Schnitzer Steel Industries (NASDAQ:SCHN) Director John D. Carter sold 13,676 shares of the business’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $37.02, for a total transaction of $506,285.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Schnitzer Steel Industries traded down $0.90, reaching $36.30, on Wednesday, MarketBeat Ratings reports. 223,096 shares of the company were exchanged, compared to its average volume of 327,323. Schnitzer Steel Industries has a 12 month low of $24.30 and a 12 month high of $38.85. The firm has a market capitalization of $1.01 billion, a P/E ratio of 23.73 and a beta of 1.44. The company has a current ratio of 2.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.28.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its earnings results on Tuesday, June 26th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.08. The business had revenue of $652.00 million for the quarter, compared to analyst estimates of $651.09 million. Schnitzer Steel Industries had a net margin of 5.25% and a return on equity of 17.21%. Schnitzer Steel Industries’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. equities research analysts anticipate that Schnitzer Steel Industries will post 3.64 EPS for the current fiscal year.
A number of equities analysts recently issued reports on SCHN shares. Goldman Sachs Group started coverage on shares of Schnitzer Steel Industries in a research report on Tuesday, March 20th. They set a “buy” rating and a $42.00 target price on the stock. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, March 21st. ValuEngine lowered shares of Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. BidaskClub lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Finally, Morgan Stanley boosted their target price on shares of Schnitzer Steel Industries from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, July 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $35.75.
Institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System increased its holdings in Schnitzer Steel Industries by 4.2% in the 4th quarter. California Public Employees Retirement System now owns 92,350 shares of the basic materials company’s stock valued at $3,094,000 after buying an additional 3,685 shares during the period. Swiss National Bank increased its holdings in Schnitzer Steel Industries by 7.3% in the 1st quarter. Swiss National Bank now owns 46,800 shares of the basic materials company’s stock valued at $1,514,000 after buying an additional 3,200 shares during the period. Teachers Advisors LLC increased its holdings in Schnitzer Steel Industries by 7.8% in the 4th quarter. Teachers Advisors LLC now owns 649,774 shares of the basic materials company’s stock valued at $21,767,000 after buying an additional 47,263 shares during the period. Koch Industries Inc. increased its holdings in Schnitzer Steel Industries by 27.3% in the 4th quarter. Koch Industries Inc. now owns 10,076 shares of the basic materials company’s stock valued at $338,000 after buying an additional 2,158 shares during the period. Finally, OppenheimerFunds Inc. bought a new stake in Schnitzer Steel Industries in the 4th quarter valued at $247,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.
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