Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was the target of some unusual options trading activity on Thursday. Stock traders bought 1,172 call options on the stock. This is an increase of Infinity compared to the average daily volume of 0 call options.

SCHN has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Saturday, October 21st. BidaskClub downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. KeyCorp restated a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Finally, ValuEngine downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $29.33.

In related news, SVP Steven Heiskell sold 2,976 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $28.05, for a total value of $83,476.80. Following the completion of the sale, the senior vice president now owns 50,501 shares in the company, valued at approximately $1,416,553.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Peach sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $28.33, for a total transaction of $226,640.00. Following the completion of the sale, the chief financial officer now owns 119,283 shares of the company’s stock, valued at approximately $3,379,287.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,377 shares of company stock valued at $591,457. Company insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SCHN. American International Group Inc. increased its stake in shares of Schnitzer Steel Industries by 7.1% during 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. Teachers Advisors LLC increased its stake in shares of Schnitzer Steel Industries by 10.6% during the 1st quarter. Teachers Advisors LLC now owns 477,498 shares of the basic materials company’s stock worth $9,860,000 after purchasing an additional 45,664 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Schnitzer Steel Industries by 9.5% during the 1st quarter. Geode Capital Management LLC now owns 265,481 shares of the basic materials company’s stock worth $5,482,000 after purchasing an additional 23,085 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Schnitzer Steel Industries by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,270,696 shares of the basic materials company’s stock worth $46,890,000 after purchasing an additional 18,355 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Schnitzer Steel Industries by 10.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 403,519 shares of the basic materials company’s stock worth $8,333,000 after purchasing an additional 37,211 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Shares of Schnitzer Steel Industries (SCHN) opened at $26.90 on Friday. Schnitzer Steel Industries has a 12-month low of $17.50 and a 12-month high of $31.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.92 and a quick ratio of 0.97. The stock has a market cap of $746.91, a P/E ratio of 18.04 and a beta of 1.37.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The company had revenue of $494.00 million during the quarter, compared to the consensus estimate of $495.73 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue was up 26.3% compared to the same quarter last year. equities analysts expect that Schnitzer Steel Industries will post 2.02 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.75 annualized dividend and a dividend yield of 2.79%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is 47.17%.

COPYRIGHT VIOLATION WARNING: “Traders Purchase Large Volume of Schnitzer Steel Industries Call Options (SCHN)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/11/12/traders-purchase-large-volume-of-schnitzer-steel-industries-call-options-schn.html.

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.

Receive News & Ratings for Schnitzer Steel Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.