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Schnitzer Steel Industries (NASDAQ:SCHN - Get Rating) issued its quarterly earnings results on Wednesday. The basic materials company reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.29, Briefing.com reports. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $903.48 million. Schnitzer Steel Industries had a return on equity of 24.20% and a net margin of 5.86%. The firm's revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 EPS.

NASDAQ:SCHN opened at $34.07 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $941.46 million, a price-to-earnings ratio of 5.32 and a beta of 1.49. The firm's fifty day simple moving average is $40.37 and its 200 day simple moving average is $44.74. Schnitzer Steel Industries has a twelve month low of $32.16 and a twelve month high of $59.70.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Monday, July 11th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.20%. Schnitzer Steel Industries's dividend payout ratio (DPR) is currently 11.72%.

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In other news, SVP Peter B. Saba sold 1,178 shares of the business's stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $44.46, for a total value of $52,373.88. Following the completion of the sale, the senior vice president now owns 63,261 shares of the company's stock, valued at approximately $2,812,584.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.20% of the company's stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCHN. Bank of America Corp DE grew its position in Schnitzer Steel Industries by 50.6% in the first quarter. Bank of America Corp DE now owns 39,894 shares of the basic materials company's stock worth $2,072,000 after acquiring an additional 13,400 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Schnitzer Steel Industries during the 1st quarter worth about $720,000. Brinker Capital Investments LLC increased its position in shares of Schnitzer Steel Industries by 1.6% during the 1st quarter. Brinker Capital Investments LLC now owns 19,665 shares of the basic materials company's stock worth $1,021,000 after purchasing an additional 311 shares in the last quarter. State Street Corp grew its holdings in Schnitzer Steel Industries by 36.2% during the 1st quarter. State Street Corp now owns 1,521,234 shares of the basic materials company's stock worth $79,013,000 after acquiring an additional 404,669 shares during the last quarter. Finally, UBS Group AG grew its holdings in Schnitzer Steel Industries by 13.4% during the 1st quarter. UBS Group AG now owns 33,806 shares of the basic materials company's stock worth $1,756,000 after acquiring an additional 4,004 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company's stock.

Several research analysts have recently weighed in on SCHN shares. StockNews.com cut Schnitzer Steel Industries from a "buy" rating to a "hold" rating in a report on Friday, May 27th. The Goldman Sachs Group dropped their target price on Schnitzer Steel Industries from $63.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday, May 31st. Finally, KeyCorp upped their price objective on shares of Schnitzer Steel Industries from $59.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday, April 20th.

About Schnitzer Steel Industries (Get Rating)

Schnitzer Steel Industries, Inc 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. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.

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