Schnitzer Steel Industries, Inc. (SCHN) Holdings Trimmed by Systematic Financial Management LP

Systematic Financial Management LP cut its stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 25.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,595 shares of the basic materials company’s stock after selling 19,210 shares during the period. Systematic Financial Management LP owned approximately 0.21% of Schnitzer Steel Industries worth $1,621,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in Schnitzer Steel Industries by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,261 shares of the basic materials company’s stock valued at $536,000 after buying an additional 942 shares during the last quarter. D.A. Davidson & CO. grew its position in Schnitzer Steel Industries by 5.9% in the 2nd quarter. D.A. Davidson & CO. now owns 17,588 shares of the basic materials company’s stock worth $443,000 after purchasing an additional 987 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Schnitzer Steel Industries by 3.9% during the 2nd quarter. Alliancebernstein L.P. now owns 29,130 shares of the basic materials company’s stock worth $734,000 after acquiring an additional 1,100 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Schnitzer Steel Industries by 11.2% during the 2nd quarter. Voya Investment Management LLC now owns 14,205 shares of the basic materials company’s stock worth $358,000 after acquiring an additional 1,435 shares during the period. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in Schnitzer Steel Industries by 10.8% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 15,464 shares of the basic materials company’s stock valued at $390,000 after purchasing an additional 1,508 shares during the last quarter. Institutional investors and hedge funds own 86.84% of the company’s stock.

In other news, SVP Jeffery Dyck sold 8,327 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $30.05, for a total transaction of $250,226.35. Following the completion of the sale, the senior vice president now owns 49,184 shares of the company’s stock, valued at approximately $1,477,979.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Peter B. Saba sold 2,393 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $26.52, for a total transaction of $63,462.36. Following the sale, the senior vice president now directly owns 30,911 shares of the company’s stock, valued at approximately $819,759.72. The disclosure for this sale can be found here. Insiders sold 22,770 shares of company stock valued at $654,919 in the last three months. Company insiders own 3.80% of the company’s stock.

SCHN has been the subject of several analyst reports. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Saturday, October 21st. BidaskClub cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. KeyCorp restated a “hold” rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. ValuEngine lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, Macquarie began coverage on shares of Schnitzer Steel Industries in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price target on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.33.

Schnitzer Steel Industries, Inc. (SCHN) opened at $28.65 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.92 and a quick ratio of 0.97. Schnitzer Steel Industries, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $31.35. The company has a market cap of $795.62, a price-to-earnings ratio of 19.22 and a beta of 1.36.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $494.00 million for the quarter, compared to the consensus estimate of $495.73 million. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. Schnitzer Steel Industries’s revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. equities research analysts predict that Schnitzer Steel Industries, Inc. will post 2.12 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were issued a $0.1875 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.62%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is currently 47.17%.

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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.

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

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