Steven Heiskell Sells 13,316 Shares of Schnitzer Steel Industries, Inc. (SCHN) Stock

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) SVP Steven Heiskell sold 13,316 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $27.26, for a total transaction of $362,994.16. Following the transaction, the senior vice president now owns 65,556 shares of the company’s stock, valued at $1,787,056.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of SCHN stock opened at $27.03 on Friday. Schnitzer Steel Industries, Inc. has a 52-week low of $23.70 and a 52-week high of $38.85. The firm has a market capitalization of $745.52 million, a PE ratio of 5.76 and a beta of 1.13. 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 announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $1.11. Schnitzer Steel Industries had a net margin of 6.62% and a return on equity of 23.08%. The company had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $641.60 million. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue was up 35.6% on a year-over-year basis. As a group, equities research analysts forecast that Schnitzer Steel Industries, Inc. will post 2.54 earnings per share 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 paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, November 8th. Schnitzer Steel Industries’s dividend payout ratio is 13.91%.

Hedge funds have recently made changes to their positions in the company. Capital Fund Management S.A. acquired a new position in shares of Schnitzer Steel Industries in the 2nd quarter valued at $206,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Schnitzer Steel Industries in the 2nd quarter valued at $217,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Schnitzer Steel Industries by 124.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,755 shares of the basic materials company’s stock valued at $218,000 after buying an additional 3,740 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Schnitzer Steel Industries in the 2nd quarter valued at $234,000. Finally, Jane Street Group LLC acquired a new position in shares of Schnitzer Steel Industries in the 1st quarter valued at $239,000. Institutional investors own 89.79% of the company’s stock.

SCHN has been the subject of several research analyst reports. Morgan Stanley cut shares of Schnitzer Steel Industries from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $38.00 to $26.00 in a research note on Wednesday, August 15th. Zacks Investment Research cut shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. BidaskClub cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. ValuEngine cut shares of Schnitzer Steel Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Finally, Macquarie set a $29.00 target price on shares of Schnitzer Steel Industries and gave the company a “hold” rating in a research note on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.50.

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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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