Schnitzer Steel Industries Inc. (NASDAQ:SCHN) – Equities researchers at DA Davidson upped their FY2016 earnings per share estimates for shares of Schnitzer Steel Industries in a research note issued on Tuesday. DA Davidson analyst B. Thielman now expects that the brokerage will earn $0.68 per share for the year, up from their prior forecast of $0.35. DA Davidson has a “Hold” rating on the stock. DA Davidson also issued estimates for Schnitzer Steel Industries’ Q4 2016 earnings at $0.60 EPS.

Separately, Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 2nd.

Schnitzer Steel Industries (NASDAQ:SCHN) opened at 21.19 on Thursday. Schnitzer Steel Industries has a 12 month low of $11.70 and a 12 month high of $21.59. The firm’s 50-day moving average is $19.26 and its 200-day moving average is $18.46. The firm’s market cap is $577.64 million.

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Schnitzer Steel Industries by 1.1% in the first quarter. Geode Capital Management LLC now owns 177,487 shares of the company’s stock valued at $3,272,000 after buying an additional 1,876 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Schnitzer Steel Industries during the second quarter worth about $2,293,000. Acrospire Investment Management LLC raised its position in shares of Schnitzer Steel Industries by 1,054.7% in the second quarter. Acrospire Investment Management LLC now owns 10,508 shares of the company’s stock worth $185,000 after buying an additional 9,598 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Schnitzer Steel Industries by 25.3% in the first quarter. Renaissance Technologies LLC now owns 1,076,696 shares of the company’s stock worth $19,854,000 after buying an additional 217,696 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its position in shares of Schnitzer Steel Industries by 96.1% in the first quarter. Kennedy Capital Management Inc. now owns 388,379 shares of the company’s stock worth $7,162,000 after buying an additional 190,280 shares in the last quarter. Institutional investors and hedge funds own 92.43% of the company’s stock.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc (SSI) is a recycler of ferrous and nonferrous scrap metal. The Company is recycler of used and salvaged vehicles and a manufacturer of finished steel products. The Company operates in three business segments: the Metals Recycling Business (MRB), the Auto Parts Business (APB) and the Steel Manufacturing Business (SMB).

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