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SCHN Schnitzer Steel Industries

Schnitzer Steel Industries, Inc. engages in the recycling of ferrous and nonferrous scrap metal and manufacture of finished steel products. It operates through the following segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS). The AMR segment acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers and procure salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores. The CSS segment manages a steel mini-mill that produces finished steel long products using ferrous recycled scrap metal and other raw materials. The company was founded by Sam Schnitzer in 1906 and is headquartered in Portland, OR.

Company profile

Ticker
SCHN
Exchange
CEO
Tamara Lundgren
Employees
Incorporated
Location
Fiscal year end
Former names
SCHNITZER STEEL INDUSTRIES INC
SEC CIK
IRS number
930341923

SCHN stock data

(
)

Calendar

7 Apr 21
13 Jun 21
31 Aug 21
Quarter (USD)
Feb 21 Nov 20 Aug 20 May 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Aug 20 Aug 19 Aug 18 Aug 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 May 21 Peach Richard Class A Common Stock Sell Dispose S No No 53.86 16,319 878.94K 186,807
4 May 21 Gaggini Stefano R. Class A Common Stock Sell Dispose S No No 51.4 1,026 52.74K 51,709
4 May 21 Heiskell Steven Class A Common Stock Sell Dispose S No No 52.13 1,649 85.96K 116,140
4 May 21 Henderson Michael R Class A Common Stock Sell Dispose S No No 52.37 1,625 85.1K 125,695
3 May 21 Gaggini Stefano R. Class A Common Stock Payment of exercise Dispose F No No 47.21 971 45.84K 52,735
3 May 21 Heiskell Steven Class A Common Stock Payment of exercise Dispose F No No 47.21 1,742 82.24K 117,789
3 May 21 Henderson Michael R Class A Common Stock Payment of exercise Dispose F No No 47.21 1,793 84.65K 127,320
3 May 21 Lundgren Tamara L. Class A Common Stock Payment of exercise Dispose F No No 47.21 8,319 392.74K 1,004,797
3 May 21 Peach Richard Class A Common Stock Payment of exercise Dispose F No No 47.21 2,094 98.86K 203,126

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

84.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 170 134 +26.9%
Opened positions 49 21 +133.3%
Closed positions 13 17 -23.5%
Increased positions 45 37 +21.6%
Reduced positions 51 51
13F shares
Current Prev Q Change
Total value 1.48B 988.31M +49.9%
Total shares 23.04M 23.42M -1.6%
Total puts 89K 34.1K +161.0%
Total calls 244.4K 102.7K +138.0%
Total put/call ratio 0.4 0.3 +9.7%
Largest owners
Shares Value Change
BLK Blackrock 3.51M $146.68M +15.0%
Vanguard 2.33M $97.42M +4.3%
Dimensional Fund Advisors 2.18M $91.23M -1.4%
STT State Street 1.57M $65.44M +8.7%
Alliancebernstein 1.18M $49.27M -8.3%
AMP Ameriprise Financial 1.13M $47.18M -19.9%
FIL 835.16K $34.9M +2.4%
Acadian Asset Management 820.23K $34.28M +30.2%
BK Bank Of New York Mellon 794.71K $33.21M -23.7%
Charles Schwab Investment Management 447.1K $18.69M -7.5%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 3.51M +456.65K +15.0%
Aperio 0 -306.43K EXIT
AMP Ameriprise Financial 1.13M -279.6K -19.9%
BK Bank Of New York Mellon 794.71K -246.42K -23.7%
Acadian Asset Management 820.23K +190.04K +30.2%
Lazard Asset Management 182.47K +182.47K NEW
Millennium Management 168.84K -151.65K -47.3%
BMO Bank of Montreal 230.97K -132.06K -36.4%
Jacobs Levy Equity Management 161.6K -129.25K -44.4%
STT State Street 1.57M +125.01K +8.7%

