Ryerson Holding Corporation Plans Quarterly Dividend of $0.19 (NYSE:RYI)

Key Points

• Ryerson Holding Corporation declared a quarterly dividend of $0.19 per share, with a yield of 3.45%, to be paid on September 18th to stockholders of record as of September 4th.
• The company reported earnings per share of $0.08 for the latest quarter, falling short of the expected $0.17, while its revenue met forecasts at $1.17 billion.
• In recent analyst ratings, Wall Street Zen downgraded Ryerson from a "buy" to a "hold," reflecting a cautious outlook on the stock.

Ryerson Holding Corporation (NYSE:RYI - Get Free Report) declared a quarterly dividend on Tuesday, July 29th, RTT News reports. Stockholders of record on Thursday, September 4th will be paid a dividend of 0.1875 per share by the basic materials company on Thursday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, September 4th.

Ryerson has a dividend payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings.

Ryerson Stock Up 0.0%

Shares of Ryerson stock traded up $0.01 during trading on Friday, reaching $20.61. 276,091 shares of the company traded hands, compared to its average volume of 270,693. The firm has a market capitalization of $663.64 million, a PE ratio of -45.80 and a beta of 1.56. Ryerson has a 1-year low of $17.18 and a 1-year high of $27.41. The company has a 50 day moving average price of $21.92 and a 200-day moving average price of $22.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.03 and a quick ratio of 1.00.

Ryerson (NYSE:RYI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). Ryerson had a negative return on equity of 1.72% and a negative net margin of 0.33%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. As a group, equities research analysts expect that Ryerson will post 1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RYI. Kingstone Capital Partners Texas LLC purchased a new position in Ryerson during the second quarter valued at $28,377,000. Franklin Resources Inc. lifted its position in Ryerson by 85.8% during the 4th quarter. Franklin Resources Inc. now owns 2,329,803 shares of the basic materials company's stock valued at $43,125,000 after acquiring an additional 1,075,963 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ryerson by 98.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,396,185 shares of the basic materials company's stock worth $32,057,000 after acquiring an additional 691,737 shares in the last quarter. Frontier Capital Management Co. LLC bought a new position in shares of Ryerson during the fourth quarter valued at approximately $6,255,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ryerson by 17.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,190,988 shares of the basic materials company's stock worth $27,345,000 after purchasing an additional 176,878 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company's stock.

Ryerson Company Profile

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States and internationally. It offers a line of products in carbon steel, stainless steel, alloy steels, and aluminum, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural, and tubing.