Intrinsic value of Schnitzer Steel Industries - SCHN

Previous Close

$27.61

  Intrinsic Value

$359.06

stock screener

  Rating & Target

str. buy

+999%

Previous close

$27.61

 
Intrinsic value

$359.06

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of SCHN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  36.70
  33.53
  30.68
  28.11
  25.80
  23.72
  21.85
  20.16
  18.65
  17.28
  16.05
  14.95
  13.95
  13.06
  12.25
  11.53
  10.87
  10.29
  9.76
  9.28
  8.85
  8.47
  8.12
  7.81
  7.53
  7.28
  7.05
  6.84
  6.66
  6.49
Revenue, $m
  2,307
  3,080
  4,025
  5,157
  6,487
  8,026
  9,780
  11,751
  13,942
  16,352
  18,977
  21,813
  24,857
  28,103
  31,546
  35,182
  39,008
  43,020
  47,218
  51,601
  56,170
  60,927
  65,875
  71,020
  76,367
  81,923
  87,697
  93,698
  99,938
  106,427
Variable operating expenses, $m
  1,881
  2,506
  3,269
  4,183
  5,258
  6,501
  7,917
  9,510
  11,280
  13,226
  15,329
  17,621
  20,079
  22,701
  25,483
  28,420
  31,510
  34,752
  38,143
  41,683
  45,374
  49,216
  53,214
  57,369
  61,688
  66,177
  70,841
  75,689
  80,729
  85,971
Fixed operating expenses, $m
  265
  271
  276
  283
  289
  295
  302
  308
  315
  322
  329
  336
  344
  351
  359
  367
  375
  383
  392
  400
  409
  418
  427
  437
  446
  456
  466
  476
  487
  498
Total operating expenses, $m
  2,146
  2,777
  3,545
  4,466
  5,547
  6,796
  8,219
  9,818
  11,595
  13,548
  15,658
  17,957
  20,423
  23,052
  25,842
  28,787
  31,885
  35,135
  38,535
  42,083
  45,783
  49,634
  53,641
  57,806
  62,134
  66,633
  71,307
  76,165
  81,216
  86,469
Operating income, $m
  161
  304
  480
  691
  941
  1,230
  1,561
  1,933
  2,348
  2,804
  3,318
  3,856
  4,434
  5,050
  5,704
  6,395
  7,123
  7,886
  8,684
  9,518
  10,387
  11,293
  12,234
  13,214
  14,232
  15,290
  16,390
  17,533
  18,722
  19,958
EBITDA, $m
  236
  399
  598
  838
  1,121
  1,449
  1,823
  2,245
  2,714
  3,230
  3,794
  4,403
  5,057
  5,754
  6,494
  7,277
  8,100
  8,963
  9,867
  10,810
  11,794
  12,818
  13,884
  14,993
  16,145
  17,342
  18,586
  19,880
  21,225
  22,624
Interest expense (income), $m
  7
  8
  16
  26
  38
  52
  69
  89
  112
  137
  165
  196
  229
  266
  305
  346
  390
  437
  486
  537
  591
  647
  706
  767
  830
  896
  965
  1,036
  1,110
  1,187
  1,267
Earnings before tax, $m
  154
  289
  454
  654
  889
  1,161
  1,472
  1,822
  2,211
  2,639
  3,123
  3,627
  4,168
  4,746
  5,358
  6,005
  6,686
  7,400
  8,147
  8,927
  9,740
  10,587
  11,468
  12,384
  13,336
  14,325
  15,354
  16,423
  17,535
  18,692
Tax expense, $m
  41
  78
  123
  176
  240
  313
  397
  492
  597
  712
  843
  979
  1,125
  1,281
  1,447
  1,621
  1,805
  1,998
  2,200
  2,410
  2,630
  2,858
  3,096
  3,344
  3,601
  3,868
  4,146
  4,434
  4,734
  5,047
Net income, $m
  112
  211
  332
  477
  649
  848
  1,074
  1,330
  1,614
  1,926
  2,280
  2,648
  3,043
  3,464
  3,911
  4,384
  4,881
  5,402
  5,947
  6,516
  7,110
  7,728
  8,371
  9,040
  9,735
  10,458
  11,208
  11,989
  12,801
  13,645

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,276
  1,704
  2,226
  2,852
  3,588
  4,439
  5,409
  6,500
  7,712
  9,044
  10,496
  12,065
  13,748
  15,544
  17,448
  19,459
  21,575
  23,795
  26,116
  28,541
  31,068
  33,699
  36,435
  39,281
  42,238
  45,311
  48,505
  51,824
  55,275
  58,864
Adjusted assets (=assets-cash), $m
  1,276
  1,704
  2,226
  2,852
  3,588
  4,439
  5,409
  6,500
  7,712
  9,044
  10,496
  12,065
  13,748
  15,544
  17,448
  19,459
  21,575
  23,795
  26,116
  28,541
  31,068
  33,699
  36,435
  39,281
  42,238
  45,311
  48,505
  51,824
  55,275
  58,864
Revenue / Adjusted assets
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
  1.808
Average production assets, $m
  653
  872
  1,139
  1,459
  1,836
  2,271
  2,768
  3,326
  3,946
  4,628
  5,370
  6,173
  7,035
  7,953
  8,927
  9,957
  11,039
  12,175
  13,363
  14,603
  15,896
  17,242
  18,643
  20,099
  21,612
  23,184
  24,818
  26,517
  28,282
  30,119
Working capital, $m
  212
  283
  370
  474
  597
  738
  900
  1,081
  1,283
  1,504
  1,746
  2,007
  2,287
  2,585
  2,902
  3,237
  3,589
  3,958
  4,344
  4,747
  5,168
  5,605
  6,061
  6,534
  7,026
  7,537
  8,068
  8,620
  9,194
  9,791
Total debt, $m
  292
  476
  700
  969
  1,284
  1,649
  2,065
  2,533
  3,053
  3,625
  4,248
  4,921
  5,643
  6,413
  7,230
  8,093
  9,001
  9,953
  10,949
  11,989
  13,073
  14,202
  15,376
  16,596
  17,865
  19,184
  20,554
  21,978
  23,458
  24,998
Total liabilities, $m
  547
  731
  955
  1,224
  1,539
  1,904
  2,320
  2,788
  3,308
  3,880
  4,503
  5,176
  5,898
  6,668
  7,485
  8,348
  9,256
  10,208
  11,204
  12,244
  13,328
  14,457
  15,631
  16,851
  18,120
  19,439
  20,809
  22,233
  23,713
  25,253
Total equity, $m
  729
  973
  1,271
  1,629
  2,049
  2,535
  3,089
  3,711
  4,403
  5,164
  5,993
  6,889
  7,850
  8,875
  9,963
  11,111
  12,319
  13,587
  14,912
  16,297
  17,740
  19,242
  20,805
  22,429
  24,118
  25,873
  27,696
  29,592
  31,562
  33,612
Total liabilities and equity, $m
  1,276
  1,704
  2,226
  2,853
  3,588
  4,439
  5,409
  6,499
  7,711
  9,044
  10,496
  12,065
  13,748
  15,543
  17,448
  19,459
  21,575
  23,795
  26,116
  28,541
  31,068
  33,699
  36,436
  39,280
  42,238
  45,312
  48,505
  51,825
  55,275
  58,865
Debt-to-equity ratio
  0.400
  0.490
  0.550
  0.590
  0.630
  0.650
  0.670
  0.680
  0.690
  0.700
  0.710
  0.710
  0.720
  0.720
  0.730
  0.730
  0.730
  0.730
  0.730
  0.740
  0.740
  0.740
  0.740
  0.740
  0.740
  0.740
  0.740
  0.740
  0.740
  0.740
Adjusted equity ratio
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  112
  211
  332
  477
  649
  848
  1,074
  1,330
  1,614
  1,926
  2,280
  2,648
  3,043
  3,464
  3,911
  4,384
  4,881
  5,402
  5,947
  6,516
  7,110
  7,728
  8,371
  9,040
  9,735
  10,458
  11,208
  11,989
  12,801
  13,645
Depreciation, amort., depletion, $m
  75
  94
  118
  146
  180
  218
  262
  312
  366
  427
  475
  546
  623
  704
  790
  881
  977
  1,077
  1,183
  1,292
  1,407
  1,526
  1,650
  1,779
  1,913
  2,052
  2,196
  2,347
  2,503
  2,665
Funds from operations, $m
  187
  305
  450
  624
  828
  1,066
  1,337
  1,641
  1,980
  2,353
  2,755
  3,194
  3,665
  4,168
  4,701
  5,265
  5,857
  6,479
  7,130
