Ryerson Holding Co. (NYSE:RYI) Plans Quarterly Dividend of $0.15

Ryerson Holding Co. (NYSE:RYIGet Rating) declared a quarterly dividend on Wednesday, August 3rd, Zacks reports. Stockholders of record on Thursday, September 1st will be paid a dividend of 0.15 per share by the basic materials company on Thursday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Wednesday, August 31st. This is an increase from Ryerson’s previous quarterly dividend of $0.13.

Ryerson has a dividend payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ryerson to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 20.4%.

Ryerson Stock Up 0.3 %

NYSE RYI traded up $0.08 on Friday, reaching $26.41. The company had a trading volume of 1,009 shares, compared to its average volume of 264,050. The stock has a market capitalization of $1.02 billion, a P/E ratio of 2.01 and a beta of 1.76. The company’s fifty day moving average is $25.15 and its 200 day moving average is $28.56. Ryerson has a 52-week low of $17.01 and a 52-week high of $44.09. The company has a quick ratio of 1.08, a current ratio of 2.05 and a debt-to-equity ratio of 0.75.

Ryerson (NYSE:RYIGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.35. The business had revenue of $1.75 billion during the quarter. Ryerson had a return on equity of 107.92% and a net margin of 7.82%. During the same period in the previous year, the company posted $0.26 earnings per share. Sell-side analysts anticipate that Ryerson will post 11.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ryerson

Large investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position in shares of Ryerson by 57.6% during the 1st quarter. Bank of America Corp DE now owns 26,204 shares of the basic materials company’s stock valued at $918,000 after purchasing an additional 9,576 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Ryerson by 101.5% during the 1st quarter. Prudential Financial Inc. now owns 19,370 shares of the basic materials company’s stock valued at $679,000 after purchasing an additional 9,755 shares during the last quarter. UBS Group AG increased its position in shares of Ryerson by 142.9% during the 1st quarter. UBS Group AG now owns 14,812 shares of the basic materials company’s stock valued at $519,000 after purchasing an additional 8,715 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Ryerson during the 1st quarter valued at $411,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Ryerson by 15.1% during the 1st quarter. Allianz Asset Management GmbH now owns 10,885 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 1,426 shares during the period. 91.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Ryerson from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

About Ryerson

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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 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.

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Dividend History for Ryerson (NYSE:RYI)

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