Schnitzer Steel Industries, Inc. (SCHN) Position Cut by Lesa Sroufe & Co
Lesa Sroufe & Co cut its stake in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 116,138 shares of the basic materials company’s stock after selling 886 shares during the period. Schnitzer Steel Industries comprises 2.7% of Lesa Sroufe & Co’s investment portfolio, making the stock its 22nd largest position. Lesa Sroufe & Co’s holdings in Schnitzer Steel Industries were worth $2,927,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC bought a new stake in Schnitzer Steel Industries during the second quarter worth $246,000. Trellus Management Company LLC bought a new stake in Schnitzer Steel Industries during the first quarter worth $207,000. Wedbush Securities Inc. increased its stake in Schnitzer Steel Industries by 11.2% in the first quarter. Wedbush Securities Inc. now owns 11,890 shares of the basic materials company’s stock worth $246,000 after buying an additional 1,200 shares during the last quarter. Guggenheim Capital LLC bought a new stake in Schnitzer Steel Industries during the fourth quarter worth $369,000. Finally, Affinity Investment Advisors LLC bought a new stake in Schnitzer Steel Industries during the first quarter worth $308,000. 84.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Schnitzer Steel Industries, Inc. (NASDAQ SCHN) opened at 24.90 on Wednesday. Schnitzer Steel Industries, Inc. has a 52-week low of $17.30 and a 52-week high of $30.60. The company’s 50-day moving average is $25.45 and its 200 day moving average is $22.14. The firm has a market capitalization of $687.24 million, a P/E ratio of 16.19 and a beta of 1.33.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings results on Monday, June 26th. The basic materials company reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. Schnitzer Steel Industries had a net margin of 2.68% and a return on equity of 8.34%. The business had revenue of $477 million for the quarter. During the same quarter in the previous year, the business earned $0.46 earnings per share. The firm’s revenue was up 35.5% on a year-over-year basis. Analysts expect that Schnitzer Steel Industries, Inc. will post $1.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Thursday, August 3rd. Schnitzer Steel Industries’s payout ratio is currently 49.02%.
A number of equities research analysts have recently weighed in on SCHN shares. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, May 9th. TheStreet upgraded shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research note on Friday, June 30th.
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.
Want to see what other hedge funds are holding SCHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schnitzer Steel Industries, Inc. (NASDAQ:SCHN).
Receive News & Ratings for Schnitzer Steel Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.