Quantitative Systematic Strategies LLC Invests $201,000 in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)

Quantitative Systematic Strategies LLC acquired a new position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,664 shares of the basic materials company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of Schnitzer Steel Industries by 20.2% during the first quarter. Bank of Montreal Can now owns 8,866 shares of the basic materials company’s stock worth $213,000 after acquiring an additional 1,493 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Schnitzer Steel Industries by 8.0% during the first quarter. Martingale Asset Management L P now owns 153,239 shares of the basic materials company’s stock worth $3,678,000 after acquiring an additional 11,400 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of Schnitzer Steel Industries by 62.8% during the second quarter. WINTON GROUP Ltd now owns 50,872 shares of the basic materials company’s stock worth $1,331,000 after acquiring an additional 19,620 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Schnitzer Steel Industries by 401.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,055 shares of the basic materials company’s stock worth $195,000 after acquiring an additional 7,250 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Schnitzer Steel Industries by 11.8% during the fourth quarter. Deutsche Bank AG now owns 330,474 shares of the basic materials company’s stock worth $7,120,000 after acquiring an additional 34,813 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

A number of equities analysts have recently issued reports on SCHN shares. ValuEngine downgraded Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research report on Saturday. BidaskClub downgraded Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Zacks Investment Research downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Cowen reiterated a “market perform” rating and issued a $25.00 target price (up from $24.00) on shares of Schnitzer Steel Industries in a report on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $27.20.

SCHN stock traded down $1.07 during mid-day trading on Friday, reaching $24.12. The company’s stock had a trading volume of 206,793 shares, compared to its average volume of 187,367. The company has a market capitalization of $655.53 million, a P/E ratio of 6.56 and a beta of 1.45. The business’s 50 day moving average price is $25.45. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 2.36. Schnitzer Steel Industries, Inc. has a 12 month low of $20.94 and a 12 month high of $30.11.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Wednesday, June 26th. The basic materials company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The business had revenue of $547.00 million during the quarter, compared to the consensus estimate of $542.24 million. Schnitzer Steel Industries had a return on equity of 15.72% and a net margin of 4.63%. The firm’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Research analysts anticipate that Schnitzer Steel Industries, Inc. will post 2.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.75 dividend on an annualized basis and a yield of 3.11%. Schnitzer Steel Industries’s payout ratio is currently 13.91%.

About Schnitzer Steel Industries

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.

Recommended Story: How are the companies in the S&P 500 selected?

Want to see what other hedge funds are holding SCHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schnitzer Steel Industries, Inc. (NASDAQ:SCHN).

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

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