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Schnitzer Steel Industries (SCHN)

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.

Company profile

Ticker
SCHN
Exchange
Website
CEO
Tamara Lundgren
Employees
Incorporated
Location
Fiscal year end
Former names
SCHNITZER STEEL INDUSTRIES INC
SEC CIK
Subsidiaries
Auto Parts Group • Cascade Steel Rolling Mills, Inc. • Crawford Street Corporation • Edman Corp. • FerMar, LLC • Ferrum Bridge, LLC • Freetown Self Serve Used Auto Parts, LLC • Freetown Transfer Facility LLC • General Metals of Tacoma, Inc. • Joint Venture Operations, Inc. ...
IRS number
930341923

SCHN stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$54.50
Low target
$47.00
High target
$62.00
Goldman Sachs
Maintains
Buy
$47.00
31 May 22
Keybanc
Maintains
Overweight
$62.00
20 Apr 22

Calendar

6 Apr 22
26 Jun 22
31 Aug 22
Quarter (USD) Feb 22 Nov 21 Aug 21 May 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Aug 21 Aug 20 Aug 19 Aug 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 17.82M 17.82M 17.82M 17.82M 17.82M 17.82M
Cash burn (monthly) 419.33K (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 1.66M n/a n/a n/a n/a n/a
Cash remaining 16.16M n/a n/a n/a n/a n/a
Runway (months of cash) 38.5 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 May 22 Hicks Wayland R Class A Common Stock Grant Acquire A Yes No 44.48 426.922 18.99K 104,858.091
2 May 22 Hunter Rhonda D Class A Common Stock Grant Acquire A Yes No 44.48 91.221 4.06K 24,885.284
2 May 22 Judi Johansen Class A Common Stock Grant Acquire A Yes No 44.48 331.6 14.75K 82,149.916
2 May 22 Minor Glenda J Class A Common Stock Grant Acquire A Yes No 44.48 21.953 976.47 8,383.701
2 May 22 Sutherlin Michael W Class A Common Stock Grant Acquire A Yes No 44.48 184.287 8.2K 47,055.986
85.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 188 189 -0.5%
Opened positions 33 37 -10.8%
Closed positions 34 23 +47.8%
Increased positions 58 54 +7.4%
Reduced positions 70 69 +1.4%
13F shares Current Prev Q Change
Total value 1.21B 1.24B -2.1%
Total shares 23.41M 23.18M +1.0%
Total puts 150.5K 153.4K -1.9%
Total calls 321.6K 122.9K +161.7%
Total put/call ratio 0.5 1.2 -62.5%
Largest owners Shares Value Change
BLK Blackrock 2.92M $151.8M -17.6%
Vanguard 2.66M $138.33M -0.1%
Dimensional Fund Advisors 2.09M $108.64M +0.3%
STT State Street 1.52M $79.01M +36.2%
FMR 1.38M $71.74M +9.3%
AMP Ameriprise Financial 1.3M $67.59M +9.1%
FIL 944.89K $49.08M +52.3%
Victory Capital Management 756.29K $39.14M +8.6%
BK Bank Of New York Mellon 523.55K $27.19M -4.7%
Geode Capital Management 486.85K $25.29M +5.6%
Largest transactions Shares Bought/sold Change
BLK Blackrock 2.92M -625.44K -17.6%
Alliancebernstein 64.72K -426.11K -86.8%
STT State Street 1.52M +404.67K +36.2%
FIL 944.89K +324.66K +52.3%
Allianz Asset Management GmbH 161.94K +153.65K +1855.0%
Scopus Asset Management 133.15K +133.15K NEW
Alden Global Capital 120.6K +120.6K NEW
Acadian Asset Management 465.26K -120.51K -20.6%
FMR 1.38M +117.89K +9.3%
DekaBank Deutsche Girozentrale 0 -115K EXIT

Financial report summary

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Competition
Commercial MetalsNucor
Risks
  • Economic and geopolitical instability including as a result of military conflict could have a material adverse effect on our operating results, financial condition, and cash flows
Management Discussion
  • ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Founded in 1906, Schnitzer Steel Industries, Inc. is one of North America’s largest recyclers of ferrous and nonferrous metal, including end-of-life vehicles, and a manufacturer of finished steel products. As a vertically integrated organization, we offer a range of products and services to meet global demand through our network that includes 50 retail self-service auto parts stores, 52 metals recycling facilities, and an electric arc furnace (“EAF”) steel mill.
  • We sell recycled ferrous and nonferrous metal in both foreign and domestic markets. We also sell a range of finished steel long products produced at our steel mill. We acquire, process, and recycle end-of-life (salvaged) vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap through our facilities. Our retail self-service auto parts stores located across the United States (“U.S.”) and Western Canada, which operate under the commercial brand-name Pick-n-Pull, procure the significant majority of our salvaged vehicles and sell serviceable used auto parts from these vehicles. Upon acquiring a salvaged vehicle, we remove catalytic converters, aluminum wheels, and batteries for separate processing and sale prior to placing the vehicle in our retail lot. After retail customers have removed desired parts from a vehicle, we may remove remaining major component parts containing ferrous and nonferrous metals, which are primarily sold to wholesalers. The remaining auto bodies are crushed and shipped to our metals recycling facilities to be shredded or sold to third parties when geographically more economical. At our metals recycling facilities, we process mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, separating, and sorting, resulting in recycled ferrous, nonferrous, and mixed metal pieces of a size, density, and metal content required by customers to meet their production needs. Each of our shredding, nonferrous processing, and separation systems is designed to optimize the recovery of valuable recycled metal. We also purchase nonferrous metal directly from industrial vendors and other suppliers and aggregate and prepare this metal for shipment to customers by ship, rail, or truck. In addition to the sale of recycled metal processed at our facilities, we also provide a variety of recycling and related services including brokering the sale of ferrous and nonferrous scrap metal generated by industrial entities and demolition projects to customers in the domestic market, among other services. Our steel mill produces semi-finished goods (billets) and finished goods, consisting of rebar, coiled rebar, wire rod, merchant bar, and other specialty products, using recycled ferrous metal sourced internally from our recycling and joint venture operations and other raw materials.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: broader, compressed, concrete, conflict, downtime, European, expiration, geopolitical, inflationary, instability, larger, launched, military, Northwest, Pacific, pressure, proportionately, retaliatory, Russia, Russian, salary, strike, surge, suspend, Ukraine, war
Removed: appeal, Cascade, classified, Coast, comprising, distancing, DTSC, implemented, infection, municipal, protect, put, Real, rescind, September, Toxic, travel, zorba