Chicago Equity Partners LLC boosted its stake in Schnitzer Steel Industries (NASDAQ:SCHN) by 61.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 281,020 shares of the basic materials company’s stock after buying an additional 107,395 shares during the quarter. Chicago Equity Partners LLC owned approximately 1.04% of Schnitzer Steel Industries worth $9,091,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. lifted its position in Schnitzer Steel Industries by 96.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,015 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,481 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Schnitzer Steel Industries during the 1st quarter valued at $113,000. OppenheimerFunds Inc. bought a new position in shares of Schnitzer Steel Industries during the 4th quarter valued at $247,000. UBS Asset Management Americas Inc. bought a new position in shares of Schnitzer Steel Industries during the 4th quarter valued at $258,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Schnitzer Steel Industries during the 4th quarter valued at $307,000. Institutional investors own 92.49% of the company’s stock.
Schnitzer Steel Industries stock opened at $31.90 on Friday. Schnitzer Steel Industries has a 1-year low of $31.15 and a 1-year high of $31.45. The company has a current ratio of 2.42, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36. The firm has a market cap of $861.97 million, a PE ratio of 11.69 and a beta of 1.45.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its earnings results on Thursday, April 5th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.51. Schnitzer Steel Industries had a net margin of 4.68% and a return on equity of 14.28%. The business had revenue of $559.00 million for the quarter, compared to analyst estimates of $507.82 million. During the same period last year, the business posted $0.37 EPS. Schnitzer Steel Industries’s revenue was up 46.3% compared to the same quarter last year. research analysts expect that Schnitzer Steel Industries will post 3.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 29th. Investors of record on Monday, May 14th will be paid a $0.1875 dividend. The ex-dividend date is Friday, May 11th. This represents a $0.75 dividend on an annualized basis and a yield of 2.35%. Schnitzer Steel Industries’s payout ratio is presently 49.02%.
A number of 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 report on Thursday. ValuEngine upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Zacks Investment Research downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Schnitzer Steel Industries has a consensus rating of “Hold” and an average price target of $33.25.
Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers 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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