Schnitzer Steel Industries (NASDAQ:SCHN) released its quarterly earnings results on Wednesday. The basic materials company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.39 by $0.18, MarketWatch Earnings reports. Schnitzer Steel Industries had a net margin of 0.19% and a return on equity of 2.52%. During the same period in the prior year, the business posted ($0.17) earnings per share.
Shares of SCHN traded down $2.45 during trading hours on Friday, reaching $36.76. The company had a trading volume of 11,379 shares, compared to its average volume of 407,391. The firm has a 50 day simple moving average of $28.91 and a 200-day simple moving average of $21.86. The company has a current ratio of 3.95, a quick ratio of 2.98 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $996.49 million, a price-to-earnings ratio of 331.85 and a beta of 1.42. Schnitzer Steel Industries has a 12-month low of $10.09 and a 12-month high of $42.19.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 18th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.04%. Schnitzer Steel Industries’s dividend payout ratio is presently 34.72%.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a research report on Friday, November 27th. BidaskClub upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 8th. Finally, KeyCorp upped their price target on shares of Schnitzer Steel Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, December 22nd.
In other news, CFO Stefano R. Gaggini sold 3,975 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $21.40, for a total value of $85,065.00. Following the completion of the transaction, the chief financial officer now owns 50,270 shares in the company, valued at approximately $1,075,778. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Peter B. Saba sold 9,049 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $21.52, for a total transaction of $194,734.48. Following the completion of the transaction, the senior vice president now owns 69,114 shares of the company’s stock, valued at approximately $1,487,333.28. The disclosure for this sale can be found here. Insiders sold a total of 17,440 shares of company stock valued at $378,011 in the last quarter. Insiders own 5.00% of the company’s stock.
Schnitzer Steel Industries Company Profile
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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