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. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.