Ryerson Holding Co. (NYSE: RYI) Declares Dividend Increase – $0.16 Per Share

Ryerson Holding Co. (NYSE:RYI – Get Rating) announced a quarterly dividend on Wednesday, November 2, Zacks reports. Shareholders of record on Thursday, December 1 will receive a dividend of 0.16 per share from the basic materials company on Thursday, December 15. This represents an annualized dividend of $0.64 and a dividend yield of 2.62%. The ex-date of this dividend is Wednesday, November 30. This is an increase from Ryerson’s previous quarterly dividend of $0.15.

Ryerson has a dividend payout ratio of 18.3%, which means its dividend is sufficiently covered by earnings. Stock analysts expect Ryerson to earn $2.75 per share next year, meaning the company should continue to be able to cover its $0.60 annual dividend with a future payout ratio. forecast of 21.8%.

Ryerson Price Performance

Ryerson’s stock opened at $24.42 on Friday. The company has a fifty-day simple moving average of $29.19 and a 200-day simple moving average of $28.71. Ryerson has a 12 month low of $17.90 and a 12 month high of $44.09. The company has a current ratio of 2.15, a quick ratio of 1.00 and a debt ratio of 0.60. The stock has a market capitalization of $905.01 million, a P/E ratio of 1.82 and a beta of 1.76.

Ryerson (NYSE:RYI – Get Rating) last reported quarterly results on Wednesday, August 3. The basic materials company reported EPS of $5.31 for the quarter, beating the consensus estimate of $4.58 by $0.73. Ryerson had a net margin of 7.82% and a return on equity of 95.50%. The company had revenue of $1.74 billion for the quarter. Stock analysts expect Ryerson to post 13 EPS for the current fiscal year.

Analysts set new price targets

Several equity research analysts have recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a price target of $35.00 on Ryerson shares in a Monday, August 15 research note. StockNews.com downgraded Ryerson shares from a “strong buy” rating to a “buy” rating in a research note on Thursday.

Insider Buying and Selling at Ryerson

In other Ryerson news, CEO Edward J. Lehner sold 7,500 Ryerson shares in a trade on Friday August 19th. The shares were sold at an average price of $31.10, for a total value of $233,250.00. As a result of the transaction, the CEO now directly owns 515,776 shares of the company, valued at $16,040,633.60. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. 2.66% of the shares are currently held by insiders of the company.

Institutional entries and exits

A number of institutional investors have been buying and selling shares of RYI recently. State Street Corp increased its stake in Ryerson by 204.1% in the first quarter. State Street Corp now owns 925,521 shares of the basic materials company valued at $32,412,000 after purchasing an additional 621,219 shares during the period. Millennium Management LLC increased its stake in Ryerson shares by 128.4% during the second quarter. Millennium Management LLC now owns 588,135 shares of the basic materials company worth $12,521,000 after acquiring an additional 330,600 shares during the period. Goldman Sachs Group Inc. increased its stake in Ryerson shares by 377.9% during the second quarter. Goldman Sachs Group Inc. now owns 307,803 shares of the basic materials company worth $6,553,000 after acquiring an additional 243,398 shares during the period. Prudential Financial Inc. increased its stake in Ryerson shares by 1,118.2% during the second quarter. Prudential Financial Inc. now owns 235,970 shares of the basic materials company worth $5,025,000 after acquiring an additional 216,600 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in Ryerson shares by 275.6% during the second quarter. Cubist Systematic Strategies LLC now owns 205,471 shares of the basic materials company worth $4,374,000 after acquiring an additional 150,773 shares during the period. 93.22% of the shares are currently held by institutional investors and hedge funds.

Ryerson Company Profile

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Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico and China. It offers a range of products in carbon steel, stainless steel, alloy steels and aluminum, as well as nickel and red metals in various shapes and forms, including coil, sheet, round, hexagon , square and flat bars, plates, structures, and tube.

Further reading

Ryerson (NYSE:RYI) Dividend History

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