US Bancorp DE Has $65,000 Position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)

US Bancorp DE raised its position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 284.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,322 shares of the basic materials company’s stock after acquiring an additional 978 shares during the quarter. US Bancorp DE’s holdings in Schnitzer Steel Industries were worth $65,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SCHN. BlackRock Inc. increased its position in Schnitzer Steel Industries by 15.0% during the first quarter. BlackRock Inc. now owns 3,509,922 shares of the basic materials company’s stock worth $146,679,000 after acquiring an additional 456,654 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Schnitzer Steel Industries by 30.2% in the 1st quarter. Acadian Asset Management LLC now owns 820,232 shares of the basic materials company’s stock valued at $34,279,000 after purchasing an additional 190,041 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Schnitzer Steel Industries in the 1st quarter valued at approximately $7,625,000. FMR LLC boosted its position in Schnitzer Steel Industries by 274,901.9% during the 1st quarter. FMR LLC now owns 143,001 shares of the basic materials company’s stock worth $3,432,000 after buying an additional 142,949 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Schnitzer Steel Industries by 640.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 107,470 shares of the basic materials company’s stock worth $4,491,000 after buying an additional 92,955 shares during the period. 81.51% of the stock is currently owned by institutional investors.

NASDAQ SCHN opened at $39.82 on Tuesday. The company has a market cap of $1.10 billion, a PE ratio of 9.20 and a beta of 1.36. Schnitzer Steel Industries, Inc. has a 52 week low of $18.78 and a 52 week high of $59.34. The company has a quick ratio of 1.11, a current ratio of 1.97 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $49.10 and its two-hundred day simple moving average is $48.40.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings results on Tuesday, June 29th. The basic materials company reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.11. Schnitzer Steel Industries had a return on equity of 18.11% and a net margin of 5.31%. The firm had revenue of $820.72 million for the quarter, compared to analysts’ expectations of $734.50 million. During the same period in the prior year, the business posted $0.05 earnings per share. As a group, equities research analysts anticipate that Schnitzer Steel Industries, Inc. will post 5.82 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 26th. Investors of record on Monday, July 12th were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, July 9th. Schnitzer Steel Industries’s dividend payout ratio (DPR) is 174.42%.

SCHN has been the subject of several analyst reports. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 15th. Northland Securities began coverage on shares of Schnitzer Steel Industries in a report on Monday, July 19th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $42.67.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc engages in the recycling of ferrous and nonferrous scrap metal and manufacture of finished steel products. It operates through the following segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS). The AMR segment acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers and procure salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores.

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

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