Ameriprise Financial Inc. lowered its position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 299,114 shares of the basic materials company’s stock after selling 13,083 shares during the period. Ameriprise Financial Inc. owned about 1.08% of Schnitzer Steel Industries worth $7,537,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GW&K Investment Management LLC purchased a new position in shares of Schnitzer Steel Industries during the second quarter worth about $246,000. American International Group Inc. grew its holdings in shares of Schnitzer Steel Industries by 7.1% during the first quarter. American International Group Inc. now owns 16,073 shares of the basic materials company’s stock worth $332,000 after buying an additional 1,061 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Schnitzer Steel Industries in the 2nd quarter valued at approximately $383,000. Mark Sheptoff Financial Planning LLC boosted its holdings in Schnitzer Steel Industries by 10.8% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 15,464 shares of the basic materials company’s stock valued at $390,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in Schnitzer Steel Industries by 37.4% in the 2nd quarter. Wedbush Securities Inc. now owns 16,340 shares of the basic materials company’s stock valued at $412,000 after purchasing an additional 4,450 shares in the last quarter. 83.76% of the stock is currently owned by hedge funds and other institutional investors.
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A number of equities research analysts have weighed in on SCHN shares. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Saturday, October 21st. BidaskClub lowered Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. KeyCorp reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. Finally, ValuEngine lowered Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Schnitzer Steel Industries has a consensus rating of “Hold” and a consensus target price of $29.50.
Schnitzer Steel Industries, Inc. (SCHN) opened at 30.00 on Friday. The company’s 50 day moving average price is $27.91 and its 200 day moving average price is $23.81. Schnitzer Steel Industries, Inc. has a 12 month low of $17.50 and a 12 month high of $31.35. The firm has a market capitalization of $828.00 million, a P/E ratio of 19.51 and a beta of 1.34.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The firm had revenue of $494.00 million during 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 firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Analysts anticipate that Schnitzer Steel Industries, Inc. will post $1.62 EPS for the current year.
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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