Goldman Cuts Schnitzer Steel (NASDAQ:SCHN) Stock To a Neutral Rating

Investors sentiment increased to 0.94 in Q3 2018. Its up 0.05, from 0.89 in 2018Q2. It increased, as 24 investors sold Schnitzer Steel Industries, Inc. shares while 56 reduced holdings. 28 funds opened positions while 47 raised stakes. 22.57 million shares or 4.92% less from 23.74 million shares in 2018Q2 were reported.

James Invest Research Incorporated reported 0.05% stake. 1,805 were accumulated by Metropolitan Life Ins Comm Ny. Heartland Advsrs owns 287,145 shares. Northwestern Mutual Wealth Mgmt accumulated 2,700 shares. Swiss Natl Bank invested in 0% or 46,800 shares. Rhumbline Advisers reported 0% stake. Tudor Inv Corp Et Al accumulated 58,922 shares. Brandywine Invest Management Llc reported 86,356 shares. Brinker reported 7,661 shares. Bankshares Of Montreal Can holds 5,837 shares or 0% of its portfolio. Moreover, Panagora Asset has 0% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 13,315 shares. Parametric Associates Ltd Com has 94,290 shares. Jpmorgan Chase holds 0% or 358,624 shares. Da Davidson Co has 0.01% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Conning has 0.01% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN).

Since October 26, 2018, it had 0 buys, and 6 selling transactions for $1.72 million activity. The insider Heiskell Steven sold 13,316 shares worth $362,994. The insider Saba Peter B sold 7,356 shares worth $195,964. 4,401 shares valued at $117,727 were sold by Gaggini Stefano R. on Wednesday, October 31. Henderson Michael R sold 14,311 shares worth $386,826.

Schnitzer Steel (NASDAQ:SCHN) Receives a Downgrade

The old rating for Schnitzer Steel (NASDAQ:SCHN) shares of a Buy has been discontinued, as research professionals at Goldman downgraded the current rating for Schnitzer Steel (NASDAQ:SCHN) shares to a Neutral.

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

Among 3 analysts covering Schnitzer Steel Indus (NASDAQ:SCHN), 0 have Buy rating, 1 Sell and 2 Hold. Therefore 0 are positive. Schnitzer Steel Indus has $28 highest and $24 lowest target. $26’s average target is 17.97% above currents $22.04 stock price. Schnitzer Steel Indus had 3 analyst reports since August 15, 2018 according to SRatingsIntel. The rating was maintained by Macquarie Research on Friday, September 28 with “Neutral”. As per Wednesday, August 15, the company rating was downgraded by Morgan Stanley.

The stock decreased 4.01% or $0.92 during the last trading session, reaching $22.04. About 609,242 shares traded or 58.61% up from the average. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has declined 8.94% since January 14, 2018 and is downtrending. It has underperformed by 8.94% the S&P500.

Schnitzer Steel Industries, Inc. recycles ferrous and nonferrous scrap metals; and makes finished steel products worldwide. The company has market cap of $577.76 million. It operates through two divisions, Auto and Metals Recycling and Steel Manufacturing Business (SMB). It has a 4.07 P/E ratio. The AMR segment buys, collects, processes, recycles, sells, and brokers scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Institutional Positions Chart

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