Stock of The Day: What Will Happen to Schnitzer Steel Industries, Inc. Next? The Stock Just Declined A Lot

Stock of The Day: What Will Happen to Schnitzer Steel Industries, Inc. Next? The Stock Just Declined A Lot

The stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) is a huge mover today! About 379,772 shares traded hands. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has risen 40.98% since April 14, 2016 and is uptrending. It has outperformed by 36.29% the S&P500.
The move comes after 9 months negative chart setup for the $724.85M company. It was reported on Nov, 16 by Barchart.com. We have $24.91 PT which if reached, will make NASDAQ:SCHN worth $57.99 million less.

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. Zacks downgraded Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) on Wednesday, August 12 to “Buy” rating. The stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) earned “Equal-Weight” rating by Morgan Stanley on Tuesday, November 24. The company was maintained 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 Q2 2016. 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.
Natl Bank Of America De, a North Carolina-based fund reported 56,887 shares. Cornerstone Cap Management Llc has 129,700 shares for 0.02% of their US portfolio. Credit Suisse Ag holds 0% or 36,024 shares in its portfolio. Aperio Gru Lc holds 0.01% or 55,329 shares in its portfolio. Nationwide Fund last reported 0.01% of its portfolio in the stock. Shufro Rose & Ltd Liability Com holds 0.66% or 341,650 shares in its portfolio. Aqr Lc accumulated 40,630 shares or 0% of the stock. The New York-based Lucus Advisors Ltd Limited Liability Company has invested 0.31% in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Systematic Fincl Mgmt Lp, a New Jersey-based fund reported 105,995 shares. Fny Managed Accounts Ltd Co has 4,500 shares for 0% of their US portfolio. Legal General Public reported 11,309 shares or 0% of all its holdings. Van Eck Assocs Corporation accumulated 0.01% or 58,717 shares. Barclays Public Ltd has 222 shares for 0% of their US portfolio. Victory Capital Mgmt reported 46,985 shares or 0% of all its holdings. New York State Teachers Retirement Systems, a New York-based fund reported 2,300 shares.

Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 6 selling transactions for $395,374 net activity. Heiskell Steven had sold 1,200 shares worth $28,332 on Monday, October 31. Henderson Michael R also sold $74,431 worth of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) shares. 4,000 shares were sold by Peach Richard, worth $96,280 on Monday, October 31. Shares for $17,462 were sold by Gaggini Stefano R. on Monday, October 31. $162,103 worth of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was sold by Dyck Jeffery on Tuesday, July 5. 686 shares were sold by Saba Peter B, worth $16,766 on Friday, November 4.

More news for Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) were recently published by: Quotes.Wsj.com, which released: “News Schnitzer Steel Industries Inc.SCHN” on February 11, 2011. Thestreet.com‘s article titled: “Commit To Buy Schnitzer Steel Industries At $19, Earn 11.2% Annualized Using …” and published on November 03, 2016 is yet another important article.

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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