Schnitzer Steel Industries (NASDAQ:SCHN – Get Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.00-6.05 for the period, compared to the consensus estimate of $6.46. Schnitzer Steel Industries also updated its Q4 guidance to $0.42-0.47 EPS.
Schnitzer Steel Industries Stock Up 4.3 %
SCHN opened at $32.49 on Wednesday. The firm’s 50-day simple moving average is $33.49 and its 200-day simple moving average is $38.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 2.07. Schnitzer Steel Industries has a twelve month low of $28.29 and a twelve month high of $59.70. The firm has a market cap of $891.85 million, a price-to-earnings ratio of 4.80 and a beta of 1.52.
Institutional Investors Weigh In On Schnitzer Steel Industries
Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its holdings in Schnitzer Steel Industries by 357.0% during the 2nd quarter. Captrust Financial Advisors now owns 754 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 589 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Schnitzer Steel Industries during the 2nd quarter worth about $45,000. US Bancorp DE grew its holdings in Schnitzer Steel Industries by 53.4% during the 1st quarter. US Bancorp DE now owns 2,339 shares of the basic materials company’s stock worth $121,000 after acquiring an additional 814 shares during the last quarter. HighTower Advisors LLC bought a new stake in Schnitzer Steel Industries during the 1st quarter worth about $246,000. Finally, ExodusPoint Capital Management LP bought a new stake in Schnitzer Steel Industries during the 2nd quarter worth about $308,000. Institutional investors own 83.55% of the company’s stock.
About Schnitzer Steel Industries
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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