It is trading at $29.80 which is just a bit higher than $27.75, the stock’s 50 day moving average and which is impressively higher than the 200 day moving average of $23.69. The 50 day moving average was up $2.05 or +7.38% and the 200 day average went up $6.11 or +25.77%. Schnitzer Steel Industries, Inc shares had a trading volume of 289K by the end of trading on Tuesday. Volume was down 19.81% under the stocks average daily volume.
Investors are feeling more bullish on Schnitzer Steel Industries, Inc if you consider the fall in short interest. The firm had a fall in short interest of -8.79% as of the latest report on September 29, 2017. Short shares decreased 222,313 over that period. Days to cover decreased -1.0 to 6.0 and the percentage of shorted shares was 0.08% on September 29.
A few notable investment firms have updated their holdings. As of the end of the quarter Gw&k Investment Management, LLC had bought 250 shares growing its holdings by 2.6%. The value of the total investment in Schnitzer Steel Industries, Inc increased from $246,000 to $282,000 a change of $36,000 quarter over quarter. As of quarter end Cutler Group LP had acquired a total of 57 shares growing its stake by 5.0%. The value of the investment in Schnitzer Steel Industries, Inc went from $28,000 to $33,000 increasing 17.9% for the reporting period.
Advisory Services Network, LLC downsized its ownership by shedding 2,514 shares a decrease of 96.2% in the quarter. Advisory Services Network, LLC currently owns 100 shares valued at $3,000. The total value of its holdings decreased 94.4%. Bank Of Montreal /can/ divested its investment by selling 756 shares a decrease of 17.2% as of 09/30/2017. Bank Of Montreal /can/ owns 3,649 shares worth $103,000. The value of the position overall is down by 7.2%.
On September 7, 2017 Macquarie starting coverage on the stock by announcing an initial rating of “Neutral”.
The company is down from yesterday’s close of 30.05. The company also recently announced a dividend paid on Monday the 21st of August 2017. The dividend was $0.188 per share for the quarter which is $0.75 annualized. This dividend amount represented a yield of $2.56. The ex-dividend date was Thursday the 3rd of August 2017.
The most current P/E ratio is 19.38 and market cap is 822.48M. As of the last earnings report the EPS was $1.54 and is estimated to be $1.48 for the current year with 27,600,000 shares now outstanding. Analysts expect next quarter’s EPS will be $0.54 with next year’s EPS projected to be $1.62.
Schnitzer Steel Industries, Inc., launched on July 30, 1946, is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: 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..