Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,643,931 shares of the basic materials company’s stock after acquiring an additional 35,680 shares during the period. Vanguard Group Inc. owned approximately 9.87% of Schnitzer Steel Industries worth $69,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BSW Wealth Partners acquired a new stake in shares of Schnitzer Steel Industries in the second quarter worth approximately $52,000. Marshall Wace LLP acquired a new stake in shares of Schnitzer Steel Industries in the first quarter worth approximately $71,000. Smith Asset Management Group LP acquired a new stake in shares of Schnitzer Steel Industries in the second quarter worth approximately $82,000. Marshall Wace North America L.P. acquired a new stake in shares of Schnitzer Steel Industries in the first quarter worth approximately $143,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Schnitzer Steel Industries in the second quarter worth approximately $201,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

SCHN has been the topic of several research analyst reports. BidaskClub cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Goldman Sachs Group cut shares of Schnitzer Steel Industries from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $27.00 to $23.00 in a research report on Sunday, September 22nd. Zacks Investment Research cut shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Cowen decreased their target price on shares of Schnitzer Steel Industries from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Macquarie set a $23.00 target price on shares of Schnitzer Steel Industries and gave the stock a “hold” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $23.50.

SCHN opened at $20.50 on Friday. The stock has a market capitalization of $519.76 million, a PE ratio of 5.20 and a beta of 1.45. 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 1 year low of $18.68 and a 1 year high of $28.90. The company’s 50 day simple moving average is $22.10 and its 200 day simple moving average is $23.72.

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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