Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) SVP Steven Heiskell sold 2,976 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 50,501 shares in the company, valued at $1,416,553.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) traded down $0.51 during mid-day trading on Friday, hitting $26.90. The stock had a trading volume of 231,804 shares, compared to its average volume of 333,927. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 1.92. Schnitzer Steel Industries, Inc. has a 1-year low of $17.50 and a 1-year high of $31.35. The firm has a market capitalization of $746.91, a P/E ratio of 18.04 and a beta of 1.37.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its earnings results 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. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The firm had revenue of $494.00 million for the quarter, compared to the consensus estimate of $495.73 million. During the same period in the prior year, the firm earned $0.60 EPS. The firm’s revenue was up 26.3% on a year-over-year basis. sell-side analysts forecast that Schnitzer Steel Industries, Inc. will post 2.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, November 10th. Schnitzer Steel Industries’s payout ratio is 47.17%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in shares of 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 valued at $536,000 after acquiring an additional 942 shares during the period. D.A. Davidson & CO. increased its position in shares of 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 valued at $443,000 after acquiring an additional 987 shares during the period. American International Group Inc. increased its position in shares of Schnitzer Steel Industries by 7.1% in the 1st quarter. American International Group Inc. now owns 16,073 shares of the basic materials company’s stock valued at $332,000 after acquiring an additional 1,061 shares during the period. Alliancebernstein L.P. increased its position in shares of 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 valued at $734,000 after acquiring an additional 1,100 shares during the period. Finally, Voya Investment Management LLC increased its position in shares of 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 valued at $358,000 after acquiring an additional 1,435 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

SCHN has been the topic of a number of recent analyst reports. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, July 21st. BidaskClub downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Macquarie initiated coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They set a “neutral” rating and a $26.00 price target on the stock. ValuEngine downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Schnitzer Steel Industries has an average rating of “Hold” and an average price target of $29.33.

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.

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