The stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) hit a new 52-week high and has $40.46 target or 52.00% above today’s $26.62 share price. The 9 months bullish chart indicates low risk for the $723.60 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $40.46 price target is reached, the company will be worth $376.27M 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 327,628 shares traded hands. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has risen 44.69% since April 7, 2016 and is uptrending. It has outperformed by 39.91% the S&P500.
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 stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) earned “Equal-Weight” rating by Morgan Stanley on Tuesday, November 24. The firm has “Buy” rating given on Wednesday, September 16 by Jefferies. The stock has “Buy” rating given by Zacks on Wednesday, August 12.
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.
Retail Bank Of America Corporation De holds 0% of its portfolio in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 56,887 shares. Alpha Windward Limited Liability accumulated 25,440 shares or 0.32% of the stock. Panagora Asset Mgmt Inc accumulated 0.02% or 279,777 shares. The Netherlands-based Robeco Institutional Asset Bv has invested 0.01% in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Invesco has 0% invested in the company for 295,617 shares. Teachers Advsr owns 331,650 shares or 0.01% of their US portfolio. Susquehanna Interest Grp Llp holds 0% or 77,793 shares in its portfolio. Moreover, Dynamic Cap Mngmt Ltd has 0.02% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 11,963 shares. Nationwide Fund Advsr accumulated 76,311 shares or 0.01% of the stock. Tiaa Cref Inv Management Llc accumulated 143,097 shares or 0% of the stock. Comml Bank Of Montreal Can, a Ontario – Canada-based fund reported 6,094 shares. Walleye Trading Ltd Co has 1,084 shares for 0% of their US portfolio. Vanguard Grp last reported 2.37 million shares in the company. Tfs Capital Ltd Liability accumulated 0.14% or 44,572 shares. Aperio Limited Liability Corp has 0.01% invested in the company for 55,329 shares.
Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 6 insider sales for $395,374 net activity. On Monday, October 31 Henderson Michael R sold $74,431 worth of the stock or 3,100 shares. Another trade for 9,205 shares valued at $162,103 was made by Dyck Jeffery on Tuesday, July 5. Shares for $17,462 were sold by Gaggini Stefano R.. Saba Peter B had sold 686 shares worth $16,766. $28,332 worth of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) shares were sold by Heiskell Steven. Another trade for 4,000 shares valued at $96,280 was sold by Peach Richard.
Another recent and important Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) news was published by Nasdaq.com which published an article titled: “Schnitzer Steel Industries, Inc. (SCHN) Ex-Dividend Date Scheduled for …” on November 02, 2016.
SCHN Company Profile
Schnitzer Steel Industries, Inc., incorporated on July 30, 1946, is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a maker of finished steel products. The Firm operates through two divisions: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure. The SMB segment produces finished steel products, such as rebar, wire rod, coiled rebar, merchant bar and other specialty products using recycled metal sourced from AMR.
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