Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have earned an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $26.00.

A number of analysts have recently commented on the company. KeyCorp reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a research note on Wednesday. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research note on Wednesday, August 16th. BidaskClub cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. ValuEngine raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 5th. Finally, Macquarie assumed coverage on Schnitzer Steel Industries in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price target for the company.

Several institutional investors and hedge funds have recently modified their holdings of SCHN. Wells Fargo & Company MN grew its position in shares of Schnitzer Steel Industries by 20.7% in the 1st quarter. Wells Fargo & Company MN now owns 116,674 shares of the basic materials company’s stock valued at $2,410,000 after purchasing an additional 20,025 shares during the period. Bank of New York Mellon Corp grew its position in shares of Schnitzer Steel Industries by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 250,220 shares of the basic materials company’s stock valued at $5,167,000 after purchasing an additional 11,684 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Schnitzer Steel Industries by 41.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 135,362 shares of the basic materials company’s stock valued at $2,795,000 after purchasing an additional 39,704 shares during the period. Victory Capital Management Inc. grew its position in shares of Schnitzer Steel Industries by 3.7% in the 1st quarter. Victory Capital Management Inc. now owns 61,568 shares of the basic materials company’s stock valued at $1,271,000 after purchasing an additional 2,173 shares during the period. Finally, American International Group Inc. grew its position in shares of Schnitzer Steel Industries by 7.1% in the 1st quarter. American International Group Inc. now owns 16,073 shares of the basic materials company’s stock valued at $332,000 after purchasing an additional 1,061 shares during the period. Institutional investors and hedge funds own 82.37% of the company’s stock.

Schnitzer Steel Industries (NASDAQ:SCHN) traded up 1.22% during mid-day trading on Thursday, hitting $29.00. 639,326 shares of the company traded hands. Schnitzer Steel Industries has a one year low of $17.50 and a one year high of $30.60. The company has a market capitalization of $800.40 million, a price-to-earnings ratio of 18.86 and a beta of 1.34. The company’s 50-day moving average price is $27.10 and its 200 day moving average price is $23.16.

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Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.

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