Geode Capital Management LLC reduced its position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 328,633 shares of the basic materials company’s stock after selling 26,041 shares during the period. Geode Capital Management LLC owned approximately 1.21% of Schnitzer Steel Industries worth $11,009,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in Schnitzer Steel Industries by 325.7% during the 3rd quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 4,759 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in Schnitzer Steel Industries during the 4th quarter worth approximately $247,000. UBS Asset Management Americas Inc. acquired a new stake in Schnitzer Steel Industries during the 4th quarter worth approximately $258,000. Teacher Retirement System of Texas acquired a new stake in Schnitzer Steel Industries during the 4th quarter worth approximately $307,000. Finally, Investors Research Corp acquired a new stake in Schnitzer Steel Industries during the 4th quarter worth approximately $446,000. 91.01% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on SCHN. ValuEngine cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Thursday. Goldman Sachs began coverage on Schnitzer Steel Industries in a report on Tuesday, March 20th. They set a “buy” rating and a $42.00 price target for the company. Finally, BidaskClub cut Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, March 16th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.25.
Shares of NASDAQ SCHN opened at $31.60 on Friday. The firm has a market capitalization of $911.98, a price-to-earnings ratio of 20.65 and a beta of 1.41. The company has a quick ratio of 1.04, a current ratio of 2.31 and a debt-to-equity ratio of 0.33. Schnitzer Steel Industries, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $38.85.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Thursday, April 5th. The basic materials company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.51. The firm had revenue of $559.00 million during the quarter, compared to analysts’ expectations of $507.82 million. Schnitzer Steel Industries had a return on equity of 14.63% and a net margin of 4.68%. The company’s quarterly revenue was up 46.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS. equities research analysts forecast that Schnitzer Steel Industries, Inc. will post 3.37 EPS for the current fiscal year.
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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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