Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) SVP Jeffery Dyck sold 8,327 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $30.05, for a total transaction of $250,226.35. Following the transaction, the senior vice president now owns 49,184 shares in the company, valued at $1,477,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $494.00 million for the quarter, compared to analysts’ expectations of $495.73 million. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The business’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be paid a $0.1875 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.75 annualized dividend and a dividend yield of 2.51%. Schnitzer Steel Industries’s dividend payout ratio is currently 47.17%.

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Several analysts have recently commented on SCHN shares. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, July 21st. BidaskClub lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Macquarie started coverage on shares of Schnitzer Steel Industries in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price target on the stock. ValuEngine lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Finally, KeyCorp reiterated a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Schnitzer Steel Industries presently has a consensus rating of “Hold” and an average target price of $29.33.

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in shares of Schnitzer Steel Industries by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,261 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 942 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Schnitzer Steel Industries by 5.9% in the 2nd quarter. D.A. Davidson & CO. now owns 17,588 shares of the basic materials company’s stock worth $443,000 after purchasing an additional 987 shares during the last quarter. American International Group Inc. grew its stake 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 worth $332,000 after purchasing an additional 1,061 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Schnitzer Steel Industries by 3.9% in the 2nd quarter. Alliancebernstein L.P. now owns 29,130 shares of the basic materials company’s stock worth $734,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Schnitzer Steel Industries by 11.2% in the 2nd quarter. Voya Investment Management LLC now owns 14,205 shares of the basic materials company’s stock worth $358,000 after purchasing an additional 1,435 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.

About Schnitzer Steel Industries

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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