Schnitzer Steel Industries, Inc. (SCHN) Stock Rating Reaffirmed by KeyCorp

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)‘s stock had its “hold” rating reiterated by investment analysts at KeyCorp in a research note issued on Wednesday.

Several other research firms also recently commented on SCHN. BidaskClub downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. ValuEngine cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. TheStreet upgraded shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research note on Friday, June 30th. Finally, Macquarie initiated coverage on shares of Schnitzer Steel Industries in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price objective for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Schnitzer Steel Industries has an average rating of “Hold” and a consensus price target of $27.50.

Shares of Schnitzer Steel Industries (SCHN) traded up 2.705% during trading on Wednesday, hitting $29.425. 432,048 shares of the stock were exchanged. The stock has a market cap of $812.13 million, a price-to-earnings ratio of 19.132 and a beta of 1.34. Schnitzer Steel Industries has a 12-month low of $17.50 and a 12-month high of $30.60. The stock’s 50 day moving average is $27.10 and its 200-day moving average is $23.16.

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Institutional investors have recently modified their holdings of the company. BlueCrest Capital Management Ltd acquired a new stake in shares of Schnitzer Steel Industries in the second quarter worth $228,000. GW&K Investment Management LLC acquired a new position in Schnitzer Steel Industries during the 2nd quarter valued at $246,000. Menta Capital LLC acquired a new position in Schnitzer Steel Industries during the 2nd quarter valued at $247,000. Royal Bank of Canada raised its stake in Schnitzer Steel Industries by 252.3% during the 2nd quarter. Royal Bank of Canada now owns 13,285 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 22,009 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in Schnitzer Steel Industries by 11.2% during the 2nd quarter. Voya Investment Management LLC now owns 14,205 shares of the basic materials company’s stock valued at $358,000 after purchasing an additional 1,435 shares during the last quarter. Institutional investors and hedge funds own 82.37% of the company’s stock.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc 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.

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