Municipal Employees Retirement System of Michigan Buys New Stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)

Municipal Employees Retirement System of Michigan purchased a new position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 56,500 shares of the basic materials company’s stock, valued at approximately $1,218,000. Municipal Employees Retirement System of Michigan owned 0.21% of Schnitzer Steel Industries as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Schnitzer Steel Industries by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,833,756 shares of the basic materials company’s stock valued at $76,653,000 after buying an additional 64,054 shares in the last quarter. Vanguard Group Inc lifted its stake in Schnitzer Steel Industries by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 2,833,756 shares of the basic materials company’s stock valued at $76,653,000 after buying an additional 64,054 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Schnitzer Steel Industries by 11.5% in the 4th quarter. Acadian Asset Management LLC now owns 715,205 shares of the basic materials company’s stock valued at $15,415,000 after buying an additional 73,875 shares in the last quarter. Teachers Advisors LLC lifted its stake in Schnitzer Steel Industries by 1.4% in the 3rd quarter. Teachers Advisors LLC now owns 666,449 shares of the basic materials company’s stock worth $18,027,000 after purchasing an additional 9,518 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Schnitzer Steel Industries by 98.3% in the 4th quarter. LSV Asset Management now owns 638,113 shares of the basic materials company’s stock worth $13,751,000 after purchasing an additional 316,270 shares in the last quarter. 86.46% of the stock is currently owned by institutional investors.

SCHN has been the topic of a number of research reports. BidaskClub lowered shares of Schnitzer Steel Industries from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 9th. Goldman Sachs Group lowered shares of Schnitzer Steel Industries from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $27.00 in a research report on Monday, January 14th. Cowen started coverage on shares of Schnitzer Steel Industries in a report on Tuesday, January 8th. They issued a “market perform” rating and a $24.00 target price for the company. ValuEngine downgraded shares of Schnitzer Steel Industries from a “sell” rating to a “strong sell” rating in a report on Friday, December 21st. Finally, Zacks Investment Research downgraded shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Saturday, January 5th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Schnitzer Steel Industries currently has a consensus rating of “Hold” and an average price target of $27.80.

Shares of NASDAQ:SCHN remained flat at $$24.86 during trading on Monday. 187,024 shares of the company’s stock traded hands, compared to its average volume of 269,350. The firm has a market capitalization of $681.05 million, a P/E ratio of 4.61 and a beta of 1.29. The company has a current ratio of 2.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.24. Schnitzer Steel Industries, Inc. has a fifty-two week low of $20.94 and a fifty-two week high of $37.95.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Thursday, April 4th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $487.25 million. Schnitzer Steel Industries had a net margin of 5.35% and a return on equity of 18.95%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. As a group, research analysts expect that Schnitzer Steel Industries, Inc. will post 2.27 earnings per share for the current fiscal year.

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Schnitzer Steel Industries Profile

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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Institutional Ownership by Quarter for Schnitzer Steel Industries (NASDAQ:SCHN)

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