Bailard Inc. purchased a new position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 49,700 shares of the basic materials company’s stock, valued at approximately $1,665,000. Bailard Inc. owned 0.18% of Schnitzer Steel Industries at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System raised its position 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 last quarter. Teacher Retirement System of Texas acquired a new stake in Schnitzer Steel Industries in the 4th quarter valued at approximately $307,000. American Century Companies Inc. raised its position in Schnitzer Steel Industries by 19.1% in the 4th quarter. American Century Companies Inc. now owns 244,190 shares of the basic materials company’s stock valued at $8,180,000 after buying an additional 39,129 shares during the last quarter. Peregrine Asset Advisers Inc. acquired a new stake in Schnitzer Steel Industries in the 4th quarter valued at approximately $3,894,000. Finally, LSV Asset Management acquired a new stake in Schnitzer Steel Industries in the 4th quarter valued at approximately $1,614,000. 85.78% of the stock is currently owned by institutional investors.
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) remained flat at $$35.05 during mid-day trading on Friday. 199,100 shares of the company were exchanged, compared to its average volume of 382,790. The company has a quick ratio of 1.04, a current ratio of 2.31 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $953.47, a P/E ratio of 16.00 and a beta of 1.40. Schnitzer Steel Industries, Inc. has a one year low of $17.50 and a one year high of $38.85.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $483.00 million during the quarter, compared to the consensus estimate of $502.02 million. Schnitzer Steel Industries had a return on equity of 11.90% and a net margin of 3.50%. The business’s revenue was up 44.6% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. sell-side analysts predict that Schnitzer Steel Industries, Inc. will post 2.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, February 9th. This represents a $0.75 annualized dividend and a dividend yield of 2.14%. Schnitzer Steel Industries’s dividend payout ratio is currently 32.89%.
A number of equities research analysts recently issued reports on the company. ValuEngine raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. BidaskClub upgraded Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Morgan Stanley raised their price target on 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 investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target 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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