Shufro Rose & Co. LLC Sells 4,066 Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)

Shufro Rose & Co. LLC lessened its holdings in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,100 shares of the basic materials company’s stock after selling 4,066 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Schnitzer Steel Industries were worth $840,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SCHN. Geode Capital Management LLC boosted its holdings in shares of Schnitzer Steel Industries by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 318,447 shares of the basic materials company’s stock worth $6,862,000 after purchasing an additional 11,973 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Schnitzer Steel Industries by 69.4% in the 4th quarter. Two Sigma Advisers LP now owns 25,466 shares of the basic materials company’s stock worth $549,000 after buying an additional 10,436 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Schnitzer Steel Industries by 401.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,055 shares of the basic materials company’s stock worth $195,000 after buying an additional 7,250 shares in the last quarter. Legal & General Group Plc lifted its holdings in Schnitzer Steel Industries by 8.9% in the 4th quarter. Legal & General Group Plc now owns 10,349 shares of the basic materials company’s stock worth $223,000 after buying an additional 845 shares in the last quarter. Finally, Norges Bank acquired a new position in Schnitzer Steel Industries in the 4th quarter worth $13,016,000. 83.66% of the stock is owned by institutional investors.

A number of equities analysts have commented on the stock. Cowen reiterated a “market perform” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Schnitzer Steel Industries in a report on Tuesday, June 25th. BidaskClub lowered shares of Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. ValuEngine upgraded shares of Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $27.20.

Shares of SCHN traded down $0.43 during midday trading on Monday, hitting $25.21. The company had a trading volume of 2,579 shares, compared to its average volume of 191,674. The firm has a 50 day moving average price of $25.24. The stock has a market cap of $686.59 million, a PE ratio of 4.59 and a beta of 1.45. Schnitzer Steel Industries, Inc. has a 52 week low of $20.94 and a 52 week high of $32.50. The company has a current ratio of 2.36, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its earnings results on Wednesday, June 26th. The basic materials company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $547.00 million during the quarter, compared to the consensus estimate of $542.24 million. Schnitzer Steel Industries had a net margin of 4.63% and a return on equity of 15.72%. The company’s revenue was down 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. On average, research analysts predict that Schnitzer Steel Industries, Inc. will post 2.27 EPS for the current fiscal year.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates through two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles 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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