State Street Corp Makes New Investment in Ryerson Holding $RYZ

Key Points

• State Street acquired 2.21 million Ryerson shares worth approximately $54.3 million, giving it a 4.25% stake. Institutional investors now own 94.81% of the company, following several other large purchases during the second quarter.
• Analyst sentiment remains cautious: Ryerson has a consensus rating of “Reduce”, with two Hold ratings and one Sell rating despite some recent upgrades.
• Ryerson reported quarterly EPS of $0.52, beating the $0.40 consensus estimate, while revenue reached $2.01 billion. The company also pays a quarterly dividend of $0.1875, equivalent to a 3.2% annual yield.

State Street Corp bought a new stake in shares of Ryerson Holding (NYSE:RYZ - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,205,813 shares of the company's stock, valued at approximately $54,285,000. State Street Corp owned about 4.25% of Ryerson as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new position in Ryerson in the 2nd quarter worth about $120,378,000. Platinum Equity Advisors LLC DE acquired a new stake in Ryerson during the 2nd quarter worth about $96,581,404. JB Capital Partners LP purchased a new stake in Ryerson during the second quarter valued at about $69,869,242. Donald Smith & CO. Inc. purchased a new stake in Ryerson during the second quarter valued at about $49,036,000. Finally, Aegis Financial Corp purchased a new stake in Ryerson during the second quarter valued at about $27,489,000. 94.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RYZ has been the topic of a number of recent analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Ryerson in a report on Monday, September 14th. Wall Street Zen raised shares of Ryerson from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Zacks Research raised shares of Ryerson from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ryerson has a consensus rating of "Reduce".

Ryerson Trading Down 0.6%

NYSE:RYZ opened at $23.65 on Friday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -19.08 and a beta of 1.57. Ryerson Holding has a 1-year low of $19.34 and a 1-year high of $32.00. The company has a quick ratio of 1.04, a current ratio of 2.21 and a debt-to-equity ratio of 0.73. The company's fifty day simple moving average is $26.69.

Ryerson (NYSE:RYZ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. Ryerson had a negative return on equity of 0.62% and a negative net margin of 0.56%.The firm had revenue of $2.01 billion during the quarter. Ryerson has set its Q3 2026 guidance at 0.370-0.400 EPS. Equities analysts forecast that Ryerson Holding will post 1.1 earnings per share for the current year.

Ryerson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, September 3rd. Ryerson's dividend payout ratio is -60.48%.

About Ryerson

Ryerson Holding Corporation is a metals service and distribution company that supplies industrial customers with carbon steel, stainless steel, aluminum, nickel and other specialty metals. The company provides a broad range of products in forms such as sheet, plate, bar, tube and coil, serving manufacturers and other businesses that use metals in their operations.

In addition to distributing metals, Ryerson offers value-added processing services, including cutting, forming, slitting, machining and other material preparation.

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