Schnitzer Steel Industries, Inc. Announces Quarterly Dividend of $0.19 (NASDAQ:SCHN)
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) announced a quarterly dividend on Wednesday, November 6th, RTT News reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.1875 per share by the basic materials company on Friday, November 29th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, November 15th.
Shares of SCHN opened at $21.13 on Thursday. Schnitzer Steel Industries has a 52 week low of $18.68 and a 52 week high of $28.90. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $577.03 million, a price-to-earnings ratio of 10.35 and a beta of 1.46. The stock’s 50-day moving average price is $20.87 and its 200-day moving average price is $23.11.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Schnitzer Steel Industries had a return on equity of 8.64% and a net margin of 2.64%. The firm had revenue of $547.80 million for the quarter, compared to the consensus estimate of $548.24 million. During the same quarter in the prior year, the business earned $2.06 earnings per share. The company’s revenue was down 18.2% compared to the same quarter last year. As a group, equities analysts anticipate that Schnitzer Steel Industries will post 1.11 EPS for the current fiscal year.
In related news, CFO Richard Peach sold 24,090 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $21.86, for a total value of $526,607.40. Following the completion of the transaction, the chief financial officer now owns 184,077 shares of the company’s stock, valued at approximately $4,023,923.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Peter B. Saba sold 9,333 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $22.14, for a total value of $206,632.62. Following the transaction, the senior vice president now directly owns 58,305 shares of the company’s stock, valued at approximately $1,290,872.70. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.
Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates through two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.
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