Price Action to Note: Schnitzer Steel Industries, Inc. Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

Price Action to Note: Schnitzer Steel Industries, Inc. Can't Burn Your Long Portfolio. Just Reaches 52 Week High

The stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) hit a new 52-week high and has $29.25 target or 37.00% above today’s $21.35 share price. The 8 months bullish chart indicates low risk for the $570.47M company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $29.25 price target is reached, the company will be worth $211.07 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 148,355 shares traded hands. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has risen 24.93% since March 14, 2016 and is uptrending. It has outperformed by 19.31% the S&P500.

Analysts await Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) to report earnings on October, 25. They expect $0.28 EPS, down 9.68% or $0.03 from last year’s $0.31 per share. SCHN’s profit will be $7.48 million for 19.06 P/E if the $0.28 EPS becomes a reality. After $0.46 actual EPS reported by Schnitzer Steel Industries, Inc. for the previous quarter, Wall Street now forecasts -39.13% negative EPS growth.

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Ratings Coverage

Out of 2 analysts covering Schnitzer Steel Industries (NASDAQ:SCHN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Schnitzer Steel Industries has been the topic of 3 analyst reports since August 12, 2015 according to StockzIntelligence Inc. As per Tuesday, November 24, the company rating was upgraded by Morgan Stanley. The firm has “Buy” rating given on Wednesday, August 12 by Zacks. The stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has “Buy” rating given on Wednesday, September 16 by Jefferies.

According to Zacks Investment Research, “Schnitzer Steel Industries, Inc. collects, processes and recycles metals by operating one of the largest metals recycling businesses in the United States. They also manufacture finished steel products at their technologically advanced steel mini-mill.”

Insitutional Activity: The institutional sentiment increased to 1.41 in 2016 Q2. Its up 0.36, from 1.05 in 2016Q1. The ratio is positive, as 14 funds sold all Schnitzer Steel Industries, Inc. shares owned while 42 reduced positions. 30 funds bought stakes while 49 increased positions. They now own 23.68 million shares or 0.54% more from 23.56 million shares in 2016Q1.
Teacher Retirement Sys Of Texas has invested 0% of its portfolio in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Blackrock reported 10,381 shares or 0% of all its holdings. Rutabaga Cap Mngmt Lc Ma has 3.41% invested in the company for 1.04 million shares. State Street last reported 0% of its portfolio in the stock. The California-based Los Angeles Capital And Equity Research Incorporated has invested 0.01% in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Qs Investors Ltd Liability Com last reported 6,415 shares in the company. Shelton Cap Management accumulated 0.03% or 22,000 shares. Moreover, Shufro Rose And Limited Com has 0.66% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 341,650 shares. Hrt Fin Limited Liability Co has 0.12% invested in the company for 11,325 shares. Deutsche Bank Ag has invested 0% of its portfolio in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Tower Research Cap Limited Liability (Trc) holds 0.02% of its portfolio in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 10,933 shares. Quantitative Systematic Strategies Limited Liability Co owns 10,384 shares or 0.08% of their US portfolio. Federated Investors Pa has invested 0% of its portfolio in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Walleye Trading Limited Liability reported 1,084 shares or 0% of all its holdings. Hbk Limited Partnership has 0% invested in the company for 23,100 shares.

Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 1 insider sale for $162,103 net activity. Dyck Jeffery sold 9,205 shares worth $162,103.

More news for Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) were recently published by: Marketwatch.com, which released: “Schnitzer Steel shares halted at $19.41, larger loss expected” on June 30, 2009. Quotes.Wsj.com‘s article titled: “News Schnitzer Steel Industries Inc.SCHN” and published on February 11, 2011 is yet another important article.

SCHN Company Profile

Schnitzer Steel Industries, Inc. (SSI), incorporated on July 30, 1946, is a recycler of ferrous and nonferrous scrap metal. The Firm is recycler of used and salvaged vehicles and a maker of finished steel products. The Firm operates in three business divisions: the Metals Recycling Business (MRB), the Auto Parts Business (APB) and the Steel Manufacturing Business (SMB).

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