KeyBanc Capital Markets Initiates Schnitzer Steel Coverage: Hold

KeyBanc Capital Markets initiated Schnitzer Steel

coverage with a Hold rating in a research report published today. In the report, KeyBanc Capital Markets stated, "We view Schnitzer as a high-quality metallics company and we are positively disposed to SCHN's geographic exposure, strong balance sheet and cash flow persistence, recent increase to the dividend (1.9% annual yield from 0.20%), M&A growth strategy and attractive deep valuation metrics." Shares of Schnitzer Steel closed today at $39.87, down 0.10% from Friday's market close.