Victory Capital Management Inc. Buys 18,774 Shares of Schnitzer Steel Industries, Inc. (NASDAQ:RDUS)

Posted by on Oct 28th, 2023

Victory Capital Management Inc. increased its stake in Schnitzer Steel Industries, Inc. (NASDAQ:RDUS – Free Report) by 42.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,248 shares of the basic materials company’s stock after buying an additional 18,774 shares during the quarter. Victory Capital Management Inc. owned about 0.23% of Schnitzer Steel Industries worth $1,897,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors lifted its position in Schnitzer Steel Industries by 357.0% in the second quarter. Captrust Financial Advisors now owns 754 shares of the basic materials company’s stock worth $25,000 after buying an additional 589 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Schnitzer Steel Industries by 123.4% in the first quarter. Tower Research Capital LLC TRC now owns 849 shares of the basic materials company’s stock worth $26,000 after buying an additional 469 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Schnitzer Steel Industries during the second quarter worth $45,000. Citigroup Inc. lifted its position in shares of Schnitzer Steel Industries by 120.0% during the first quarter. Citigroup Inc. now owns 1,883 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 1,027 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Schnitzer Steel Industries during the first quarter worth $72,000. 81.97% of the stock is currently owned by institutional investors.

Schnitzer Steel Industries Stock Performance

Shares of Schnitzer Steel Industries stock opened at $24.43 on Friday. The firm has a market cap of $672.07 million, a P/E ratio of -25.99 and a beta of 1.62. The company has a current ratio of 1.93, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. Schnitzer Steel Industries, Inc. has a 12 month low of $23.48 and a 12 month high of $36.64. The stock’s fifty day moving average price is $28.48 and its 200-day moving average price is $29.89.

Schnitzer Steel Industries (NASDAQ:RDUS – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. Schnitzer Steel Industries had a positive return on equity of 2.58% and a negative net margin of 0.89%. The firm had revenue of $718.00 million for the quarter. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s quarterly revenue was down 19.7% on a year-over-year basis. On average, equities research analysts expect that Schnitzer Steel Industries, Inc. will post 1.5 earnings per share for the current fiscal year.

Schnitzer Steel Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be paid a $0.1875 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.75 annualized dividend and a yield of 3.07%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently -79.79%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com assumed coverage on Schnitzer Steel Industries in a research report on Thursday, October 5th. They set a “hold” rating for the company. TheStreet downgraded Schnitzer Steel Industries from a “b-” rating to a “c-” rating in a research report on Wednesday.

Check Out Our Latest Stock Report on RDUS

Schnitzer Steel Industries Profile

(Free Report)

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.

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

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