The stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) is a huge mover today! The stock increased 3.21% or $0.75 during the last trading session, hitting $24.15. About 513,749 shares traded hands or 39.93% up from the average. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has risen 28.15% since March 29, 2016 and is uptrending. It has outperformed by 24.67% the S&P500.
The move comes after 8 months positive chart setup for the $644.32 million company. It was reported on Oct, 31 by Barchart.com. We have $34.78 PT which if reached, will make NASDAQ:SCHN worth $283.50M more.
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. The rating was maintained by Jefferies on Wednesday, September 16 with “Buy”. The rating was downgraded by Zacks to “Buy” on Wednesday, August 12. Morgan Stanley upgraded it to “Equal-Weight” rating and $21 target price in Tuesday, November 24 report.
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 Q2 2016. Its up 0.36, from 1.05 in 2016Q1. The ratio increased, 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.
D E Shaw last reported 42,217 shares in the company. Geode Lc, a Massachusetts-based fund reported 179,559 shares. Parametric Portfolio Assoc Lc holds 0% or 137,387 shares in its portfolio. Moreover, Thomson Horstmann Bryant has 0.2% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 88,080 shares. Amer Intll has 15,028 shares for 0% of their US portfolio. Citigroup accumulated 14,713 shares or 0% of the stock. Mufg Americas Corporation last reported 816 shares in the company. Invesco, a Georgia-based fund reported 295,617 shares. Teachers Advisors Inc accumulated 0.01% or 331,650 shares. Moreover, Prudential Financial Inc has 0% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 26,628 shares. Shelton Cap Management has 0.03% invested in the company for 22,000 shares. Morgan Stanley, a New York-based fund reported 239,633 shares. State Street reported 2.19M shares or 0% of all its holdings. Northcoast Asset Mgmt Lc accumulated 25,575 shares or 0.03% of the stock. Matarin Capital Management Ltd Llc reported 359,630 shares or 0% of all its holdings.
Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 1 sale for $162,103 net activity. Dyck Jeffery sold $162,103 worth of stock.
More news for Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) were recently published by: Marketwatch.com, which released: “Schnitzer Steel Industries Inc.” 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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