Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) 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 value of $117,726.75. Following the sale, the chief financial officer now owns 30,467 shares of the company’s stock, valued at $814,992.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Schnitzer Steel Industries stock opened at $27.01 on Monday. The stock has a market cap of $727.89 million, a PE ratio of 5.01 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.76 and a quick ratio of 0.95. Schnitzer Steel Industries, Inc. has a 52-week low of $23.70 and a 52-week high of $38.85.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $2.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $1.11. The business had revenue of $670.00 million during the quarter, compared to analyst estimates of $641.60 million. Schnitzer Steel Industries had a return on equity of 23.08% and a net margin of 6.62%. The firm’s revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. Equities analysts expect that Schnitzer Steel Industries, Inc. will post 2.52 earnings per share for the current fiscal year.
The company also recently declared 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. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.75 annualized dividend and a dividend yield of 2.78%. Schnitzer Steel Industries’s dividend payout ratio is 13.91%.
Several institutional investors have recently made changes to their positions in SCHN. Northpointe Capital LLC acquired a new stake in shares of Schnitzer Steel Industries during the 2nd quarter valued at about $6,633,000. BlackRock Inc. raised its stake in shares of Schnitzer Steel Industries by 6.6% in the 2nd quarter. BlackRock Inc. now owns 2,847,448 shares of the basic materials company’s stock valued at $95,958,000 after acquiring an additional 175,455 shares in the last quarter. Foundry Partners LLC bought a new position in shares of Schnitzer Steel Industries in the 3rd quarter valued at approximately $4,733,000. Systematic Financial Management LP raised its stake in shares of Schnitzer Steel Industries by 70.4% in the 2nd quarter. Systematic Financial Management LP now owns 211,071 shares of the basic materials company’s stock valued at $7,113,000 after acquiring an additional 87,211 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Schnitzer Steel Industries by 43.6% in the 2nd quarter. LSV Asset Management now owns 256,100 shares of the basic materials company’s stock valued at $8,630,000 after acquiring an additional 77,800 shares in the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.
SCHN has been the subject of a number of research reports. Morgan Stanley lowered Schnitzer Steel Industries from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $38.00 to $26.00 in a research report on Wednesday, August 15th. ValuEngine upgraded Schnitzer Steel Industries from a “strong sell” rating to a “sell” rating in a report on Friday, October 26th. Macquarie set a $29.00 price target on Schnitzer Steel Industries and gave the company a “hold” rating in a report on Thursday, October 25th. Zacks Investment Research lowered Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 18th. Finally, BidaskClub lowered Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 11th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $33.50.
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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