Systematic Financial Management LP cut its stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,595 shares of the basic materials company’s stock after selling 19,210 shares during the period. Systematic Financial Management LP owned about 0.21% of Schnitzer Steel Industries worth $1,621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SCHN. Geode Capital Management LLC raised its holdings in shares of Schnitzer Steel Industries by 9.5% in the 1st quarter. Geode Capital Management LLC now owns 265,481 shares of the basic materials company’s stock worth $5,482,000 after buying an additional 23,085 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Schnitzer Steel Industries by 334.2% in the 1st quarter. Bank of America Corp DE now owns 53,357 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 41,068 shares in the last quarter. State Street Corp raised its holdings in shares of Schnitzer Steel Industries by 17.5% in the 1st quarter. State Street Corp now owns 1,323,730 shares of the basic materials company’s stock worth $27,335,000 after buying an additional 197,370 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Schnitzer Steel Industries by 571.9% in the 2nd quarter. Bank of Montreal Can now owns 59,196 shares of the basic materials company’s stock worth $1,492,000 after buying an additional 50,386 shares in the last quarter. Finally, Aperio Group LLC raised its holdings in shares of Schnitzer Steel Industries by 24.6% in the 2nd quarter. Aperio Group LLC now owns 93,768 shares of the basic materials company’s stock worth $2,363,000 after buying an additional 18,541 shares in the last quarter. 84.39% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 31st. Zacks Investment Research cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. KeyCorp reissued a “hold” rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. ValuEngine upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Finally, Macquarie assumed 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $29.33.

Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) opened at $28.10 on Monday. The company has a market capitalization of $760.46, a P/E ratio of 18.37 and a beta of 1.37. Schnitzer Steel Industries, Inc. has a 12-month low of $17.50 and a 12-month high of $31.35. 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 (NASDAQ:SCHN) last released its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The business had revenue of $494.00 million for the quarter, compared to analyst estimates of $495.73 million. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. Schnitzer Steel Industries’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. analysts anticipate that Schnitzer Steel Industries, Inc. will post 2.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.75 dividend on an annualized basis and a yield of 2.67%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 47.47%.

In related news, SVP Jeffery Dyck sold 8,327 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $30.05, for a total transaction of $250,226.35. Following the sale, the senior vice president now directly owns 49,184 shares in the company, valued at approximately $1,477,979.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Steven Heiskell sold 2,976 shares of the 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 sale, the senior vice president now owns 50,501 shares in the company, valued at $1,416,553.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,770 shares of company stock worth $654,919. 3.80% of the stock is owned by corporate insiders.

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Schnitzer Steel Industries 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.

Institutional Ownership by Quarter for Schnitzer Steel Industries (NASDAQ:SCHN)

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