Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other analysts also recently issued research reports about the stock. TheStreet upgraded shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, July 21st.

Shares of Schnitzer Steel Industries (NASDAQ:SCHN) traded up 3.01% on Wednesday, hitting $25.65. 100,478 shares of the company traded hands. The company has a market capitalization of $707.94 million, a PE ratio of 16.68 and a beta of 1.33. The stock’s 50-day moving average price is $25.45 and its 200-day moving average price is $22.14. Schnitzer Steel Industries has a 12 month low of $17.30 and a 12 month high of $30.60.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Monday, June 26th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. Schnitzer Steel Industries had a net margin of 2.68% and a return on equity of 8.34%. The business had revenue of $477 million during the quarter. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s quarterly revenue was up 35.5% on a year-over-year basis. On average, equities analysts predict that Schnitzer Steel Industries will post $1.44 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its position in shares of Schnitzer Steel Industries by 10.6% in the first quarter. Teachers Advisors LLC now owns 477,498 shares of the basic materials company’s stock worth $9,860,000 after buying an additional 45,664 shares during the last quarter. Guggenheim Capital LLC purchased a new position in shares of Schnitzer Steel Industries during the fourth quarter worth approximately $369,000. KBC Group NV increased its position in shares of Schnitzer Steel Industries by 149.8% in the first quarter. KBC Group NV now owns 92,322 shares of the basic materials company’s stock worth $1,906,000 after buying an additional 55,358 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Schnitzer Steel Industries during the first quarter worth approximately $1,553,000. Finally, American Century Companies Inc. increased its position in shares of Schnitzer Steel Industries by 3.5% in the first quarter. American Century Companies Inc. now owns 154,143 shares of the basic materials company’s stock worth $3,183,000 after buying an additional 5,175 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.

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