Acadian Asset Management LLC Has $1.74 Million Position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)

Acadian Asset Management LLC cut its position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 88.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 68,953 shares of the basic materials company’s stock after selling 531,791 shares during the period. Acadian Asset Management LLC owned 0.25% of Schnitzer Steel Industries worth $1,737,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Alpha Windward LLC boosted its stake in Schnitzer Steel Industries by 5.6% in the first quarter. Alpha Windward LLC now owns 18,060 shares of the basic materials company’s stock worth $373,000 after buying an additional 960 shares in the last quarter. American International Group Inc. boosted its stake in Schnitzer Steel Industries by 7.1% in the first quarter. American International Group Inc. now owns 16,073 shares of the basic materials company’s stock worth $332,000 after buying an additional 1,061 shares in the last quarter. Adams Diversified Equity Fund Inc. boosted its stake in Schnitzer Steel Industries by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 40,600 shares of the basic materials company’s stock worth $838,000 after buying an additional 1,100 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Schnitzer Steel Industries by 6.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,268 shares of the basic materials company’s stock worth $495,000 after buying an additional 1,132 shares during the period. Finally, Wedbush Securities Inc. boosted its stake in Schnitzer Steel Industries by 11.2% in the first quarter. Wedbush Securities Inc. now owns 11,890 shares of the basic materials company’s stock worth $246,000 after buying an additional 1,200 shares during the period. Institutional investors own 84.49% of the company’s stock.

Schnitzer Steel Industries, Inc. (NASDAQ SCHN) traded up 0.99% during mid-day trading on Friday, hitting $25.60. The stock had a trading volume of 342,045 shares. The company has a 50 day moving average price of $25.62 and a 200 day moving average price of $22.21. Schnitzer Steel Industries, Inc. has a one year low of $17.30 and a one year high of $30.60. The stock has a market cap of $706.56 million, a P/E ratio of 16.64 and a beta of 1.33.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Monday, June 26th. The basic materials company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $477 million for the quarter. Schnitzer Steel Industries had a net margin of 2.68% and a return on equity of 8.34%. Schnitzer Steel Industries’s revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. On average, equities analysts anticipate that Schnitzer Steel Industries, Inc. will post $1.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be paid a dividend of $0.1875 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.75 annualized dividend and a yield of 2.93%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is 49.02%.

ILLEGAL ACTIVITY NOTICE: This report was first reported by BNB Daily and is the property of of BNB Daily. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.baseball-news-blog.com/2017/08/19/acadian-asset-management-llc-lowers-stake-in-schnitzer-steel-industries-inc-nasdaqschn-updated.html.

A number of research firms have recently commented on SCHN. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, July 21st. TheStreet upgraded Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Friday, June 30th. Finally, BidaskClub cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.

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

Receive News & Ratings for Schnitzer Steel Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply