Van ECK Associates Corp grew its stake in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 38.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,788 shares of the basic materials company’s stock after acquiring an additional 16,169 shares during the period. Van ECK Associates Corp owned 0.21% of Schnitzer Steel Industries worth $2,415,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Abundance Wealth Counselors acquired a new stake in shares of Schnitzer Steel Industries during the first quarter worth $34,000. Parallel Advisors LLC increased its position in Schnitzer Steel Industries by 40.9% during the first quarter. Parallel Advisors LLC now owns 834 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 242 shares during the period. Marshall Wace LLP acquired a new stake in Schnitzer Steel Industries in the 1st quarter worth about $71,000. Carolina Wealth Advisors LLC bought a new stake in Schnitzer Steel Industries in the 1st quarter valued at about $117,000. Finally, SG Americas Securities LLC acquired a new position in shares of Schnitzer Steel Industries during the 4th quarter worth approximately $205,000. Institutional investors own 84.36% of the company’s stock.
In related news, CFO Richard Peach sold 16,319 shares of the stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $53.86, for a total value of $878,941.34. Following the completion of the transaction, the chief financial officer now owns 203,126 shares of the company’s stock, valued at approximately $10,940,366.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Peter B. Saba sold 1,149 shares of the firm’s stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $50.60, for a total transaction of $58,139.40. Following the completion of the sale, the senior vice president now owns 63,991 shares in the company, valued at approximately $3,237,944.60. The disclosure for this sale can be found here. 5.70% of the stock is owned by corporate insiders.
SCHN stock opened at $49.89 on Friday. The firm has a 50-day moving average price of $51.60. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 24.94 and a beta of 1.40. The company has a current ratio of 1.95, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. Schnitzer Steel Industries, Inc. has a 12 month low of $15.47 and a 12 month high of $59.34.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Tuesday, April 6th. The basic materials company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.52. Schnitzer Steel Industries had a net margin of 2.94% and a return on equity of 9.76%. The business had revenue of $600.11 million for the quarter, compared to analysts’ expectations of $597.10 million. During the same period last year, the firm posted $0.31 earnings per share. As a group, equities research analysts forecast that Schnitzer Steel Industries, Inc. will post 5.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Monday, April 19th were issued a dividend of $0.1875 per share. The ex-dividend date was Friday, April 16th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.50%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is currently 174.42%.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in 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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