Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $30.25.

A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. ValuEngine upgraded shares of Schnitzer Steel Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, October 26th. Macquarie set a $29.00 price target on shares of Schnitzer Steel Industries and gave the company a “hold” rating in a research note on Thursday, October 25th. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Wednesday, December 12th. Finally, Cowen began coverage on shares of Schnitzer Steel Industries in a report on Tuesday. They issued a “market perform” rating and a $24.00 price objective for the company.

Schnitzer Steel Industries stock traded up $0.11 during trading hours on Friday, reaching $22.99. 24,452 shares of the stock were exchanged, compared to its average volume of 336,772. The company has a market capitalization of $628.83 million, a price-to-earnings ratio of 4.26 and a beta of 1.32. The company has a quick ratio of 0.95, a current ratio of 1.76 and a debt-to-equity ratio of 0.16. Schnitzer Steel Industries has a twelve month low of $20.94 and a twelve month high of $38.85.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Wednesday, January 9th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm 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 22.10%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. On average, sell-side analysts expect that Schnitzer Steel Industries will post 2.23 earnings per share for the current year.

In other Schnitzer Steel Industries news, SVP Steven Heiskell sold 13,316 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $27.26, for a total transaction of $362,994.16. Following the completion of the transaction, the senior vice president now owns 65,556 shares in the company, valued at approximately $1,787,056.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard Peach sold 6,030 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $27.56, for a total transaction of $166,186.80. Following the transaction, the chief financial officer now owns 131,298 shares of the company’s stock, valued at approximately $3,618,572.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,170 shares of company stock valued at $1,335,920. 4.10% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in SCHN. First Trust Advisors LP boosted its holdings in Schnitzer Steel Industries by 81.6% during the 2nd quarter. First Trust Advisors LP now owns 47,592 shares of the basic materials company’s stock worth $1,604,000 after acquiring an additional 21,380 shares during the last quarter. BlackRock Inc. raised its stake in shares of Schnitzer Steel Industries by 6.6% during 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 period. BlueMountain Capital Management LLC raised its stake in shares of Schnitzer Steel Industries by 125.9% during the 2nd quarter. BlueMountain Capital Management LLC now owns 8,151 shares of the basic materials company’s stock worth $275,000 after purchasing an additional 4,542 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Schnitzer Steel Industries by 42.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 12,251 shares of the basic materials company’s stock worth $412,000 after purchasing an additional 3,633 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in shares of Schnitzer Steel Industries during the 2nd quarter worth $206,000. Hedge funds and other 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.

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