KBC Group NV lowered its position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 3.3% during the second quarter, HoldingsChannel.com reports. The firm owned 59,321 shares of the basic materials company’s stock after selling 2,007 shares during the period. KBC Group NV’s holdings in Schnitzer Steel Industries were worth $1,999,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SCHN. SG Americas Securities LLC acquired a new position in shares of Schnitzer Steel Industries during the 1st quarter valued at $113,000. PNC Financial Services Group Inc. lifted its position in shares of Schnitzer Steel Industries by 134.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,784 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 2,747 shares during the period. Sei Investments Co. lifted its position in shares of Schnitzer Steel Industries by 120.4% during the 1st quarter. Sei Investments Co. now owns 6,481 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 3,540 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Schnitzer Steel Industries during the 2nd quarter valued at $217,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Schnitzer Steel Industries by 124.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,755 shares of the basic materials company’s stock valued at $218,000 after acquiring an additional 3,740 shares during the period. Institutional investors own 89.40% of the company’s stock.

A number of research firms recently issued reports on SCHN. Zacks Investment Research downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Saturday. BidaskClub downgraded shares of Schnitzer Steel Industries from a “sell” rating to a “strong sell” rating in a research report on Friday. ValuEngine downgraded shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, Morgan Stanley boosted their target price on shares of Schnitzer Steel Industries from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, July 6th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.75.

Schnitzer Steel Industries stock opened at $25.50 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.12 and a current ratio of 2.20. Schnitzer Steel Industries, Inc. has a 12-month low of $25.00 and a 12-month high of $38.85. The firm has a market cap of $801.73 million, a P/E ratio of 16.67 and a beta of 1.37.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its earnings results on Tuesday, June 26th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.08. Schnitzer Steel Industries had a net margin of 5.25% and a return on equity of 17.21%. The company had revenue of $652.00 million for the quarter, compared to the consensus estimate of $651.09 million. During the same quarter in the previous year, the company earned $0.56 EPS. Schnitzer Steel Industries’s quarterly revenue was up 36.7% compared to the same quarter last year. equities research analysts expect that Schnitzer Steel Industries, Inc. will post 3.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 27th. Shareholders of record on Monday, August 13th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, August 10th. This represents a $0.75 dividend on an annualized basis and a yield of 2.94%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 49.02%.

In other Schnitzer Steel Industries news, Director John D. Carter sold 13,676 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $37.02, for a total transaction of $506,285.52. Following the completion of the sale, the director now owns 62,454 shares in the company, valued at approximately $2,312,047.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% 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. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers 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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Institutional Ownership by Quarter for Schnitzer Steel Industries (NASDAQ:SCHN)

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