Schnitzer Steel Industries Inc. (NASDAQ:SCHN)‘s stock had its “hold” rating reaffirmed by equities research analysts at DA Davidson in a research note issued on Tuesday.
Separately, Zacks Investment Research cut shares of Schnitzer Steel Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 16th.
Schnitzer Steel Industries (NASDAQ:SCHN) traded up 0.5746% during trading on Tuesday, hitting $21.0201. 122,629 shares of the stock traded hands. The company’s 50 day moving average is $19.13 and its 200 day moving average is $18.42. The company’s market capitalization is $573.01 million. Schnitzer Steel Industries has a one year low of $11.70 and a one year high of $21.59.
A number of institutional investors have recently made changes to their positions in SCHN. Norges Bank acquired a new position in shares of Schnitzer Steel Industries during the fourth quarter worth about $7,882,000. Prudential Financial Inc. purchased a new stake in Schnitzer Steel Industries during the first quarter valued at $378,000. Franklin Resources Inc. raised its stake in Schnitzer Steel Industries by 44.6% in the first quarter. Franklin Resources Inc. now owns 105,000 shares of the company’s stock valued at $1,936,000 after buying an additional 32,400 shares during the period. Shufro Rose & Co. LLC raised its stake in Schnitzer Steel Industries by 23.7% in the first quarter. Shufro Rose & Co. LLC now owns 377,360 shares of the company’s stock valued at $6,959,000 after buying an additional 72,285 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in Schnitzer Steel Industries during the first quarter valued at $603,000. 92.43% of the stock is currently owned by hedge funds and other institutional investors.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc (SSI) is a recycler of ferrous and nonferrous scrap metal. The Company is recycler of used and salvaged vehicles and a manufacturer of finished steel products. The Company operates in three business segments: the Metals Recycling Business (MRB), the Auto Parts Business (APB) and the Steel Manufacturing Business (SMB).
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