Mark Sheptoff Financial Planning LLC increased its stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,464 shares of the basic materials company’s stock after buying an additional 1,508 shares during the period. Mark Sheptoff Financial Planning LLC owned approximately 0.06% of Schnitzer Steel Industries worth $390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCHN. Strs Ohio raised its position in shares of Schnitzer Steel Industries by 21.6% in the first quarter. Strs Ohio now owns 34,300 shares of the basic materials company’s stock valued at $708,000 after buying an additional 6,100 shares during the period. Wells Fargo & Company MN raised its position in shares of Schnitzer Steel Industries by 20.7% in the first quarter. Wells Fargo & Company MN now owns 116,674 shares of the basic materials company’s stock valued at $2,410,000 after buying an additional 20,025 shares during the period. Adams Diversified Equity Fund Inc. raised its position in shares of Schnitzer Steel Industries by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 40,600 shares of the basic materials company’s stock valued at $838,000 after buying an additional 1,100 shares during the period. Bowling Portfolio Management LLC bought a new position in shares of Schnitzer Steel Industries during the first quarter valued at approximately $549,000. Finally, American Century Companies Inc. raised 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 valued at $3,183,000 after buying an additional 5,175 shares during the period. Institutional investors and hedge funds own 82.37% of the company’s stock.

Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) traded down 0.64% on Thursday, reaching $27.30. 63,537 shares of the company’s stock traded hands. The stock has a 50-day moving average of $25.66 and a 200 day moving average of $22.28. Schnitzer Steel Industries, Inc. has a 12-month low of $17.30 and a 12-month high of $30.60. The firm has a market cap of $753.48 million, a P/E ratio of 17.75 and a beta of 1.33.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data 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. The business had revenue of $477 million during the quarter. Schnitzer Steel Industries had a return on equity of 8.34% and a net margin of 2.68%. The business’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. On average, equities research analysts expect that Schnitzer Steel Industries, Inc. will post $1.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Thursday, August 3rd. Schnitzer Steel Industries’s payout ratio is presently 49.02%.

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Several research analysts have commented on SCHN shares. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a report on Tuesday, May 9th. TheStreet upgraded shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a report on Friday, June 30th. Finally, BidaskClub lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th.

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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Institutional Ownership by Quarter for Schnitzer Steel Industries (NASDAQ:SCHN)

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