The Vanguard Group, Inc. has recently announced that it has increased stake in Schnitzer Steel Industries Inc. (NASDAQ:SCHN) by 2.43%. After grabbing 2.72 million shares, the institutional investor is now in possession of 64609.0 shares of the Basic Materials Company. The new investment brought the stake of investor firm to 10.19% having worth around $83.51 million. Moreover, Dimensional Fund Advisors LP increased its share by 30259.0 to have a control over 2.13 million shares. And Fidelity Management & Research Co raised its holdings to 323.0 shares by acquiring 1.4 million shares or 5.24% of the stake.
Schnitzer Steel Industries Inc. (SCHN) concluded trading on 01/18/23 at a closing price of $33.84, with 0.25 million shares of worth about $8.56 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -1.97% during that period and on Wednesday the price saw a gain of about 1.84%. Currently the company’s common shares owned by public are about 27.72M shares, out of which, 25.02M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the SCHN stock and their offered price forecasts bring an average price target of $36.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $36.00 and could fall to a lowest price of $36.00. The stock’s current price level is 6.0% above of average price target set by the analysts, while a rise to estimated low would result in gain of 6.0% for the stock. However, touching the estimated high of $36.00 would mean a gain of 6.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 77 times over the past 12 months. They bought 395,045 shares in 51 of the transactions. In 26 selling transactions, insiders dumped 207,686 shares.
Fidelity Global Innovators Invest, Fidelity Global Innovators Class, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Schnitzer Steel Industries Inc. Fidelity Global Innovators Invest is currently holding 1.35 million shares of worth totaling $41.49 million. The company recently came buying 0.0 shares which brought its stake up to 5.06% of the company’s outstanding shares. Fidelity Global Innovators Class bought 1660.0 shares, after which its hold over company’s outstanding shares expand to 3.68%, leaving 0.98 million shares with the mutual fund that have a worth of about $30.19 million. Vanguard Total Stock Market Index, after buying 0.77 million shares, have now control over 2.87% of the stake in the company. It holds 0.0 shares of worth $23.49 million.
Schnitzer Steel Industries Inc. (NASDAQ: SCHN) started trading at $33.71, above $0.48 from concluding price of the previous day. However, the stock later moved at a day high price of 35.16, or with a gain of 1.84%. Stock saw a price change of 0.30% in past 5 days and over the past one month there was a price change of 4.90%. Year-to-date (YTD), SCHN shares are showing a performance of 10.41% which decreased to -20.81% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $25.96 but also hit the highest price of $59.70 during that period. The average intraday trading volume for Schnitzer Steel Industries Inc. shares is 209.59K. The stock is currently trading 5.54% above its 20-day simple moving average (SMA20), while that difference is up 5.45% for SMA50 and it goes to -4.84% lower than SMA200.
The Vanguard Group, Inc. acquired 2.72 million shares of Schnitzer Steel Industries Inc. having value of about $83.51 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 64609.0 shares in the company valued at close to $2186368.56, or have control over 2.43% stake in the company. Schnitzer Steel Industries Inc. (NASDAQ: SCHN) currently have 27.72M outstanding shares and institutions hold larger chunk of about 88.60% of that. Holding of mutual funds in the company is about 25.28% while other institutional holders and individual stake holders have control over 62.11% and 15.54% of the stake respectively.
The stock has a current market capitalization of $928.57M and its 3Y-monthly beta is at 1.54. PE ratio of stock for trailing 12 months is 9.65, while it has posted earnings per share of $3.51 in the same period. Its PEG reads 0.97 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 0.39. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SCHN, volatility over the week remained 3.70% while standing at 4.30% over the month.
Analysts are in expectations that Schnitzer Steel Industries Inc. (SCHN) stock would likely to be making an EPS of -$0.2 in the current quarter, while forecast for next quarter EPS is $0.48 and it is $2.97 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.27 which is -$0.14 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.10% while it is estimated to increase by 146.67% in next year. EPS is likely to shrink at an annualized rate of 10.00% for next 5-years, compared to annual growth of 29.10% made by the stock over the past 5-years.
Analysts at 2 brokerage firms have issued recommendations for the Schnitzer Steel Industries Inc. (SCHN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Coverage by KeyBanc Capital Markets stated Schnitzer Steel Industries Inc. (SCHN) stock as an Overweight in their note to investors on March 24, 2022, suggesting a price target of $58 for the stock. On July 19, 2021, Northland Capital Initiated their recommendations, while on April 09, 2021, Goldman Initiated their ratings for the stock with a price target of $48. Stock get a Sector weight rating from KeyBanc Capital Markets on January 12, 2021.
