Pay vs Performance Disclosure
Pure in Thousands

12 Months Ended

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

						Average Summary		Average		Value ot Initial Fixed $100 Investment Based On:							Company Selected Measure
Year	Summary Compensation Table Total for PEO		Compensation Actually Paid to PEO			Compensation Table Total for Non-PEO Named Executive Officers		Compensation Actually Paid to Non-PEO Named Executive Officers		Total Shareholder Return		Peer Group Total Shareholder Return		Net Income (in thousands)			EBITDA (in thousands)
(a)	($)(b)		($)(c)(1)(2)			($)(d)		($)(e)(1)(2)		($)(f)(3)		($)(g)(3)		($)(h)			($)(i)
2024		3,868,045		(344,956	)		1,384,597		549,298		191		227		22,980			72,287
2023		2,645,154		6,428,133			1,185,615		1,895,028		384		245		44,529			95,856
2022		3,432,069		4,379,251			1,556,154		1,728,265		192		179		90,931			153,485
2021		3,607,608		4,159,676			1,609,146		1,732,948		132		150		121,051			214,632
2020		898,789		649,625			549,256		423,072		75		107		(5,595	)		18,546

(1)	Richard T. Marabito served as our principal executive officer (“PEO”) for the full year of each of 2024, 2023, 2022, 2021 and 2020. Our non-PEO named executive officers (“NEOs”) included Michael D. Siegal, Andrew S. Greiff, Richard A. Manson and Lisa K. Christen for the full year of each of 2024, 2023, 2022, 2021 and 2020.
(2)	For 2024 the values included in the column for the compensation actually paid to our PEO and the average compensation actually paid to our Non-PEO NEOs reflect the following adjustments to the values included in column (b) and column (d), respectively:

PEO Total Compensation Amount

$ 3,868,045

$ 2,645,154

$ 3,432,069

$ 3,607,608

$ 898,789

PEO Actually Paid Compensation Amount

$ (344,956)

6,428,133

4,379,251

4,159,676

649,625

Adjustment To PEO Compensation, Footnote

Richard T. Marabito		2024
Summary Compensation Table Total for PEO (column (b))		$	3,868,045
-	aggregate change in actuarial present value of pension benefits		-
+	service cost of pension benefits		-
+	prior service cost of pension benefits		-
-	SCT "Stock Awards" column value		(1,100,016	)
-	SCT "Option Awards" column value		-
+	year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end		541,103
+/-	year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end		(931,975	)
+	vesting date fair value of equity awards granted and vested in the covered year		-
+/-	year-over-year change in fair value of equity awards granted in prior years that vested in the covered year-end		(2,722,112	)
-	fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year		-
+	dollar value of dividends/earnings paid on equity awards in the covered year		-
Compensation Actually Paid to PEO (column (c))		$	(344,956	)

Non-PEO NEO Average Total Compensation Amount

$ 1,384,597

1,185,615

1,556,154

1,609,146

549,256

Non-PEO NEO Average Compensation Actually Paid Amount

$ 549,298

1,895,028

1,728,265

1,732,948

423,072

Adjustment to Non-PEO NEO Compensation Footnote

Non PEO Named Executive Officers		2024
Summary Compensation Table Total for Non PEO NEOs (column (d))		$	1,384,597
-	aggregate change in actuarial present value of pension benefits		-
+	service cost of pension benefits		-
+	prior service cost of pension benefits		-
-	SCT "Stock Awards" column value		(318,800	)
-	SCT "Option Awards" column value		-
+	year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end		156,819
+/-	year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end		(328,648	)
+	vesting date fair value of equity awards granted and vested in the covered year		-
+/-	year-over-year change in fair value of equity awards granted in prior years that vested in the covered year-end		(344,670	)
-	fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year		-
+	dollar value of dividends/earnings paid on equity awards in the covered year		-
Compensation Actually Paid to Non PEO NEOs (column (e))		$	549,298

(3)

