Schnitzer Steel Industries, Inc. (SCHN) Receives Consensus Recommendation of “Hold” from Analysts

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $27.50.

Several analysts have recently issued reports on the company. Zacks Investment Research upgraded 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 downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. KeyCorp reiterated a “hold” rating on shares of Schnitzer Steel Industries in a research note on Wednesday, October 11th. ValuEngine raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Finally, Macquarie initiated coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They set a “neutral” rating and a $26.00 price objective for the company.

Schnitzer Steel Industries (NASDAQ SCHN) traded down $0.60 on Friday, hitting $28.60. The stock had a trading volume of 236,322 shares, compared to its average volume of 420,400. The company has a market cap of $772.62, a P/E ratio of 18.66 and a beta of 1.37. Schnitzer Steel Industries has a 52 week low of $17.50 and a 52 week high of $31.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 1.92.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $494.00 million during the quarter, compared to the consensus estimate of $495.73 million. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The firm’s revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. research analysts predict that Schnitzer Steel Industries will post 2.12 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were given a dividend of $0.1875 per share. The ex-dividend date was Friday, November 10th. This represents a $0.75 annualized dividend and a dividend yield of 2.62%. Schnitzer Steel Industries’s dividend payout ratio is presently 47.17%.

In related news, VP Stefano R. Gaggini sold 1,074 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $28.97, for a total transaction of $31,113.78. Following the completion of the transaction, the vice president now owns 16,480 shares of the company’s stock, valued at approximately $477,425.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peter B. Saba sold 2,393 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.52, for a total value of $63,462.36. Following the transaction, the senior vice president now directly owns 30,911 shares of the company’s stock, valued at approximately $819,759.72. The disclosure for this sale can be found here. Insiders have sold a total of 22,770 shares of company stock valued at $654,919 in the last three months. 3.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SCHN. Wells Fargo & Company MN lifted its position in shares of Schnitzer Steel Industries by 395.2% during the 2nd quarter. Wells Fargo & Company MN now owns 577,820 shares of the basic materials company’s stock worth $14,561,000 after purchasing an additional 461,146 shares during the last quarter. Koch Industries Inc. acquired a new position in Schnitzer Steel Industries in the 2nd quarter valued at approximately $367,000. Rutabaga Capital Management LLC MA raised its holdings in Schnitzer Steel Industries by 69.4% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 891,536 shares of the basic materials company’s stock valued at $22,467,000 after acquiring an additional 365,259 shares in the last quarter. Hillcrest Asset Management LLC acquired a new position in Schnitzer Steel Industries in the 3rd quarter valued at approximately $5,651,000. Finally, Telemark Asset Management LLC acquired a new position in Schnitzer Steel Industries in the 3rd quarter valued at approximately $5,630,000. 86.86% of the stock is owned by institutional investors and hedge funds.

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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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