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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

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Calendar

7 Apr 21
11 Apr 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
31 Mar 21 Hicks Wayland R Class A Common Stock Grant Aquire A Yes No 41.79 628.141 26.25K 97,633.47
1 Feb 21 Hunter Rhonda D Class A Common Stock Grant Aquire A Yes No 30.5 105.998 3.23K 21,354.262
1 Feb 21 Hicks Wayland R Class A Common Stock Grant Aquire A Yes No 30.5 525.87 16.04K 97,005.329
1 Feb 21 Jahnke David L Class A Common Stock Grant Aquire A Yes No 30.5 319.815 9.75K 56,349.004
1 Feb 21 Judi Johansen Class A Common Stock Grant Aquire A Yes No 30.5 449.131 13.7K 77,513.82

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

85.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 133 130 +2.3%
Opened positions 20 13 +53.8%
Closed positions 17 12 +41.7%
Increased positions 37 38 -2.6%
Reduced positions 51 52 -1.9%
13F shares
Current Prev Q Change
Total value 981.63M 432.24M +127.1%
Total shares 23.21M 22.47M +3.3%
Total puts 34.1K 45.8K -25.5%
Total calls 102.7K 99.8K +2.9%
Total put/call ratio 0.3 0.5 -27.6%
Largest owners
Shares Value Change
BLK Blackrock 3.05M $97.43M +8.6%
Vanguard 2.24M $71.34M -1.7%
Dimensional Fund Advisors 2.21M $70.67M -1.2%
STT State Street 1.44M $45.98M +11.7%
AMP Ameriprise Financial 1.41M $44.94M +2.4%
Alliancebernstein 1.29M $41.02M +23.9%
BK Bank Of New York Mellon 1.04M $33.22M -0.5%
FIL 815.4K $26.02M +6.1%
Acadian Asset Management 630.19K $20.11M +13.2%
MS Morgan Stanley 490.88K $15.66M +6.1%
Largest transactions
Shares Bought/sold Change
Alliancebernstein 1.29M +248.16K +23.9%
BLK Blackrock 3.05M +241.08K +8.6%
Millennium Management 320.49K +216.1K +207.0%
GW&K Investment Management 220.67K +206.24K +1428.9%
STT State Street 1.44M +150.52K +11.7%
Crestline Management 0 -140.62K EXIT
Norges Bank 121.12K +121.12K NEW
BMO Bank of Montreal 363.03K +84.83K +30.5%
Segall Bryant & Hamill 446.27K -81.66K -15.5%
Nia Impact Advisors 80.85K +80.85K NEW

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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