Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other analysts have also recently commented on SCHN. BidaskClub cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, August 16th. Macquarie assumed coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They set a “neutral” rating and a $26.00 price objective for the company. Finally, TheStreet upgraded Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Friday, June 30th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $27.50.

Shares of Schnitzer Steel Industries (NASDAQ SCHN) opened at 26.80 on Friday. The company has a 50 day moving average of $25.91 and a 200-day moving average of $22.40. Schnitzer Steel Industries has a one year low of $17.50 and a one year high of $30.60. The stock has a market cap of $739.68 million, a price-to-earnings ratio of 17.43 and a beta of 1.33.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Monday, June 26th. The basic materials company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $477.00 million during the quarter. Schnitzer Steel Industries had a return on equity of 8.34% and a net margin of 2.68%. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. On average, analysts anticipate that Schnitzer Steel Industries will post $1.47 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Schnitzer Steel Industries by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,270,696 shares of the basic materials company’s stock worth $46,890,000 after purchasing an additional 18,355 shares in the last quarter. State Street Corp grew its holdings in Schnitzer Steel Industries by 1.6% in the 2nd quarter. State Street Corp now owns 1,344,366 shares of the basic materials company’s stock valued at $33,877,000 after buying an additional 20,636 shares during the period. Rutabaga Capital Management LLC MA grew its holdings in Schnitzer Steel Industries by 69.4% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 891,536 shares of the basic materials company’s stock valued at $22,467,000 after buying an additional 365,259 shares during the period. Heartland Advisors Inc. grew its holdings in Schnitzer Steel Industries by 7.1% in the 2nd quarter. Heartland Advisors Inc. now owns 711,995 shares of the basic materials company’s stock valued at $17,942,000 after buying an additional 47,447 shares during the period. Finally, Teachers Advisors LLC grew its holdings in Schnitzer Steel Industries by 24.8% in the 2nd quarter. Teachers Advisors LLC now owns 595,951 shares of the basic materials company’s stock valued at $15,018,000 after buying an additional 118,453 shares during the period. Hedge funds and other institutional investors own 82.37% of the company’s stock.

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.

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