Price Action Report: Schnitzer Steel Industries, Inc. Hit 52-Week High

Price Action Report: Schnitzer Steel Industries, Inc. Hit 52 Week High

The stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) hit a new 52-week high and has $30.21 target or 4.00% above today’s $29.05 share price. The 7 months bullish chart indicates low risk for the $802.86M company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $30.21 price target is reached, the company will be worth $32.11 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 347,086 shares traded hands. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has risen 35.59% since April 20, 2016 and is uptrending. It has outperformed by 31.03% the S&P500.

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Ratings Coverage

Out of 2 analysts covering Schnitzer Steel Industries (NASDAQ:SCHN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Schnitzer Steel Industries has been the topic of 3 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) earned “Buy” rating by Jefferies on Wednesday, September 16. Zacks downgraded the stock to “Buy” rating in Wednesday, August 12 report. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, November 24.

According to Zacks Investment Research, “Schnitzer Steel Industries, Inc. collects, processes and recycles metals by operating one of the largest metals recycling businesses in the United States. They also manufacture finished steel products at their technologically advanced steel mini-mill.”

Insitutional Activity: The institutional sentiment decreased to 1.05 in Q2 2016. Its down 0.36, from 1.41 in 2016Q1. The ratio dropped, as 14 funds sold all Schnitzer Steel Industries, Inc. shares owned while 42 reduced positions. 30 funds bought stakes while 49 increased positions. They now own 23.68 million shares or 0.54% more from 23.56 million shares in 2016Q1.
Northern owns 474,515 shares or 0% of their US portfolio. Qs Investors Ltd Limited Liability Company accumulated 0% or 6,415 shares. Hanson And Doremus owns 4,915 shares or 0.04% of their US portfolio. Heartland Advisors reported 400,000 shares or 0.4% of all its holdings. Amer Century holds 0% or 43,274 shares in its portfolio. Panagora Asset, a Massachusetts-based fund reported 279,777 shares. Fny Managed Accounts Ltd Liability Co owns 4,500 shares or 0% of their US portfolio. Ny State Common Retirement Fund reported 62,636 shares or 0% of all its holdings. The Pennsylvania-based Tfs Llc has invested 0.14% in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Mutual Of America Capital Mgmt Ltd Limited Liability Company has 40,629 shares for 0.02% of their US portfolio. Alpha Windward Limited Com, a Massachusetts-based fund reported 25,440 shares. Art Advsrs Ltd, a New York-based fund reported 42,619 shares. Moreover, Schroder Mgmt Group Incorporated has 0% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 28,580 shares. Axa has 0% invested in the company for 7,000 shares. American Interest Grp Incorporated has invested 0% of its portfolio in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN).

Insider Transactions: Since July 5, 2016, the stock had 0 insider buys, and 6 sales for $395,374 net activity. $96,280 worth of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was sold by Peach Richard on Monday, October 31. $17,462 worth of shares were sold by Gaggini Stefano R. on Monday, October 31. Heiskell Steven sold 1,200 shares worth $28,332. Dyck Jeffery had sold 9,205 shares worth $162,103 on Tuesday, July 5. On Monday, October 31 the insider Henderson Michael R sold $74,431. Saba Peter B sold $16,766 worth of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) on Friday, November 4.

More important recent Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) news were published by: Marketwatch.com which released: “Schnitzer Steel shares halted at $19.41, larger loss expected” on June 30, 2009, also Quotes.Wsj.com published article titled: “News Schnitzer Steel Industries Inc.SCHN”, Thestreet.com published: “Commit To Buy Schnitzer Steel Industries At $19, Earn 11.2% Annualized Using …” on November 03, 2016. More interesting news about Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was released by: Fool.com and their article: “Why Starz, Schnitzer Steel Industries, and Shutterstock Jumped Today” with publication date: June 30, 2016.

SCHN Company Profile

Schnitzer Steel Industries, Inc., incorporated on July 30, 1946, is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a maker of finished steel products. The Firm operates through two divisions: 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. The SMB segment produces finished steel products, such as rebar, wire rod, coiled rebar, merchant bar and other specialty products using recycled metal sourced from AMR.

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