Schnitzer Stock Hits New 52-Week Low (SCHN)

NEW YORK ( TheStreet) -- Schnitzer Steel Industries (Nasdaq: SCHN) hit a new 52-week low Monday as it is currently trading at $24.18, below its previous 52-week low of $24.31 with 96,457 shares traded as of 10:15 a.m. ET. Average volume has been 412,100 shares over the past 30 days.

Schnitzer has a market cap of $641.2 million and is part of the basic materials sector and metals & mining industry. Shares are down 41.2% 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 8.2, equal to the average metals & mining industry P/E ratio and below 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, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. You can view the full Schnitzer Ratings Report.

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