Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 5.3% during the first quarter, Holdings Channel reports. The fund owned 76,914 shares of the basic materials company’s stock after selling 4,325 shares during the quarter. California Public Employees Retirement System’s holdings in Schnitzer Steel Industries were worth $1,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Acadian Asset Management LLC increased its stake in Schnitzer Steel Industries by 11.5% in the 4th quarter. Acadian Asset Management LLC now owns 715,205 shares of the basic materials company’s stock worth $15,415,000 after acquiring an additional 73,875 shares during the last quarter. LSV Asset Management increased its stake in Schnitzer Steel Industries by 98.3% in the 4th quarter. LSV Asset Management now owns 638,113 shares of the basic materials company’s stock worth $13,751,000 after acquiring an additional 316,270 shares during the last quarter. Norges Bank bought a new position in Schnitzer Steel Industries in the 4th quarter worth about $13,016,000. Bank of New York Mellon Corp increased its stake in Schnitzer Steel Industries by 108.2% in the 4th quarter. Bank of New York Mellon Corp now owns 541,957 shares of the basic materials company’s stock worth $11,679,000 after acquiring an additional 281,689 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Schnitzer Steel Industries by 16.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 376,454 shares of the basic materials company’s stock worth $9,036,000 after acquiring an additional 54,006 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Shares of Schnitzer Steel Industries stock opened at $22.55 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.29 and a current ratio of 2.45. The stock has a market cap of $594.96 million, a PE ratio of 4.18 and a beta of 1.30. Schnitzer Steel Industries, Inc. has a 12 month low of $20.94 and a 12 month high of $37.95.



Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Thursday, April 4th. The basic materials company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The firm had revenue of $474.00 million for the quarter, compared to analyst estimates of $487.25 million. Schnitzer Steel Industries had a return on equity of 18.95% and a net margin of 5.35%. The company’s revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Research analysts forecast that Schnitzer Steel Industries, Inc. will post 2.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were given a dividend of $0.1875 per share. The ex-dividend date was Friday, May 10th. This represents a $0.75 annualized dividend and a dividend yield of 3.33%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 13.91%.

SCHN has been the topic of a number of research analyst reports. BidaskClub lowered Schnitzer Steel Industries from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 9th. ValuEngine upgraded Schnitzer Steel Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 2nd. Cowen set a $25.00 target price on Schnitzer Steel Industries and gave the stock a “hold” rating in a research note on Wednesday, February 20th. Finally, Zacks Investment Research upgraded Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Schnitzer Steel Industries presently has a consensus rating of “Sell” and an average target price of $27.80.

In other news, SVP Jeffery Dyck sold 5,337 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $23.94, for a total transaction of $127,767.78. Following the transaction, the senior vice president now directly owns 64,063 shares in the company, valued at approximately $1,533,668.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

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Schnitzer Steel Industries 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.

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

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