Russell Investments Group Ltd. boosted its position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 128.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,681 shares of the basic materials company’s stock after buying an additional 53,201 shares during the period. Russell Investments Group Ltd. owned approximately 0.36% of Schnitzer Steel Industries worth $2,051,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in Schnitzer Steel Industries during the 1st quarter valued at approximately $71,000. Meeder Asset Management Inc. boosted its holdings in Schnitzer Steel Industries by 257.5% in the third quarter. Meeder Asset Management Inc. now owns 3,707 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 2,670 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Schnitzer Steel Industries during the 4th quarter worth about $101,000. New York State Teachers Retirement System grew its position in Schnitzer Steel Industries by 293.3% during the 4th quarter. New York State Teachers Retirement System now owns 9,046 shares of the basic materials company’s stock worth $196,000 after purchasing an additional 6,746 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Schnitzer Steel Industries during the 3rd quarter valued at about $277,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.
A number of analysts have recently commented on SCHN shares. ValuEngine downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Zacks Investment Research upgraded Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, BidaskClub downgraded Schnitzer Steel Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.25.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Wednesday, January 8th. The basic materials company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Schnitzer Steel Industries had a return on equity of 5.56% and a net margin of 1.68%. The company had revenue of $405.58 million during the quarter, compared to analysts’ expectations of $406.46 million. During the same quarter in the previous year, the company earned $0.58 EPS. The firm’s quarterly revenue was down 28.1% compared to the same quarter last year. As a group, equities analysts anticipate that Schnitzer Steel Industries, Inc. will post 0.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, February 7th. This represents a $0.75 dividend on an annualized basis and a yield of 4.32%. Schnitzer Steel Industries’s dividend payout ratio is currently 34.72%.
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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