Menta Capital LLC acquired a new position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,800 shares of the basic materials company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCHN. Wells Fargo & Company MN raised its holdings in Schnitzer Steel Industries by 395.2% in the 2nd quarter. Wells Fargo & Company MN now owns 577,820 shares of the basic materials company’s stock worth $14,561,000 after purchasing an additional 461,146 shares in the last quarter. State Street Corp raised its holdings in Schnitzer Steel Industries by 17.5% in the 1st quarter. State Street Corp now owns 1,323,730 shares of the basic materials company’s stock worth $27,335,000 after purchasing an additional 197,370 shares in the last quarter. Prudential Financial Inc. raised its holdings in Schnitzer Steel Industries by 627.9% in the 2nd quarter. Prudential Financial Inc. now owns 195,417 shares of the basic materials company’s stock worth $4,924,000 after purchasing an additional 168,569 shares in the last quarter. Teachers Advisors LLC raised 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 worth $15,018,000 after purchasing an additional 118,453 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in Schnitzer Steel Industries by 42.0% in the 2nd quarter. Royce & Associates LP now owns 339,253 shares of the basic materials company’s stock worth $8,549,000 after purchasing an additional 100,300 shares in the last quarter. Institutional investors and hedge funds own 82.37% of the company’s stock.

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Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) opened at 26.90 on Thursday. Schnitzer Steel Industries, Inc. has a one year low of $17.50 and a one year high of $30.60. The company has a market capitalization of $742.44 million, a price-to-earnings ratio of 17.49 and a beta of 1.34. The firm has a 50-day moving average of $26.83 and a 200 day moving average of $22.91.

Several research analysts have commented on SCHN shares. TheStreet upgraded shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a report on Friday, June 30th. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. ValuEngine lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Macquarie started coverage on shares of Schnitzer Steel Industries in a report on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, BidaskClub lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Schnitzer Steel Industries currently has a consensus rating of “Hold” and a consensus target price of $27.50.

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

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