Schnitzer Steel Industries (NASDAQ:RDUS) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Schnitzer Steel Industries (NASDAQ:RDUS) in a note issued to investors on Monday. The firm set a “hold” rating on the basic materials company’s stock.

Separately, TheStreet raised Schnitzer Steel Industries from a “c+” rating to a “b-” rating in a report on Thursday, May 18th.

Schnitzer Steel Industries Trading Down 1.8 %

NASDAQ:RDUS traded down $0.50 during mid-day trading on Monday, reaching $27.94. 104,723 shares of the company’s stock traded hands, compared to its average volume of 212,772. Schnitzer Steel Industries has a 12-month low of $25.96 and a 12-month high of $36.64. The firm has a market capitalization of $768.66 million, a price-to-earnings ratio of 82.35 and a beta of 1.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.05. The company has a 50 day moving average price of $31.85 and a 200-day moving average price of $31.09.

Schnitzer Steel Industries (NASDAQ:RDUS) last announced its quarterly earnings results on Tuesday, June 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. Schnitzer Steel Industries had a return on equity of 2.69% and a net margin of 0.34%. The company had revenue of $810.00 million for the quarter, compared to the consensus estimate of $823.95 million. During the same quarter in the previous year, the business earned $2.59 EPS. Schnitzer Steel Industries’s revenue was down 19.8% compared to the same quarter last year. On average, sell-side analysts predict that Schnitzer Steel Industries will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Schnitzer Steel Industries

A number of institutional investors have recently bought and sold shares of RDUS. BlackRock Inc. grew its position in shares of Schnitzer Steel Industries by 19.5% during the first quarter. BlackRock Inc. now owns 3,216,557 shares of the basic materials company’s stock valued at $100,035,000 after purchasing an additional 524,126 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Schnitzer Steel Industries by 1.6% during the third quarter. Vanguard Group Inc. now owns 2,722,756 shares of the basic materials company’s stock valued at $77,489,000 after purchasing an additional 43,304 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Schnitzer Steel Industries by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,283,655 shares of the basic materials company’s stock valued at $71,021,000 after purchasing an additional 82,346 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Schnitzer Steel Industries by 18.0% during the first quarter. Ameriprise Financial Inc. now owns 1,545,045 shares of the basic materials company’s stock valued at $48,051,000 after purchasing an additional 235,600 shares in the last quarter. Finally, State Street Corp grew its position in shares of Schnitzer Steel Industries by 36.2% during the first quarter. State Street Corp now owns 1,521,234 shares of the basic materials company’s stock valued at $79,013,000 after purchasing an additional 404,669 shares in the last quarter. Hedge funds and other institutional investors own 81.97% of the company’s stock.

About Schnitzer Steel Industries

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.