Ryerson Holding Co. (NYSE:RYI) - KeyCorp lifted their FY2022 EPS estimates for shares of Ryerson in a report released on Monday, November 22nd. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $2.65 per share for the year, up from their previous forecast of $2.55. Ryerson (NYSE:RYI) last posted its quarterly earnings results on Tuesday, November 2nd. The basic materials company reported $3.25 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $1.50. Ryerson had a return on equity of 68.51% and a net margin of 3.43%. During the same quarter in the previous year, the company posted $0.31 earnings per share.
Separately, Zacks Investment Research upgraded Ryerson from a "hold" rating to a "strong-buy" rating and set a $26.00 target price on the stock in a research report on Tuesday, October 19th.
Shares of RYI opened at $27.14 on Wednesday. The business has a 50-day simple moving average of $24.71 and a two-hundred day simple moving average of $20.13. Ryerson has a 12-month low of $10.63 and a 12-month high of $30.05. The stock has a market cap of $1.04 billion, a PE ratio of 6.17 and a beta of 1.66. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 1.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Towle & Co. grew its holdings in Ryerson by 0.3% during the second quarter. Towle & Co. now owns 1,534,411 shares of the basic materials company's stock valued at $22,402,000 after purchasing an additional 4,440 shares during the period. Bridgeway Capital Management LLC raised its position in Ryerson by 35.2% during the second quarter. Bridgeway Capital Management LLC now owns 481,200 shares of the basic materials company's stock valued at $7,026,000 after purchasing an additional 125,400 shares in the last quarter. Morgan Stanley raised its position in Ryerson by 19.8% during the first quarter. Morgan Stanley now owns 396,880 shares of the basic materials company's stock valued at $6,763,000 after purchasing an additional 65,703 shares in the last quarter. State Street Corp raised its position in Ryerson by 11.3% during the second quarter. State Street Corp now owns 298,585 shares of the basic materials company's stock valued at $4,359,000 after purchasing an additional 30,386 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Ryerson by 2.2% in the third quarter. Geode Capital Management LLC now owns 276,615 shares of the basic materials company's stock worth $6,160,000 after buying an additional 5,824 shares during the period. 92.24% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Monday, November 15th will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.25%. This is an increase from Ryerson's previous quarterly dividend of $0.08. The ex-dividend date is Friday, November 12th. Ryerson's dividend payout ratio (DPR) is presently 7.73%.
Ryerson Company Profile
Ryerson Holding Corp. engages in the processing and distribution of industrial metals. It processes and distributes products in stainless steel, aluminum carbon steel and alloy steels and a limited line of nickel and red metals in various shapes and forms. The firm serves end-markets including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery; and also offers value-added processing and fabrication services such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius.
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