Ryerson (NYSE:RYZ) Announces Earnings Results, Beats Expectations By $0.22 EPS

Ryerson (NYSE:RYZ) announced its earnings results on Wednesday. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.22, FiscalAI reports. Ryerson had a net margin of 0.21% and a return on equity of 3.64%. The company had revenue of $2.18 billion during the quarter.

Ryerson Price Performance

Shares of Ryerson stock traded down $0.28 on Friday, reaching $30.72. 258,963 shares of the stock were exchanged, compared to its average volume of 471,366. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 2.21. The firm has a market cap of $1.59 billion, a PE ratio of -180.09 and a beta of 1.59. The firm’s 50 day moving average is $25.83 and its 200-day moving average is $26.40. Ryerson has a one year low of $19.34 and a one year high of $32.00.

Ryerson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, December 3rd. Ryerson’s dividend payout ratio is -60.48%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RYZ. Weiss Ratings restated a “sell (d+)” rating on shares of Ryerson in a report on Monday, September 14th. Wall Street Zen upgraded shares of Ryerson from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Zacks Research upgraded Ryerson from a “hold” rating to a “strong-buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Ryerson

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Ryerson in the 2nd quarter valued at approximately $120,378,000. Platinum Equity Advisors LLC DE bought a new stake in shares of Ryerson in the 2nd quarter valued at about $96,581,404. JB Capital Partners LP acquired a new stake in shares of Ryerson in the second quarter valued at about $69,869,242. State Street Corp bought a new position in shares of Ryerson during the second quarter worth about $54,285,000. Finally, Donald Smith & CO. Inc. acquired a new position in shares of Ryerson in the second quarter worth approximately $49,036,000. 94.81% of the stock is currently owned by institutional investors.

About Ryerson

Ryerson Holding Corporation is a value-added processor and distributor of industrial metals. The company supplies carbon steel, stainless steel, aluminum, nickel, and copper products to manufacturers and other industrial customers, offering materials in forms such as sheets, plates, coils, bars, tubes, and structural products.

In addition to distributing metals, Ryerson provides processing and fabrication services designed to prepare materials for customer specifications. These services include cutting, slitting, sawing, forming, machining, and other methods that help customers manage their material requirements and supply chains.

Founded in Chicago in 1842 by Joseph T.