  7,809
  8,517
  9,254
  10,021
  10,819
  11,648
  12,509
  13,405
  14,336
  15,304
  16,310
Change in working capital, $m
  57
  71
  87
  104
  122
  142
  161
  181
  202
  222
  241
  261
  280
  299
  317
  335
  352
  369
  386
  403
  420
  438
  455
  473
  492
  511
  531
  552
  574
  597
Cash from operations, $m
  130
  234
  363
  519
  706
  924
  1,175
  1,460
  1,779
  2,131
  2,513
  2,933
  3,385
  3,869
  4,385
  4,930
  5,505
  6,110
  6,743
  7,406
  8,097
  8,816
  9,566
  10,345
  11,156
  11,998
  12,873
  13,783
  14,729
  15,713
Maintenance CAPEX, $m
  -42
  -58
  -77
  -101
  -129
  -162
  -201
  -245
  -294
  -349
  -410
  -475
  -546
  -623
  -704
  -790
  -881
  -977
  -1,077
  -1,183
  -1,292
  -1,407
  -1,526
  -1,650
  -1,779
  -1,913
  -2,052
  -2,196
  -2,347
  -2,503
New CAPEX, $m
  -175
  -219
  -267
  -320
  -377
  -435
  -496
  -558
  -620
  -682
  -743
  -803
  -861
  -919
  -974
  -1,029
  -1,083
  -1,136
  -1,188
  -1,240
  -1,293
  -1,346
  -1,400
  -1,456
  -1,513
  -1,572
  -1,634
  -1,698
  -1,766
  -1,836
Cash from investing activities, $m
  -217
  -277
  -344
  -421
  -506
  -597
  -697
  -803
  -914
  -1,031
  -1,153
  -1,278
  -1,407
  -1,542
  -1,678
  -1,819
  -1,964
  -2,113
  -2,265
  -2,423
  -2,585
  -2,753
  -2,926
  -3,106
  -3,292
  -3,485
  -3,686
  -3,894
  -4,113
  -4,339
Free cash flow, $m
  -87
  -43
  18
  98
  200
  326
  478
  657
  864
  1,100
  1,361
  1,655
  1,978
  2,328
  2,706
  3,111
  3,542
  3,997
  4,478
  4,983
  5,511
  6,064
  6,640
  7,240
  7,864
  8,513
  9,188
  9,889
  10,617
  11,374
Issuance/(repayment) of debt, $m
  147
  184
  224
  268
  316
  365
  416
  468
  520
  572
  623
  673
  722
  770
  817
  863
  908
  952
  996
  1,040
  1,084
  1,129
  1,174
  1,221
  1,269
  1,318
  1,370
  1,424
  1,480
  1,540
Issuance/(repurchase) of shares, $m
  83
  34
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  230
  218
  224
  268
  316
  365
  416
  468
  520
  572
  623
  673
  722
  770
  817
  863
  908
  952
  996
  1,040
  1,084
  1,129
  1,174
  1,221
  1,269
  1,318
  1,370
  1,424
  1,480
  1,540
Total cash flow (excl. dividends), $m
  143
  174
  242
  367
  516
  691
  894
  1,125
  1,384
  1,672
  1,984
  2,328
  2,700
  3,099
  3,523
  3,974
  4,449
  4,950
  5,474
  6,023
  6,595
  7,192
  7,814
  8,460
  9,133
  9,831
  10,558
  11,313
  12,098
  12,914
Retained Cash Flow (-), $m
  -195
  -244
  -298
  -357
  -420
  -486
  -554
  -623
  -692
  -761
  -829
  -896
  -961
  -1,025
  -1,087
  -1,148
  -1,208
  -1,267
  -1,326
  -1,384
  -1,443
  -1,502
  -1,563
  -1,625
  -1,689
  -1,755
  -1,824
  -1,895
  -1,971
  -2,049
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -52
  -70
  -56
  10
  96
  205
  340
  502
  692
  911
  1,155
  1,432
  1,739
  2,073
  2,436
  2,826
  3,241
  3,682
  4,148
  4,638
  5,152
  5,690
  6,251
  6,836
  7,444
  8,077
  8,734
  9,417
  10,127
  10,864
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -50
  -64
  -49
  8
  74
  149
  230
  314
  398
  478
  548
  611
  661
  696
  715
  718
  705
  678
  639
  589
  533
  472
  410
  348
  290
  236
  187
  146
  111
  82
Current shareholders' claim on cash, %
  89.9
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0
  87.0

