Schnitzer Steel Industries Sees Unusually Large Options Volume (NASDAQ:SCHN)

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 595 put options on the stock. This is an increase of approximately 892% compared to the average volume of 60 put options.

A number of hedge funds have recently made changes to their positions in SCHN. Norges Bank purchased a new stake in Schnitzer Steel Industries during the fourth quarter worth $3,865,000. UBS Asset Management Americas Inc. purchased a new position in Schnitzer Steel Industries during the fourth quarter valued at $949,000. JPMorgan Chase & Co. lifted its stake in Schnitzer Steel Industries by 152.3% in the 4th quarter. JPMorgan Chase & Co. now owns 100,480 shares of the basic materials company’s stock valued at $3,206,000 after buying an additional 60,662 shares in the last quarter. Morgan Stanley raised its holdings in shares of Schnitzer Steel Industries by 6.1% during the fourth quarter. Morgan Stanley now owns 490,879 shares of the basic materials company’s stock valued at $15,664,000 after acquiring an additional 28,048 shares during the last quarter. Finally, Credit Suisse AG raised its stake in Schnitzer Steel Industries by 23.5% in the 4th quarter. Credit Suisse AG now owns 52,320 shares of the basic materials company’s stock valued at $1,669,000 after purchasing an additional 9,953 shares during the last quarter. Institutional investors own 80.89% of the company’s stock.

Schnitzer Steel Industries stock opened at $41.75 on Thursday. Schnitzer Steel Industries has a twelve month low of $12.93 and a twelve month high of $46.86. The business has a fifty day moving average of $39.96 and a two-hundred day moving average of $30.13. The firm has a market cap of $1.13 billion, a P/E ratio of 69.58 and a beta of 1.37. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.21.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Wednesday, April 7th. The basic materials company reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.52. Schnitzer Steel Industries had a return on equity of 4.83% and a net margin of 0.94%. During the same period in the previous year, the business posted $0.31 earnings per share. Equities analysts expect that Schnitzer Steel Industries will post 2.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Monday, April 19th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.80%. Schnitzer Steel Industries’s payout ratio is 174.42%.

A number of equities research analysts recently commented on the company. TheStreet upgraded Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Thursday, January 7th. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, March 9th. Finally, KeyCorp lifted their price objective on shares of Schnitzer Steel Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 22nd.

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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