Alambic Investment Management L.P. Has $493,000 Stake in Schnitzer Steel Industries (SCHN)

Alambic Investment Management L.P. lifted its position in Schnitzer Steel Industries (NASDAQ:SCHN) by 33.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,227 shares of the basic materials company’s stock after purchasing an additional 3,800 shares during the period. Alambic Investment Management L.P. owned about 0.06% of Schnitzer Steel Industries worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in shares of Schnitzer Steel Industries by 4.2% in the fourth quarter. California Public Employees Retirement System now owns 92,350 shares of the basic materials company’s stock worth $3,094,000 after purchasing an additional 3,685 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Schnitzer Steel Industries by 9.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 443,492 shares of the basic materials company’s stock valued at $14,857,000 after acquiring an additional 39,216 shares in the last quarter. LSV Asset Management purchased a new position in Schnitzer Steel Industries during the fourth quarter valued at $1,614,000. Investors Research Corp purchased a new position in Schnitzer Steel Industries during the fourth quarter valued at $446,000. Finally, Bailard Inc. purchased a new position in Schnitzer Steel Industries during the fourth quarter valued at $1,665,000. 89.86% of the stock is owned by hedge funds and other institutional investors.

Schnitzer Steel Industries opened at $31.70 on Wednesday, according to Marketbeat.com. The firm has a market cap of $855.19 million, a P/E ratio of 20.72 and a beta of 1.45. Schnitzer Steel Industries has a fifty-two week low of $18.65 and a fifty-two week high of $38.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.25.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its earnings results on Thursday, April 5th. The basic materials company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.51. Schnitzer Steel Industries had a net margin of 4.68% and a return on equity of 14.28%. The company had revenue of $559.00 million during the quarter, compared to analysts’ expectations of $507.82 million. During the same period last year, the company posted $0.37 earnings per share. Schnitzer Steel Industries’s quarterly revenue was up 46.3% on a year-over-year basis. research analysts predict that Schnitzer Steel Industries will post 3.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Monday, May 14th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, May 11th. This represents a $0.75 annualized dividend and a yield of 2.37%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is currently 49.02%.

SCHN has been the subject of several research analyst reports. Goldman Sachs initiated coverage on shares of Schnitzer Steel Industries in a research note on Tuesday, March 20th. They set a “buy” rating and a $42.00 target price for the company. BidaskClub cut shares of Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 16th. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, April 5th. Finally, ValuEngine cut shares of Schnitzer Steel Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $33.25.

Schnitzer Steel Industries Company Profile

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.

Institutional Ownership by Quarter for Schnitzer Steel Industries (NASDAQ:SCHN)

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