Schnitzer Steel Industries (NASDAQ:SCHN) released its quarterly earnings results on Tuesday. The basic materials company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02, Bloomberg Earnings reports. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The firm had revenue of $483.00 million during the quarter, compared to analyst estimates of $502.02 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year.

Shares of Schnitzer Steel Industries (SCHN) traded up $2.20 during trading hours on Tuesday, hitting $37.65. The company had a trading volume of 927,500 shares, compared to its average volume of 454,820. The company has a market cap of $982.04, a P/E ratio of 23.83 and a beta of 1.36. The company has a current ratio of 1.92, a quick ratio of 0.97 and a debt-to-equity ratio of 0.27. Schnitzer Steel Industries has a 52 week low of $17.50 and a 52 week high of $38.15.

Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. ValuEngine downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub upgraded Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Morgan Stanley boosted their price objective on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Finally, KeyCorp reiterated a “hold” rating on shares of Schnitzer Steel Industries in a research note on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. Schnitzer Steel Industries presently has a consensus rating of “Buy” and an average target price of $31.33.

In other Schnitzer Steel Industries news, SVP Steven Heiskell sold 2,976 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $28.05, for a total value of $83,476.80. Following the completion of the transaction, the senior vice president now directly owns 50,501 shares in the company, valued at approximately $1,416,553.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Peach sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $28.33, for a total value of $226,640.00. Following the completion of the transaction, the chief financial officer now owns 119,283 shares of the company’s stock, valued at $3,379,287.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,770 shares of company stock valued at $654,919. 3.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in Schnitzer Steel Industries by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,261 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 942 shares during the period. D.A. Davidson & CO. boosted its stake in Schnitzer Steel Industries by 5.9% in the 2nd quarter. D.A. Davidson & CO. now owns 17,588 shares of the basic materials company’s stock worth $443,000 after purchasing an additional 987 shares during the period. Alliancebernstein L.P. boosted its stake in Schnitzer Steel Industries by 3.9% in the 2nd quarter. Alliancebernstein L.P. now owns 29,130 shares of the basic materials company’s stock worth $734,000 after purchasing an additional 1,100 shares during the period. Voya Investment Management LLC boosted its stake in Schnitzer Steel Industries by 11.2% in the 2nd quarter. Voya Investment Management LLC now owns 14,205 shares of the basic materials company’s stock worth $358,000 after purchasing an additional 1,435 shares during the period. Finally, American Century Companies Inc. boosted its stake in Schnitzer Steel Industries by 1.1% in the 2nd quarter. American Century Companies Inc. now owns 155,826 shares of the basic materials company’s stock worth $3,927,000 after purchasing an additional 1,683 shares during the period. Institutional investors and hedge funds own 86.84% of the company’s stock.

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Schnitzer Steel Industries Company 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.

Earnings History for Schnitzer Steel Industries (NASDAQ:SCHN)

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