Schnitzer Steel Industries (NASDAQ:SCHN) posted its quarterly earnings data on Wednesday. The basic materials company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.18), MarketWatch Earnings reports. Schnitzer Steel Industries had a return on equity of 23.38% and a net margin of 5.99%. The firm had revenue of $798.00 million for the quarter, compared to analysts’ expectations of $857.06 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was up 62.2% on a year-over-year basis.
Shares of NASDAQ:SCHN traded up $2.64 during trading on Friday, reaching $48.74. 32,709 shares of the company traded hands, compared to its average volume of 489,727. The firm has a fifty day simple moving average of $51.59 and a 200 day simple moving average of $49.61. The firm has a market cap of $1.34 billion, a P/E ratio of 8.69 and a beta of 1.50. Schnitzer Steel Industries has a 1-year low of $27.72 and a 1-year high of $59.34. The company has a quick ratio of 0.81, a current ratio of 1.54 and a debt-to-equity ratio of 0.08.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 14th. Shareholders of record on Monday, January 31st will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.54%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is currently 13.35%.
In other Schnitzer Steel Industries news, CFO Stefano R. Gaggini sold 4,577 shares of the business’s stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $51.34, for a total transaction of $234,983.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael R. Henderson sold 7,721 shares of the business’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $52.11, for a total transaction of $402,341.31. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Morgan Stanley increased its holdings in shares of Schnitzer Steel Industries by 12.2% during the 3rd quarter. Morgan Stanley now owns 187,777 shares of the basic materials company’s stock worth $8,227,000 after purchasing an additional 20,442 shares during the period. UBS Group AG increased its stake in Schnitzer Steel Industries by 4.6% in the third quarter. UBS Group AG now owns 16,606 shares of the basic materials company’s stock valued at $728,000 after acquiring an additional 737 shares during the period. BNP Paribas Arbitrage SA increased its stake in Schnitzer Steel Industries by 3.7% in the third quarter. BNP Paribas Arbitrage SA now owns 13,614 shares of the basic materials company’s stock valued at $596,000 after acquiring an additional 480 shares during the period. Finally, Royal Bank of Canada increased its stake in Schnitzer Steel Industries by 104.9% in the second quarter. Royal Bank of Canada now owns 3,707 shares of the basic materials company’s stock valued at $182,000 after acquiring an additional 1,898 shares during the period. Institutional investors own 82.27% of the company’s stock.
Schnitzer Steel Industries Company Profile
Schnitzer Steel Industries, Inc engages in the recycling of ferrous and nonferrous scrap metal and manufacture of finished steel products. It operates through the following segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS). The Auto and Metals Recycling segment acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers and procure salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores.
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