Schnitzer Steel Industries said on April 5, 2023 that its board of directors declared a regular
quarterly dividend of $0.19 per share ($0.75 annualized).
Previously, the company paid $0.19 per share.
Shares must be purchased before the ex-div date of April 21, 2023 to qualify for the dividend.
Shareholders of record as of April 24, 2023
will receive the payment on May 8, 2023.
At the current share price of $28.70 / share,
the stock’s dividend yield is 2.61%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.74%,
the lowest has been 1.31%,
and the highest has been 6.28%.
The standard deviation of yields is 1.03 (n=236).
The current dividend yield is
0.12 standard deviations
below
the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 433 funds or institutions reporting positions in Schnitzer Steel Industries.
This is an increase
of
3
owner(s) or 0.70% in the last quarter.
Average portfolio weight of all funds dedicated to SCHN is 0.12%,
a decrease
of 1.24%.
Total shares owned by institutions increased
in the last three months by 2.45% to 26,107K shares.
The put/call ratio of SCHN is 0.62, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 35.05% Upside
As of April 6, 2023,
the average one-year price target for Schnitzer Steel Industries is $38.76.
The forecasts range from a low of $38.38 to a high of $39.90.
The average price target represents an increase of 35.05% from its latest reported closing price of $28.70.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Schnitzer Steel Industries
is $2,918MM, a decrease of 10.47%.
The projected annual non-GAAP EPS
is $1.91.
What are Other Shareholders Doing?
AVUVX – Avantis U.S. Small Cap Value Fund Institutional Class
holds 17K shares
representing 0.06% ownership of the company.
No change in the last quarter.
FMAT – Fidelity MSCI Materials Index ETF
holds 10K shares
representing 0.04% ownership of the company.
In it’s prior filing, the firm reported owning 10K shares, representing
a decrease
of 1.00%.
The firm
increased
its portfolio allocation in SCHN by 9.13% over the last quarter.
VYSVX – Vericimetry U.S. Small Cap Value Fund
holds 4K shares
representing 0.01% ownership of the company.
In it’s prior filing, the firm reported owning 3K shares, representing
an increase
of 9.08%.
The firm
increased
its portfolio allocation in SCHN by 9.91% over the last quarter.
WFIVX – Wilshire 5000 Index Fund Investment Class
holds 0K shares
representing 0.00% ownership of the company.
Belpointe Asset Management
holds 0K shares
representing 0.00% ownership of the company.
Schnitzer Steel Industries Background Information
(This description is provided by the company.)
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled metal products in North America with operating facilities located in 23 states, Puerto Rico and Western Canada. Schnitzer has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company’s integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive approximately 5 million annual retail visits. The Company’s steel manufacturing operations produce finished steel products, including rebar, wire rod and other specialty products. The Company began operations in 1906 in Portland, Oregon.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
