NEW YORK ( TheStreet) -- Schnitzer Steel Industries (Nasdaq: SCHN) is trading at unusually high volume Monday with 1.1 million shares changing hands. It is currently at four times its average daily volume and trading down $4.08 (-8.9%) at $41.65 as of 3:50 p.m. ET.

Schnitzer has a market cap of $1.09 billion and is part of the basic materials sector and metals & mining industry. Shares are down 31.1% year to date as of the close of trading on Friday.

Schnitzer Steel Industries, Inc. engages in recycling ferrous and nonferrous scrap metals, and used and salvaged vehicles; and manufacturing finished steel products. The company has a P/E ratio of 36.1, above the average metals & mining industry P/E ratio of 10.6 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Schnitzer as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and notable return on equity. However, as a counter to these strengths, we also find weaknesses including poor profit margins and a generally disappointing performance in the stock itself. You can view the full Schnitzer Ratings Report.

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