Cable Hill Partners LLC lowered its position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 80.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,819 shares of the basic materials company’s stock after selling 33,000 shares during the quarter. Cable Hill Partners LLC’s holdings in Schnitzer Steel Industries were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHN. Marshall Wace LLP purchased a new stake in Schnitzer Steel Industries in the first quarter valued at approximately $71,000. FMR LLC lifted its stake in Schnitzer Steel Industries by 274,901.9% in the first quarter. FMR LLC now owns 143,001 shares of the basic materials company’s stock valued at $3,432,000 after buying an additional 142,949 shares during the last quarter. BlackRock Inc. lifted its stake in Schnitzer Steel Industries by 15.0% in the first quarter. BlackRock Inc. now owns 3,509,922 shares of the basic materials company’s stock valued at $146,679,000 after buying an additional 456,654 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Schnitzer Steel Industries by 9.0% in the first quarter. New York State Common Retirement Fund now owns 24,300 shares of the basic materials company’s stock valued at $1,015,000 after buying an additional 2,000 shares during the last quarter. Finally, UBS Group AG lifted its stake in Schnitzer Steel Industries by 1,613.2% in the first quarter. UBS Group AG now owns 15,059 shares of the basic materials company’s stock valued at $629,000 after buying an additional 14,180 shares during the last quarter. Institutional investors own 81.51% of the company’s stock.
Several equities research analysts have recently commented on SCHN shares. Zacks Investment Research cut Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research note on Thursday, September 23rd. Northland Securities started coverage on Schnitzer Steel Industries in a research note on Monday, July 19th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $42.67.
Schnitzer Steel Industries Profile
Schnitzer Steel Industries, Inc engages in the recycling of ferrous and nonferrous scrap metal and manufacture of finished steel products. It operates through the following segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS). The AMR segment acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers and procure salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores.
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