Mackenzie Financial Corp boosted its position in Schnitzer Steel Industries, Inc. (NASDAQ:RDUS – Free Report) by 17.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,764 shares of the basic materials company’s stock after buying an additional 1,320 shares during the period. Mackenzie Financial Corp’s holdings in Schnitzer Steel Industries were worth $263,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in Schnitzer Steel Industries by 22.0% in the first quarter. JPMorgan Chase & Co. now owns 291,675 shares of the basic materials company’s stock worth $15,150,000 after acquiring an additional 52,677 shares in the last quarter. US Bancorp DE raised its stake in Schnitzer Steel Industries by 53.4% in the 1st quarter. US Bancorp DE now owns 2,339 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 814 shares during the period. HighTower Advisors LLC bought a new position in Schnitzer Steel Industries in the 1st quarter worth approximately $246,000. MetLife Investment Management LLC lifted its position in shares of Schnitzer Steel Industries by 60.6% during the first quarter. MetLife Investment Management LLC now owns 14,061 shares of the basic materials company’s stock worth $730,000 after acquiring an additional 5,304 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new position in shares of Schnitzer Steel Industries in the first quarter valued at $1,989,000. 81.97% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. StockNews.com began coverage on shares of Schnitzer Steel Industries in a research note on Thursday, October 5th. They set a “hold” rating for the company. TheStreet lowered shares of Schnitzer Steel Industries from a “b-” rating to a “c-” rating in a research report on Wednesday, October 25th.
Insider Buying and Selling at Schnitzer Steel Industries
In other news, CFO Stefano R. Gaggini sold 7,269 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $24.86, for a total value of $180,707.34. Following the completion of the sale, the chief financial officer now directly owns 63,295 shares in the company, valued at approximately $1,573,513.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.10% of the company’s stock.
Schnitzer Steel Industries Stock Down 0.4 %
RDUS stock opened at $23.96 on Thursday. The company’s 50 day moving average is $27.20 and its 200 day moving average is $29.53. The stock has a market cap of $659.14 million, a price-to-earnings ratio of -25.49 and a beta of 1.70. The company has a current ratio of 1.70, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27. Schnitzer Steel Industries, Inc. has a 1-year low of $22.34 and a 1-year high of $36.64.
Schnitzer Steel Industries (NASDAQ:RDUS – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. Schnitzer Steel Industries had a negative net margin of 0.89% and a positive return on equity of 2.60%. The firm had revenue of $718.00 million for the quarter. During the same quarter last year, the business posted $0.50 EPS. The business’s quarterly revenue was down 19.7% compared to the same quarter last year.
Schnitzer Steel Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be given a $0.1875 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.75 dividend on an annualized basis and a yield of 3.13%. Schnitzer Steel Industries’s payout ratio is -79.79%.
Schnitzer Steel Industries Profile
Schnitzer Steel Industries, Inc, doing business as Radius Recycling, recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap.
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