Ryerson Holding Corporation to Issue 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) announced a quarterly dividend on Tuesday, July 29th, RTT News reports. Investors of record on Thursday, September 4th will be given 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 of this dividend 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 0.3%

NYSE:RYI traded up $0.07 during mid-day trading on Friday, hitting $20.67. The stock had a trading volume of 31,117 shares, compared to its average volume of 234,300. Ryerson has a twelve month low of $17.18 and a twelve month high of $27.41. The stock has a 50-day simple moving average of $21.92 and a two-hundred day simple moving average of $22.28. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $665.41 million, a PE ratio of -46.12 and a beta of 1.54.

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

Institutional Investors Weigh In On Ryerson

Institutional investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new position in Ryerson in the fourth quarter valued at approximately $583,000. JPMorgan Chase & Co. raised its stake in Ryerson by 11.0% during the 4th quarter. JPMorgan Chase & Co. now owns 179,422 shares of the basic materials company's stock worth $3,321,000 after acquiring an additional 17,771 shares in the last quarter. Franklin Resources Inc. lifted its position in Ryerson by 85.8% in the fourth 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 last quarter. Wells Fargo & Company MN lifted its position in Ryerson by 19.5% in the fourth quarter. Wells Fargo & Company MN now owns 16,821 shares of the basic materials company's stock valued at $311,000 after acquiring an additional 2,749 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Ryerson by 6.0% in the fourth quarter. Russell Investments Group Ltd. now owns 122,371 shares of the basic materials company's stock valued at $2,265,000 after acquiring an additional 6,959 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company's stock.

About Ryerson

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.