BidaskClub upgraded shares of Schnitzer Steel Industries (NASDAQ:SCHN) from a hold rating to a buy rating in a report issued on Thursday, BidAskClub reports.

Several other research firms have also weighed in on SCHN. Cowen reiterated a market perform rating and set a $25.00 target price (up from $24.00) on shares of Schnitzer Steel Industries in a report on Tuesday, June 25th. ValuEngine lowered Schnitzer Steel Industries from a hold rating to a sell rating in a report on Saturday, August 10th. Finally, Zacks Investment Research lowered Schnitzer Steel Industries from a hold rating to a sell rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $27.00.

NASDAQ:SCHN opened at $25.45 on Thursday. The stock’s fifty day simple moving average is $23.96 and its 200-day simple moving average is $24.04. The company has a quick ratio of 1.22, a current ratio of 2.36 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $660.08 million, a P/E ratio of 4.72 and a beta of 1.50. Schnitzer Steel Industries has a 12-month low of $20.94 and a 12-month high of $28.90.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its earnings results on Wednesday, June 26th. The basic materials company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The firm had revenue of $547.00 million for the quarter, compared to analyst estimates of $542.24 million. Schnitzer Steel Industries had a return on equity of 15.72% and a net margin of 4.63%. The company’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. As a group, equities research analysts expect that Schnitzer Steel Industries will post 2.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Monday, August 12th. Schnitzer Steel Industries’s dividend payout ratio is currently 13.91%.

Large investors have recently added to or reduced their stakes in the stock. Swiss National Bank increased its position in shares of Schnitzer Steel Industries by 3.3% in the second quarter. Swiss National Bank now owns 49,900 shares of the basic materials company’s stock valued at $1,306,000 after acquiring an additional 1,600 shares during the last quarter. Bank of Montreal Can grew its holdings in Schnitzer Steel Industries by 20.2% during the first quarter. Bank of Montreal Can now owns 8,866 shares of the basic materials company’s stock worth $213,000 after purchasing an additional 1,493 shares during the period. Bessemer Group Inc. grew its holdings in Schnitzer Steel Industries by 13.5% during the second quarter. Bessemer Group Inc. now owns 60,600 shares of the basic materials company’s stock worth $1,586,000 after purchasing an additional 7,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Schnitzer Steel Industries by 1,119.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,292 shares of the basic materials company’s stock worth $374,000 after acquiring an additional 13,120 shares during the period. Finally, Martingale Asset Management L P boosted its holdings in shares of Schnitzer Steel Industries by 8.0% during the first quarter. Martingale Asset Management L P now owns 153,239 shares of the basic materials company’s stock worth $3,678,000 after acquiring an additional 11,400 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

About Schnitzer Steel Industries

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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