Rutabaga Capital Management LLC MA Decreases Position in Schnitzer Steel Industries, Inc. (SCHN)

Rutabaga Capital Management LLC MA reduced its stake in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 21.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 536,066 shares of the basic materials company’s stock after selling 145,850 shares during the period. Schnitzer Steel Industries accounts for 4.1% of Rutabaga Capital Management LLC MA’s investment portfolio, making the stock its 8th biggest holding. Rutabaga Capital Management LLC MA owned 1.97% of Schnitzer Steel Industries worth $17,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Koch Industries Inc. acquired a new position in shares of Schnitzer Steel Industries during the second quarter valued at about $367,000. Hillcrest Asset Management LLC acquired a new position in Schnitzer Steel Industries in the third quarter worth about $5,651,000. Telemark Asset Management LLC acquired a new position in Schnitzer Steel Industries in the third quarter worth about $5,630,000. Mackenzie Financial Corp acquired a new position in Schnitzer Steel Industries in the third quarter worth about $4,304,000. Finally, Peregrine Asset Advisers Inc. acquired a new position in Schnitzer Steel Industries in the fourth quarter worth about $3,894,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Several analysts have recently commented on SCHN shares. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a report on Tuesday, January 2nd. BidaskClub upgraded shares of Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Finally, Morgan Stanley raised their price objective on shares of Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $31.33.

Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) traded up $1.10 on Monday, hitting $35.95. 342,200 shares of the stock were exchanged, compared to its average volume of 405,452. The company has a market cap of $977.95, a P/E ratio of 15.77 and a beta of 1.40. The company has a current ratio of 2.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Schnitzer Steel Industries, Inc. has a 52 week low of $17.50 and a 52 week high of $38.85.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its earnings results on Tuesday, January 9th. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Schnitzer Steel Industries had a net margin of 3.50% and a return on equity of 11.90%. The business had revenue of $483.00 million during the quarter, compared to the consensus estimate of $502.02 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. Schnitzer Steel Industries’s revenue was up 44.6% compared to the same quarter last year. analysts expect that Schnitzer Steel Industries, Inc. will post 2.67 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, February 9th. Schnitzer Steel Industries’s payout ratio is presently 32.89%.

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Schnitzer Steel Industries Company Profile

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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