Cowen began coverage on shares of Schnitzer Steel Industries (NASDAQ:SCHN) in a report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a market perform rating and a $24.00 price objective on the basic materials company’s stock.

Several other equities analysts also recently weighed in on SCHN. Zacks Investment Research upgraded Schnitzer Steel Industries from a sell rating to a hold rating in a research report on Wednesday, October 17th. ValuEngine downgraded Schnitzer Steel Industries from a sell rating to a strong sell rating in a research report on Friday, December 21st. BidaskClub downgraded Schnitzer Steel Industries from a hold rating to a sell rating in a research report on Thursday, December 27th. Finally, Macquarie reduced their target price on Schnitzer Steel Industries from $37.00 to $28.00 and set a hold rating on the stock in a research report on Friday, September 28th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $30.20.

Shares of SCHN traded down $0.22 during trading hours on Tuesday, reaching $22.66. 15,678 shares of the company traded hands, compared to its average volume of 336,772. The company has a quick ratio of 0.95, a current ratio of 1.76 and a debt-to-equity ratio of 0.16. The firm has a market cap of $628.83 million, a P/E ratio of 4.20 and a beta of 1.32. Schnitzer Steel Industries has a fifty-two week low of $20.94 and a fifty-two week high of $38.85.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Wednesday, January 9th. The basic materials company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $564.00 million for the quarter, compared to analyst estimates of $561.48 million. Schnitzer Steel Industries had a return on equity of 22.10% and a net margin of 6.31%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. As a group, equities analysts expect that Schnitzer Steel Industries will post 2.23 EPS for the current fiscal year.

In other news, SVP Peter B. Saba sold 7,356 shares of Schnitzer Steel Industries stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $26.64, for a total value of $195,963.84. Following the completion of the transaction, the senior vice president now owns 44,198 shares in the company, valued at approximately $1,177,434.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stefano R. Gaggini sold 4,401 shares of Schnitzer Steel Industries stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $26.75, for a total value of $117,726.75. Following the completion of the transaction, the chief financial officer now owns 30,467 shares of the company’s stock, valued at approximately $814,992.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,170 shares of company stock valued at $1,335,920. 4.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of SCHN. Matarin Capital Management LLC bought a new stake in shares of Schnitzer Steel Industries in the 3rd quarter worth approximately $13,596,000. BlackRock Inc. lifted its holdings in shares of Schnitzer Steel Industries by 6.6% in the 2nd quarter. BlackRock Inc. now owns 2,847,448 shares of the basic materials company’s stock worth $95,958,000 after purchasing an additional 175,455 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Schnitzer Steel Industries in the 3rd quarter worth approximately $4,733,000. Marshall Wace LLP bought a new stake in shares of Schnitzer Steel Industries in the 3rd quarter worth approximately $2,513,000. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Schnitzer Steel Industries in the 3rd quarter worth approximately $2,465,000. Institutional investors own 86.02% of the company’s stock.

About Schnitzer Steel Industries

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.

Further Reading: Determine Your Level of Risk Tolerance

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.