Schnitzer Steel Industries, Inc. (SCHN) VP Stefano R. Gaggini Sells 1,074 Shares
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) VP Stefano R. Gaggini sold 1,074 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $28.97, for a total transaction of $31,113.78. Following the completion of the sale, the vice president now directly owns 16,480 shares in the company, valued at $477,425.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Schnitzer Steel Industries, Inc. (SCHN) remained flat at $$28.20 during trading on Tuesday. The stock had a trading volume of 408,955 shares, compared to its average volume of 378,864. Schnitzer Steel Industries, Inc. has a 12-month low of $17.50 and a 12-month high of $31.35. The company has a market capitalization of $759.10, a price-to-earnings ratio of 18.66 and a beta of 1.37. The company has a current ratio of 1.92, a quick ratio of 0.97 and a debt-to-equity ratio of 0.27.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The company had revenue of $494.00 million for the quarter, compared to analysts’ expectations of $495.73 million. During the same period last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. sell-side analysts anticipate that Schnitzer Steel Industries, Inc. will post 2.02 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.75 annualized dividend and a dividend yield of 2.66%. Schnitzer Steel Industries’s dividend payout ratio is currently 47.47%.
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Several research firms have issued reports on SCHN. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Wednesday, August 16th. Morgan Stanley raised their price target on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 31st. BidaskClub cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. KeyCorp reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a research note on Wednesday, October 11th. Finally, ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 5th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Schnitzer Steel Industries has an average rating of “Hold” and an average target price of $29.33.
Several hedge funds have recently made changes to their positions in SCHN. Sei Investments Co. lifted its holdings in shares of Schnitzer Steel Industries by 325.7% during the 3rd quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock worth $175,000 after acquiring an additional 4,759 shares during the period. Commonwealth Equity Services Inc purchased a new position in shares of Schnitzer Steel Industries during the 3rd quarter worth about $204,000. BlueCrest Capital Management Ltd purchased a new position in shares of Schnitzer Steel Industries during the 2nd quarter worth about $228,000. GW&K Investment Management LLC purchased a new position in shares of Schnitzer Steel Industries during the 2nd quarter worth about $246,000. Finally, Menta Capital LLC purchased a new position in shares of Schnitzer Steel Industries during the 2nd quarter worth about $247,000. Institutional investors and hedge funds own 83.51% 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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