Schnitzer Steel Industries, Inc. (SCHN) Receives Average Recommendation of “Buy” from Brokerages
Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have been assigned a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $31.33.
SCHN has been the topic of a number of research reports. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a report on Tuesday, January 2nd. Finally, BidaskClub raised shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd.
Schnitzer Steel Industries (NASDAQ SCHN) traded up $0.30 during trading on Friday, hitting $34.50. 210,291 shares of the company’s stock traded hands, compared to its average volume of 241,102. Schnitzer Steel Industries has a 1 year low of $17.50 and a 1 year high of $38.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 2.31. The company has a market cap of $938.50, a PE ratio of 15.13 and a beta of 1.34.
The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were issued a $0.1875 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.17%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 32.89%.
Several large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Schnitzer Steel Industries by 37.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 31,724 shares of the basic materials company’s stock worth $1,063,000 after purchasing an additional 8,695 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of Schnitzer Steel Industries in the 4th quarter worth approximately $453,000. Millennium Management LLC raised its holdings in shares of Schnitzer Steel Industries by 706.8% in the 4th quarter. Millennium Management LLC now owns 685,889 shares of the basic materials company’s stock worth $22,977,000 after purchasing an additional 600,873 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Schnitzer Steel Industries by 96.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,481 shares during the period. Finally, Teachers Advisors LLC raised its holdings in shares of Schnitzer Steel Industries by 7.8% in the 4th quarter. Teachers Advisors LLC now owns 649,774 shares of the basic materials company’s stock worth $21,767,000 after purchasing an additional 47,263 shares during the period. 88.35% of the stock is currently owned by institutional investors.
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About Schnitzer Steel Industries
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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