Bailard Inc. bought a new position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 49,700 shares of the basic materials company’s stock, valued at approximately $1,665,000. Bailard Inc. owned about 0.18% of Schnitzer Steel Industries at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of SCHN. Hillcrest Asset Management LLC bought a new stake in Schnitzer Steel Industries during the 3rd quarter worth approximately $5,651,000. Telemark Asset Management LLC bought a new stake in Schnitzer Steel Industries during the 3rd quarter worth approximately $5,630,000. Mackenzie Financial Corp bought a new stake in Schnitzer Steel Industries during the 3rd quarter worth approximately $4,304,000. Peregrine Asset Advisers Inc. bought a new stake in Schnitzer Steel Industries during the 4th quarter worth approximately $3,894,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Schnitzer Steel Industries during the 3rd quarter worth approximately $3,130,000. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) opened at $34.85 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.31 and a quick ratio of 1.04. Schnitzer Steel Industries, Inc. has a 12 month low of $17.50 and a 12 month high of $38.85. The company has a market cap of $958.91, a price-to-earnings ratio of 16.10 and a beta of 1.40.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Tuesday, January 9th. The basic materials company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The company had revenue of $483.00 million for the quarter, compared to analyst estimates of $502.02 million. During the same period in the prior year, the firm posted ($0.05) EPS. The company’s quarterly revenue was up 44.6% on a year-over-year basis. sell-side analysts anticipate that Schnitzer Steel Industries, Inc. will post 2.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, February 9th. Schnitzer Steel Industries’s dividend payout ratio is currently 32.89%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, October 20th. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub raised shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Morgan Stanley upped their price objective on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $31.33.
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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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