Schnitzer Steel Industries, Inc. (SCHN) Holdings Lifted by Stifel Financial Corp

Stifel Financial Corp grew its position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 380,500 shares of the basic materials company’s stock after purchasing an additional 24,700 shares during the period. Stifel Financial Corp owned approximately 1.41% of Schnitzer Steel Industries worth $10,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. grew its position in Schnitzer Steel Industries by 325.7% in the 3rd quarter. Sei Investments Co. now owns 6,220 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 4,759 shares during the last quarter. Commonwealth Equity Services Inc bought a new position in Schnitzer Steel Industries in the 3rd quarter worth about $204,000. Tiedemann Wealth Management LLC bought a new position in Schnitzer Steel Industries in the 3rd quarter worth about $223,000. BlueCrest Capital Management Ltd bought a new position in Schnitzer Steel Industries in the 2nd quarter worth about $228,000. Finally, Menta Capital LLC bought a new position in Schnitzer Steel Industries in the 2nd quarter worth about $247,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.

In related news, SVP Peter B. Saba sold 2,393 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $26.52, for a total transaction of $63,462.36. Following the completion of the sale, the senior vice president now directly owns 30,911 shares of the company’s stock, valued at $819,759.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Steven Heiskell sold 2,976 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $28.05, for a total transaction of $83,476.80. Following the sale, the senior vice president now directly owns 50,501 shares of the company’s stock, valued at $1,416,553.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,770 shares of company stock valued at $654,919. Company insiders own 3.80% of the company’s stock.

Several research analysts have commented on SCHN shares. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research report on Wednesday, August 16th. BidaskClub cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Macquarie started coverage on shares of Schnitzer Steel Industries in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 target price for the company. ValuEngine cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Finally, KeyCorp reiterated a “hold” rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.33.

Schnitzer Steel Industries, Inc. (SCHN) opened at $29.35 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.92 and a debt-to-equity ratio of 0.27. The stock has a market cap of $798.33, a P/E ratio of 19.28 and a beta of 1.36. Schnitzer Steel Industries, Inc. has a 1-year low of $17.50 and a 1-year high of $31.35.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.56%. The ex-dividend date was Friday, November 10th. Schnitzer Steel Industries’s dividend payout ratio is presently 47.17%.

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Schnitzer Steel Industries 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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