ValuEngine upgraded shares of Schnitzer Steel Industries (NASDAQ:SCHN) from a hold rating to a buy rating in a research report sent to investors on Saturday.

SCHN has been the topic of several other research reports. Zacks Investment Research raised Schnitzer Steel Industries from a hold rating to a buy rating and set a $33.00 price objective on the stock in a research report on Saturday, October 21st. Morgan Stanley boosted their price objective on Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an equal weight rating in a research report on Tuesday, October 31st. Macquarie assumed coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They issued a neutral rating and a $26.00 price objective on the stock. KeyCorp reissued a hold rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Finally, BidaskClub cut Schnitzer Steel Industries from a buy rating to a hold rating in a research report on Wednesday, August 16th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Schnitzer Steel Industries presently has a consensus rating of Hold and an average price target of $29.33.

Shares of Schnitzer Steel Industries (NASDAQ SCHN) traded up $0.65 during trading hours on Friday, hitting $29.50. The company had a trading volume of 160,458 shares, compared to its average volume of 205,255. The stock has a market capitalization of $798.33, a PE ratio of 19.28 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 1.92. Schnitzer Steel Industries has a one year low of $17.50 and a one year high of $31.35.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $494.00 million for the quarter, compared to analysts’ expectations of $495.73 million. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. Schnitzer Steel Industries’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. analysts anticipate that Schnitzer Steel Industries will post 2.18 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Monday, November 13th were given a $0.1875 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.75 annualized dividend and a yield of 2.54%. Schnitzer Steel Industries’s dividend payout ratio is currently 47.17%.

In other Schnitzer Steel Industries news, CFO Richard Peach sold 8,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $28.33, for a total value of $226,640.00. Following the transaction, the chief financial officer now owns 119,283 shares of the company’s stock, valued at $3,379,287.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Stefano R. Gaggini sold 1,074 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $28.97, for a total value of $31,113.78. Following the completion of the transaction, the vice president now directly owns 16,480 shares in the company, valued at approximately $477,425.60. The disclosure for this sale can be found here. In the last three months, insiders sold 22,770 shares of company stock worth $654,919. Insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in shares of Schnitzer Steel Industries by 1.6% during 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 last quarter. Rutabaga Capital Management LLC MA lifted its position in shares of Schnitzer Steel Industries by 69.4% during 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 last quarter. Heartland Advisors Inc. lifted its position in shares of Schnitzer Steel Industries by 7.1% during 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 last quarter. Teachers Advisors LLC lifted its position in shares of Schnitzer Steel Industries by 24.8% during 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 last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Schnitzer Steel Industries by 395.2% during the 2nd quarter. Wells Fargo & Company MN now owns 577,820 shares of the basic materials company’s stock valued at $14,561,000 after buying an additional 461,146 shares during the last quarter. 86.84% of the stock is currently owned by hedge funds and other institutional investors.

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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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