GSA Capital Partners LLP Cuts Holdings in Schnitzer Steel Industries, Inc. (SCHN)
GSA Capital Partners LLP decreased its holdings in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,405 shares of the basic materials company’s stock after selling 3,389 shares during the quarter. GSA Capital Partners LLP owned approximately 0.09% of Schnitzer Steel Industries worth $715,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Algert Global LLC acquired a new stake in Schnitzer Steel Industries during the 3rd quarter valued at $377,000. Sterling Capital Management LLC acquired a new stake in shares of Schnitzer Steel Industries during the third quarter worth $936,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Schnitzer Steel Industries during the third quarter worth $3,130,000. Royce & Associates LP lifted its holdings in shares of Schnitzer Steel Industries by 11.3% during the third quarter. Royce & Associates LP now owns 377,705 shares of the basic materials company’s stock worth $10,632,000 after buying an additional 38,452 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Schnitzer Steel Industries during the third quarter worth $395,000. 86.84% of the stock is owned by institutional investors and hedge funds.
Schnitzer Steel Industries, Inc. (NASDAQ SCHN) opened at $33.50 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.92 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $910.64, a P/E ratio of 21.07 and a beta of 1.36. Schnitzer Steel Industries, Inc. has a 12 month low of $17.50 and a 12 month high of $35.15.
SCHN has been the topic of a number of recent analyst reports. ValuEngine upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Saturday, October 21st. Morgan Stanley raised their price target on Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 31st. KeyCorp restated a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Finally, Macquarie initiated coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.33.
In other news, CFO Richard Peach sold 8,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $28.33, for a total transaction of $226,640.00. Following the transaction, the chief financial officer now owns 119,283 shares of the company’s stock, valued at approximately $3,379,287.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter B. Saba sold 2,393 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.52, for a total value of $63,462.36. Following the sale, the senior vice president now directly owns 30,911 shares in the company, valued at approximately $819,759.72. The disclosure for this sale can be found here. Insiders sold a total of 22,770 shares of company stock valued at $654,919 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.
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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