Schnitzer Steel Industries, Inc. is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure. AMR's primary products include recycled ferrous and nonferrous scrap metal. The SMB segment produces finished steel products such as rebar, wire rod, coiled rebar, merchant bar and other specialty products using 100% recycled metal sourced from AMR. SMB's products are primarily used in nonresidential and infrastructure construction in North America. SMB operates a steel mini-mill in McMinnville, Oregon that produces finished steel products using recycled metal and other raw materials.

FINANCIAL RATIOS  of  Schnitzer Steel Industries (SCHN)

Valuation Ratios
P/E Ratio 16.6
Price to Sales 0.4
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 7.5
Price to Free Cash Flow 13.6
Growth Rates
Sales Growth Rate 24.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 28.6%
Cap. Spend. - 3 Yr. Gr. Rate 2.9%
Financial Strength
Quick Ratio 7
Current Ratio 0
LT Debt to Equity 27%
Total Debt to Equity 27.2%
Interest Coverage 8
Management Effectiveness
Return On Assets 5.7%
Ret/ On Assets - 3 Yr. Avg. -4.1%
Return On Total Capital 6.6%
Ret/ On T. Cap. - 3 Yr. Avg. -5.8%
Return On Equity 8.7%
Return On Equity - 3 Yr. Avg. -8.4%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 13.2%
Gross Margin - 3 Yr. Avg. 11.8%
EBITDA Margin 6.3%
EBITDA Margin - 3 Yr. Avg. 1%
Operating Margin 3.3%
Oper. Margin - 3 Yr. Avg. -2.5%
Pre-Tax Margin 2.9%
Pre-Tax Margin - 3 Yr. Avg. -2.9%
Net Profit Margin 2.7%
Net Profit Margin - 3 Yr. Avg. -3%
Effective Tax Rate 4.1%
Eff/ Tax Rate - 3 Yr. Avg. 3.4%
Payout Ratio 44.4%

SCHN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SCHN stock intrinsic value calculation we used $1687.591 million for the last fiscal year's total revenue generated by Schnitzer Steel Industries. The default revenue input number comes from 0001 income statement of Schnitzer Steel Industries. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SCHN stock valuation model: a) initial revenue growth rate of 36.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SCHN is calculated based on our internal credit rating of Schnitzer Steel Industries, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Schnitzer Steel Industries.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SCHN stock the variable cost ratio is equal to 81.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $259 million in the base year in the intrinsic value calculation for SCHN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Schnitzer Steel Industries.

