Royce & Associates LP grew its stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 42.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,253 shares of the basic materials company’s stock after acquiring an additional 100,300 shares during the quarter. Royce & Associates LP owned about 1.23% of Schnitzer Steel Industries worth $8,549,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wedbush Securities Inc. lifted its position in shares of Schnitzer Steel Industries by 11.2% in the first quarter. Wedbush Securities Inc. now owns 11,890 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 1,200 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in shares of Schnitzer Steel Industries in the second quarter valued at $246,000. Affinity Investment Advisors LLC purchased a new stake in shares of Schnitzer Steel Industries in the first quarter valued at $308,000. American International Group Inc. lifted its position in shares of Schnitzer Steel Industries by 7.1% in the first quarter. American International Group Inc. now owns 16,073 shares of the basic materials company’s stock valued at $332,000 after acquiring an additional 1,061 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Schnitzer Steel Industries in the second quarter valued at $383,000. Institutional investors and hedge funds own 82.37% of the company’s stock.

Shares of Schnitzer Steel Industries, Inc. (SCHN) opened at 27.15 on Monday. The stock has a 50 day moving average price of $25.87 and a 200 day moving average price of $22.36. Schnitzer Steel Industries, Inc. has a 12 month low of $17.30 and a 12 month high of $30.60. The stock has a market capitalization of $749.34 million, a P/E ratio of 17.65 and a beta of 1.33.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Thursday, August 3rd. Schnitzer Steel Industries’s payout ratio is presently 49.02%.

TRADEMARK VIOLATION NOTICE: “Royce & Associates LP Buys 100,300 Shares of Schnitzer Steel Industries, Inc. (SCHN)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/09/04/royce-associates-lp-buys-100300-shares-of-schnitzer-steel-industries-inc-schn.html.

Several brokerages have recently issued reports on SCHN. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Friday, July 21st. TheStreet upgraded Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Friday, June 30th. Finally, BidaskClub downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.

Schnitzer Steel Industries Company Profile

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.

Want to see what other hedge funds are holding SCHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schnitzer Steel Industries, Inc. (NASDAQ:SCHN).

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

Receive News & Stock Ratings for Schnitzer Steel Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries Inc. and related stocks with our FREE daily email newsletter.