Ryerson Holding Co. (NYSE:RYI) Announces $0.19 Quarterly Dividend

Ryerson Holding Co. (NYSE:RYI) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Thursday, June 6th will be paid a dividend of 0.188 per share by the basic materials company on Thursday, June 20th. This represents a $0.75 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, June 6th.

Ryerson has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings.

Ryerson Stock Down 5.0 %

Shares of RYI traded down $1.23 during trading hours on Thursday, hitting $23.55. The stock had a trading volume of 123,490 shares, compared to its average volume of 221,506. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $31.91 and a 200-day simple moving average of $31.67. The firm has a market capitalization of $801.17 million, a P/E ratio of 9.13 and a beta of 1.69. Ryerson has a 1-year low of $23.01 and a 1-year high of $44.70.

Ryerson (NYSE:RYI) last issued its earnings results on Wednesday, February 21st. The basic materials company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.24 by $0.49. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. Ryerson had a return on equity of 10.28% and a net margin of 1.84%. During the same period last year, the business posted ($0.65) EPS.

Insider Activity at Ryerson

In related news, insider Alagu Sundarrajan sold 7,407 shares of Ryerson stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $32.77, for a total value of $242,727.39. Following the completion of the transaction, the insider now directly owns 13,077 shares in the company, valued at approximately $428,533.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.88% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, BMO Capital Markets dropped their price target on shares of Ryerson from $33.00 to $28.00 and set a “market perform” rating on the stock in a research report on Thursday.

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.