Schnitzer Steel Industries, Inc. (SCHN) Position Lessened by James Investment Research Inc.

James Investment Research Inc. reduced its position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 32.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,780 shares of the basic materials company’s stock after selling 20,625 shares during the period. James Investment Research Inc.’s holdings in Schnitzer Steel Industries were worth $1,157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in Schnitzer Steel Industries by 8.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 18,701 shares of the basic materials company’s stock valued at $630,000 after purchasing an additional 1,528 shares during the period. D.A. Davidson & CO. boosted its holdings in Schnitzer Steel Industries by 17.5% in the 2nd quarter. D.A. Davidson & CO. now owns 13,366 shares of the basic materials company’s stock valued at $450,000 after purchasing an additional 1,992 shares during the period. Alpha Windward LLC boosted its holdings in Schnitzer Steel Industries by 14.6% in the 2nd quarter. Alpha Windward LLC now owns 16,020 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 2,040 shares during the period. Globeflex Capital L P boosted its holdings in Schnitzer Steel Industries by 13.9% in the 2nd quarter. Globeflex Capital L P now owns 18,000 shares of the basic materials company’s stock valued at $607,000 after purchasing an additional 2,200 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Schnitzer Steel Industries by 44.3% in the 1st quarter. Legal & General Group Plc now owns 8,980 shares of the basic materials company’s stock valued at $291,000 after purchasing an additional 2,755 shares during the period. 90.37% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on SCHN shares. BidaskClub downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Macquarie set a $29.00 price target on shares of Schnitzer Steel Industries and gave the company a “hold” rating in a report on Thursday, October 25th. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Finally, ValuEngine downgraded shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $33.50.

In other news, SVP Peter B. Saba sold 7,356 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $26.64, for a total transaction of $195,963.84. Following the completion of the transaction, the senior vice president now directly owns 44,198 shares of the company’s stock, valued at approximately $1,177,434.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stefano R. Gaggini sold 4,401 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $26.75, for a total transaction of $117,726.75. Following the transaction, the chief financial officer now directly owns 30,467 shares of the company’s stock, valued at $814,992.25. The disclosure for this sale can be found here. Insiders have sold a total of 17,787 shares of company stock valued at $479,877 over the last ninety days. 3.80% of the stock is owned by insiders.

NASDAQ:SCHN opened at $27.01 on Friday. The stock has a market cap of $727.89 million, a PE ratio of 5.01 and a beta of 1.13. Schnitzer Steel Industries, Inc. has a 52 week low of $23.70 and a 52 week high of $38.85. The company has a quick ratio of 0.95, a current ratio of 1.76 and a debt-to-equity ratio of 0.16.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $1.11. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $641.60 million. Schnitzer Steel Industries had a net margin of 6.62% and a return on equity of 23.08%. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. On average, equities research analysts expect that Schnitzer Steel Industries, Inc. will post 2.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 12th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, November 8th. Schnitzer Steel Industries’s payout ratio is 13.91%.

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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Institutional Ownership by Quarter for Schnitzer Steel Industries (NASDAQ:SCHN)

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