Corporate tax rate of 27% is the nominal tax rate for Schnitzer Steel Industries. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SCHN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SCHN are equal to 28.3%.

Life of production assets of 11.3 years is the average useful life of capital assets used in Schnitzer Steel Industries operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SCHN is equal to 9.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $533.586 million for Schnitzer Steel Industries - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 26.749 million for Schnitzer Steel Industries is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Schnitzer Steel Industries at the current share price and the inputted number of shares is $0.7 billion.

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COMPANY NEWS

▶ Opening Bell, November 14, 2018   [Nov-14-18 09:30AM  CNBC Videos]
▶ Today's Bell Ringer, November 14, 2018   [09:15AM  CNBC Videos]
▶ Schnitzer Board Declares Quarterly Dividend   [Nov-02-18 06:00PM  Business Wire]
▶ Schnitzer Steel: Fiscal 4Q Earnings Snapshot   [09:08AM  Associated Press]
▶ Schnitzer Board Declares Quarterly Dividend   [Aug-03-18 06:00PM  Business Wire]
▶ Elections complaint targets Nike, labor deal with governor   [Aug-01-18 05:35PM  American City Business Journals]
▶ Schnitzer Named AMMs 2018 Scrap Company of the Year   [Jun-29-18 02:07PM  Business Wire]
▶ New Strong Buy Stocks for June 27th   [Jun-27-18 10:06AM  Zacks]
▶ Schnitzer Steel: Fiscal 3Q Earnings Snapshot   [Jun-26-18 08:41AM  Associated Press]
▶ Earnings Outlook For Schnitzer Steel   [Jun-25-18 02:36PM  Benzinga]
▶ Benzinga Pro's 6 Stocks To Watch Today   [Jun-15-18 08:40AM  Benzinga]
▶ Hedge Your Bet With These Materials Dividend Payers   [May-27-18 02:02PM  Simply Wall St.]
▶ Schnitzer Board Declares Quarterly Dividend   [Apr-30-18 07:00PM  Business Wire]
▶ Value-Adding Materials Dividend Stocks To Buy Now   [Apr-22-18 02:02PM  Simply Wall St.]
▶ Schnitzer Steel posts 2Q profit   [08:50AM  Associated Press]
▶ 5 Solid Steel Stocks That are Set to Run Higher in Q2   [Apr-04-18 03:15PM  InvestorPlace]
▶ Best Materials Dividend Paying Stock in February   [Feb-04-18 01:02PM  Simply Wall St.]
▶ Schnitzer Board Declares Quarterly Dividend   [Feb-01-18 07:00PM  Business Wire]
▶ New Strong Buy Stocks for January 11th   [Jan-11-18 10:14AM  Zacks]
▶ Schnitzer Steel posts 1Q profit   [Jan-09-18 08:49AM  Associated Press]
▶ Feeding the beast with a bank earnings kicker   [Jan-05-18 07:21PM  CNBC Videos]
▶ New Strong Buy Stocks for January 4th   [Jan-04-18 10:00AM  Zacks]
▶ EPA, four companies reach key Portland Harbor Superfund cleanup deal   [Dec-19-17 08:19PM  American City Business Journals]
▶ Top NasdaqGS Materials Dividend Payers   [Dec-17-17 01:02PM  Simply Wall St.]
▶ Schnitzer Board Declares Quarterly Dividend   [Oct-27-17 04:15PM  Business Wire]
▶ Schnitzer Steel posts 4Q profit   [Oct-24-17 08:53AM  Associated Press]
▶ 5 Stocks in Limelight on New Analyst Coverage   [Sep-20-17 10:49AM  Zacks]

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