361 Capital LLC purchased a new position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,015 shares of the basic materials company’s stock, valued at approximately $2,004,000. 361 Capital LLC owned approximately 0.34% of Schnitzer Steel Industries as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCHN. Matarin Capital Management LLC purchased a new stake in Schnitzer Steel Industries during the third quarter worth $13,596,000. LSV Asset Management boosted its holdings in Schnitzer Steel Industries by 98.3% during the fourth quarter. LSV Asset Management now owns 638,113 shares of the basic materials company’s stock worth $13,751,000 after buying an additional 316,270 shares in the last quarter. Marshall Wace LLP purchased a new stake in Schnitzer Steel Industries during the third quarter worth $2,513,000. Tocqueville Asset Management L.P. purchased a new stake in Schnitzer Steel Industries during the third quarter worth $2,465,000. Finally, SG Americas Securities LLC purchased a new stake in Schnitzer Steel Industries during the third quarter worth $2,239,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the stock. Cowen set a $25.00 price target on shares of Schnitzer Steel Industries and gave the stock a “hold” rating in a report on Wednesday. Goldman Sachs Group downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $27.00 in a report on Monday, January 14th. Zacks Investment Research downgraded shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Saturday, January 5th. BidaskClub downgraded shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Thursday, December 27th. Finally, ValuEngine downgraded shares of Schnitzer Steel Industries from a “sell” rating to a “strong sell” rating in a report on Friday, December 21st. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Schnitzer Steel Industries has a consensus rating of “Sell” and an average price target of $27.40.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Wednesday, January 9th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $564.00 million for the quarter, compared to the consensus estimate of $561.48 million. Schnitzer Steel Industries had a net margin of 6.31% and a return on equity of 21.67%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. On average, research analysts anticipate that Schnitzer Steel Industries, Inc. will post 2.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 25th. Shareholders of record on Monday, February 11th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, February 8th. Schnitzer Steel Industries’s payout ratio is 13.91%.
Schnitzer Steel Industries Company Profile
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.
Featured Article: Do Tariffs Work?
Receive News & Ratings for Schnitzer Steel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries and related companies with MarketBeat.com's FREE daily email newsletter.