Financial report summary

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Risks
  • We operate in industries that are cyclical and sensitive to general economic conditions, which could have a material adverse effect on our operating results, financial condition and cash flows
  • Changing conditions in global markets including the impact of sanctions and tariffs, quotas and other trade actions and import restrictions may adversely affect our operating results, financial condition and cash flows
  • Changes in the availability or price of inputs such as raw materials and end-of-life vehicles could reduce our sales
  • Significant decreases in scrap metal prices may adversely impact our operating results
  • Imbalances in supply and demand conditions in the global steel industry may reduce demand for our products
  • Goodwill impairment charges may adversely affect our operating results
  • Impairment of long-lived assets and equity investments may adversely affect our operating results
  • Failure to realize or delays in realizing expected benefits from investments in processing and manufacturing technology improvements may impact our operating results and cash flows
  • We may be unable to renew facility leases, thus restricting our ability to operate
  • Acquisitions and integration of acquired businesses may result in operating difficulties and other unintended consequences
  • Changing economic conditions may result in customers not fulfilling their contractual obligations
  • Increases in the value of the U.S. dollar relative to other currencies may reduce the demand for our products
  • We are exposed to translation risks associated with fluctuations in foreign currency exchange rates
  • Potential limitations on our ability to access capital resources may restrict our ability to operate
  • The agreement governing our bank credit facilities imposes certain restrictions on our business and contains financial covenants
  • Reliance on third party shipping companies may restrict our ability to ship our products
  • Equipment upgrades, equipment failures and facility damage may lead to production curtailments or shutdowns
  • Product liability claims may adversely impact our operating results
  • Climate change may adversely impact our facilities and our ongoing operations
  • We may not realize our deferred tax assets in the future
  • Tax increases and changes in tax rules may adversely affect our financial results
  • One or more cybersecurity incidents may adversely impact our financial condition, results of operations and reputation
  • Environmental compliance costs and potential environmental liabilities may have a material adverse effect on our financial condition and results of operations
  • Governmental agencies may refuse to grant or renew our licenses and permits, thus restricting our ability to operate
  • Compliance with existing and future climate change and greenhouse gas emission laws and regulations may adversely impact our operating results
  • Reliance on employees subject to collective bargaining may restrict our ability to operate
  • The underfunded status of our multiemployer pension plans may cause us to increase our contributions to the plans
Management Discussion
  • LT = Long Ton, which is equivalent to 2,240 pounds. ST = Short Ton, which is equivalent to 2,000 pounds.
  • SCHNITZER STEEL INDUSTRIES, INC.
  • Revenues in the second quarter and first six months of fiscal 2021 increased by 37% and 29%, respectively, compared to the same periods in the prior year primarily due to significantly higher average net selling prices for our ferrous and nonferrous products in both export and domestic markets. These increases were driven by stronger market conditions for recycled metals globally, including periods of sharply rising selling prices that reached multi-year highs for certain recycled metal commodities during the second quarter of fiscal 2021. In the second quarter and first six months of fiscal 2021, the average net selling price for our ferrous products increased by 52% and 39%, respectively, and the average net selling price for our nonferrous products increased by 51% and 35%, respectively, compared to the prior year periods. Nonferrous sales volumes for the second quarter and first six months of fiscal 2021 increased by 9% and 2%, respectively, compared to the prior year periods reflecting stronger demand partially offset by the effects of a shortage of available shipping containers that impacted the timing of shipments. Ferrous sales volumes in the second quarter of fiscal 2021 declined marginally compared to the prior year quarter primarily due to weather-related delays that impacted the timing of shipments. Market conditions for our finished steel products also improved in the second quarter and first six months of fiscal 2021, which contributed to higher finished steel average selling prices and sales volumes compared to the prior year periods, and reflected steady demand in West Coast construction markets and higher rolling mill utilization.
Content analysis
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Readability
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Removed: duration, emergency, involving, national, Notwithstanding, resolution, ultimate