Schnitzer Steel Industries (NASDAQ:SCHN – Get Note) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other equity research analysts also weighed in on SCHN. Zacks Investment Research downgraded shares of Schnitzer Steel Industries from a “strong buy” rating to a “hold” rating in a report released Wednesday. KeyCorp raised its price target on Schnitzer Steel Industries shares from $59.00 to $62.00 and gave the company an “overweight” rating in a Wednesday, April 20 research note.

Shares of NASDAQ SCHN opened at $40.01 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.02 and a debt ratio of 0.28. Schnitzer Steel Industries has a 1-year low of $34.37 and a 1-year high of $59.70. The company has a market capitalization of $1.11 billion, a P/E ratio of 6.25 and a beta of 1.48. The company’s 50-day moving average price is $46.97 and its 200-day moving average price is $47.02.

Schnitzer Steel Industries (NASDAQ:SCHN – Get Rating) last reported results on Wednesday, April 6. The basic materials company reported earnings per share of $1.38 for the quarter, meeting analyst consensus estimates of $1.38. Schnitzer Steel Industries posted a net margin of 5.86% and a return on equity of 24.20%. The company posted revenue of $783.20 million for the quarter, versus analyst estimates of $779.39 million. In the same quarter a year earlier, the company posted EPS of $1.51. The company’s revenue increased by 30.5% compared to the same quarter last year. Equity research analysts expect Schnitzer Steel Industries to post EPS of 7.53 for the current year.

Separately, SVP Peter B. Saba sold 1,178 shares in a trade that took place on Wednesday, May 4. The shares were sold at an average price of $44.46, for a total transaction of $52,373.88. Following completion of the transaction, the senior vice president now directly owns 63,261 shares of the company, valued at approximately $2,812,584.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. 6.20% of the shares are held by insiders.

Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. American Century Companies Inc. increased its stake in Schnitzer Steel Industries by 15.2% in the third quarter. American Century Companies Inc. now owns 75,450 shares of the basic materials company worth $3,305,000 after purchasing an additional 9,950 shares during the period. Sprott Inc. increased its holdings in Schnitzer Steel Industries by 7.7% in the fourth quarter. Sprott Inc. now owns 140,000 shares of the basic materials company valued at $7,269,000 after purchasing an additional 10,000 shares during the period. Koshinski Asset Management Inc. bought a new position in Schnitzer Steel Industries in Q4 worth $37,000. Pendal Group Ltd increased its stake in Schnitzer Steel Industries by 306.9% in the 4th quarter. Pendal Group Ltd now owns 19,741 shares in the basic materials company valued at $1,025,000 after buying an additional 14,890 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Schnitzer Steel Industries by 680.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 105,300 shares of the basic materials company valued at $5,491,000 after purchasing an additional 91,800 shares during the period. 83.90% of the shares are held by institutional investors.

Schnitzer Steel Industries Company Profile (Get an evaluation)

Schnitzer Steel Industries, Inc recycles ferrous and non-ferrous metals and manufactures finished steel products worldwide. The company acquires, processes and recycles salvaged vehicles, rail cars, household appliances, industrial machinery, manufacturing waste and construction and demolition waste. It offers recycled ferrous metal, a raw material used in the production of finished steel products; and non-ferrous products, including mixed metal gasket products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead and high temperature alloys.

Further reading

Get news and reviews for Schnitzer Steel Industries Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Schnitzer Steel Industries and related companies with MarketBeat.com’s free daily email newsletter.