Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 909,600 shares, a growth of 28.4% from the November 30th total of 708,200 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 234,500 shares, the short-interest ratio is currently 3.9 days.
Shares of Schnitzer Steel Industries stock opened at $48.76 on Friday. The company has a current ratio of 1.54, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $51.49 and its 200-day simple moving average is $49.60. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.68 and a beta of 1.50. Schnitzer Steel Industries has a twelve month low of $27.72 and a twelve month high of $59.34.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings results on Wednesday, January 5th. The basic materials company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.18). Schnitzer Steel Industries had a return on equity of 23.38% and a net margin of 5.99%. The company had revenue of $798.00 million for the quarter, compared to analyst estimates of $857.06 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was up 62.2% compared to the same quarter last year. Sell-side analysts predict that Schnitzer Steel Industries will post 6.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 14th. Investors of record on Monday, January 31st will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, January 28th. Schnitzer Steel Industries’s dividend payout ratio is currently 13.35%.
In other Schnitzer Steel Industries news, CFO Stefano R. Gaggini sold 4,577 shares of the company’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $51.34, for a total transaction of $234,983.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael R. Henderson sold 7,721 shares of the company’s stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $52.11, for a total value of $402,341.31. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. boosted its stake in Schnitzer Steel Industries by 6.3% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 33,962 shares of the basic materials company’s stock valued at $1,488,000 after purchasing an additional 2,012 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Schnitzer Steel Industries by 3.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,614 shares of the basic materials company’s stock valued at $596,000 after purchasing an additional 480 shares in the last quarter. Nia Impact Advisors LLC boosted its stake in Schnitzer Steel Industries by 15.7% during the 3rd quarter. Nia Impact Advisors LLC now owns 99,501 shares of the basic materials company’s stock valued at $4,359,000 after purchasing an additional 13,473 shares in the last quarter. Two Sigma Investments LP boosted its stake in Schnitzer Steel Industries by 123.9% during the 3rd quarter. Two Sigma Investments LP now owns 26,886 shares of the basic materials company’s stock valued at $1,178,000 after purchasing an additional 14,876 shares in the last quarter. Finally, UBS Group AG boosted its stake in Schnitzer Steel Industries by 4.6% during the 3rd quarter. UBS Group AG now owns 16,606 shares of the basic materials company’s stock valued at $728,000 after purchasing an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 82.27% of the company’s stock.
Separately, Zacks Investment Research cut Schnitzer Steel Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 24th.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc engages in the recycling of ferrous and nonferrous scrap metal and manufacture of finished steel products. It operates through the following segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS). The Auto and Metals Recycling segment acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers and procure salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores.
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