A Reversal for Schnitzer Steel Industries Incorporated (NASDAQ:SCHN) Is Not Near. The Stock Has Rise in Shorts

November 7, 2017 - By Jacob Falcon

 A Reversal for Schnitzer Steel Industries Incorporated (NASDAQ:SCHN) Is Not Near. The Stock Has Rise in Shorts

Investors sentiment decreased to 0.99 in 2017 Q2. Its down 0.08, from 1.07 in 2017Q1. It turned negative, as 24 investors sold Schnitzer Steel Industries, Inc. shares while 44 reduced holdings. 28 funds opened positions while 39 raised stakes. 22.51 million shares or 0.15% more from 22.48 million shares in 2017Q1 were reported.
Victory holds 65,288 shares. Putnam Invests Ltd Co invested 0.01% in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Deutsche Fincl Bank Ag owns 345,819 shares. Century Companies Inc has 0% invested in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) for 155,826 shares. Bancorporation Of New York Mellon reported 246,413 shares stake. Zurcher Kantonalbank (Zurich Cantonalbank) invested 0% in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). Pub Employees Retirement Systems Of Ohio holds 38,293 shares or 0.01% of its portfolio. Orca Investment Mgmt Limited Liability Com accumulated 147,581 shares. Acadian Asset Llc invested 0.01% in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). 157,800 are owned by Renaissance Techs Limited Liability Co. Pnc Services Grp invested in 2,017 shares. Tiaa Cref Invest Mngmt Ltd Com stated it has 0% in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). 45,923 were reported by Citigroup. Corecommodity Management Ltd Liability Co stated it has 5,094 shares. Us Savings Bank De invested 0% of its portfolio in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN).

The stock of Schnitzer Steel Industries Incorporated (NASDAQ:SCHN) registered an increase of 6.04% in short interest. SCHN’s total short interest was 2.48M shares in November as published by FINRA. Its up 6.04% from 2.34M shares, reported previously. With 337,000 shares average volume, it will take short sellers 7 days to cover their SCHN’s short positions. The short interest to Schnitzer Steel Industries Incorporated’s float is 9.39%.

About 189,750 shares traded. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has risen 21.74% since November 7, 2016 and is uptrending. It has outperformed by 5.04% the S&P500.

Schnitzer Steel Industries, Inc. is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a maker of finished steel products. The company has market cap of $757.75 million. The Firm operates through two divisions: the Auto and Metals Recycling business and the Steel Manufacturing Business (SMB). It has a 17.68 P/E ratio. 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.

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

Among 4 analysts covering Schnitzer Steel Industries (NASDAQ:SCHN), 1 have Buy rating, 0 Sell and 3 Hold. Therefore 25% are positive. Schnitzer Steel Industries had 6 analyst reports since August 12, 2015 according to SRatingsIntel. The rating was upgraded by Morgan Stanley to “Equal-Weight” on Tuesday, November 24. KeyBanc Capital Markets maintained the stock with “Hold” rating in Wednesday, October 11 report. The firm earned “Buy” rating on Wednesday, September 16 by Jefferies. Morgan Stanley maintained the shares of SCHN in report on Tuesday, October 31 with “Equal-Weight” rating. On Wednesday, August 12 the stock rating was downgraded by Zacks to “Buy”.

More notable recent Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) news were published by: Seekingalpha.com which released: “Schnitzer Steel Industries’ (SCHN) CEO Tamara Lundgren on Q2 2017 Results …” on April 06, 2017, also Nasdaq.com with their article: “Schnitzer Steel Industries Inc. Profit Advances 12% In Q4” published on October 24, 2017, Businesswire.com published: “Schnitzer Board Announces a New Independent Director” on October 27, 2017. More interesting news about Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) were released by: Nasdaq.com and their article: “Is Schnitzer Steel (SCHN) a Great Stock for Value Investors?” published on June 29, 2017 as well as Zacks.com‘s news article titled: “Surging Earnings Estimates Signal Good News for Schnitzer Steel (SCHN …” with publication date: September 19, 2017.

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