For each of 2024, 2023, 2022, 2021 and 2020, total shareholder return for the Company and the peer group was calculated as the cumulative total shareholder return based on a deemed fixed investment of $100 at market close on December 31, 2019. The cumulative total shareholder return includes the cumulative amount of dividends for the period from December 31, 2019 through and including the last day of the covered fiscal year (the “Measurement Period”), assuming dividend reinvestment. For purposes of this pay versus performance disclosure, our peer group in 2024 consists of the following entities, which we use as our peer group for purposes of the performance graph in the annual report: Friedman Industries (FRD), Russel Metals, Inc. (RUSMF), Reliance Steel & Aluminum Co. (RS) Ryerson Holding Corp. (RYI), and Kloeckner & Co SE (KCOGN.DE) (the “Peer Group”). For purposes of calculating the Peer Group total shareholder return, the returns of each component issuer of the group were weighted according to the respective issuers’ stock market capitalization at the beginning of the measurement period. Because fiscal years are presented in the table in reverse chronological order (from top to bottom), the table should be read from the bottom to top for purposes of understanding cumulative returns over time.

(4)

Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) (computed without respect to any Last-In-First-Out (“LIFO”) inventory adjustments) is used to calculate the incentives for our most senior executive officers.

Compensation Actually Paid vs. Total Shareholder Return

Pay Versus Performance Relationship Descriptions

The following graphs provide descriptions of the relationships between certain figures included in the Pay Versus Performance table for each of 2024, 2023, 2022, 2021 and 2020, including: (a) a comparison between our cumulative total shareholder return and the cumulative total shareholder return of our Peer Group; and (b) comparisons between (i) the compensation actually paid to the PEO and the average compensation actually paid to our non-PEO NEOs and (ii) each of the performance measures set forth in columns (f), (h), (i) and (j) of the Pay Versus Performance table. For more information on how our compensation is designed to link pay and performance, see the “Compensation Discussion and Analysis” section.

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

^(a) During 2020, the COVID-19 pandemic caused a significant reduction in the Company’s EBITDA. Under the terms of the Senior Manager Cash Incentive Plan, the named executive officers would not have received a payment under the Senior Manager Cash Incentive Plan in 2020, as the Company’s EBITDA did not exceed 5% of average accounts receivable, inventory and fixed assets. Recognizing the extraordinary efforts of the named executive officers during the COVID-19 pandemic, and their willingness to forego salary and participation in certain benefit plans during 2020, and to encourage EBITDA generation during the second half of 2020, the Board modified the terms of the Senior Manager Cash Incentive Plan for named executive officers, for 2020 only. The modification provided for the prorated calculation of incentives based on the EBITDA generated from July 1, 2020 through December 31, 2020. On an annualized basis, the EBITDA earned during the second half of 2020 exceeded 5% of the average accounts receivable, inventory and fixed assets.

Tabular List, Table

The following table lists all of the financial performance measures that we use to link the compensation actually paid to our NEOs for fiscal 2024 to Company performance:

EBITDA ⁽¹⁾

⁽¹⁾ EBITDA is computed as Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) (computed without respect to any Last-In-First-Out (“LIFO”) inventory adjustments.

Total Shareholder Return Amount

$ 191

384

192

132

75

Peer Group Total Shareholder Return Amount

227

245

179

150

107

Net Income (Loss)

$ 22,980,000

$ 44,529,000

$ 90,931,000

$ 121,051,000

$ (5,595,000)

Company Selected Measure Amount

72,287

95,856

153,485

214,632

18,546

Measure:: 1

Pay vs Performance Disclosure

Name

EBITDA

PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 0

PEO | Pension Adjustments Service Cost

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

PEO | Pension Adjustments Prior Service Cost

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

541,103

PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(931,975)

PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(2,722,112)

PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

PEO | Summary Compensation Table Stock Awards Column Value [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(1,100,016)

PEO | Summary Compensation Table Options Awards Column Value [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Pension Adjustments Service Cost

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Pension Adjustments Prior Service Cost

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

156,819

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(328,648)

Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(344,670)

Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Summary Compensation Table Stock Awards Column Value [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(318,800)

Non-PEO NEO | Summary Compensation Table Options Awards Column Value [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 0