Ryerson (NYSE:RYI) Shares Gap Up on Strong Earnings

Ryerson Holding Co. (NYSE:RYI)’s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $22.95, but opened at $25.36. Ryerson shares last traded at $25.57, with a volume of 68,631 shares changing hands.

The basic materials company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.34. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Ryerson had a net margin of 0.46% and a return on equity of 2.66%.

Ryerson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.75 dividend on an annualized basis and a yield of 3.09%. Ryerson’s dividend payout ratio is presently 122.95%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new position in Ryerson in the fourth quarter valued at $54,000. Tower Research Capital LLC TRC increased its stake in Ryerson by 488.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 3,061 shares during the last quarter. SG Americas Securities LLC bought a new position in Ryerson in the third quarter valued at $108,000. FMR LLC increased its stake in Ryerson by 159.7% in the third quarter. FMR LLC now owns 7,649 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 4,704 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Ryerson in the third quarter valued at $202,000. Institutional investors own 94.81% of the company’s stock.

Ryerson Trading Up 5.6 %

The firm’s 50-day simple moving average is $20.68 and its 200-day simple moving average is $21.13. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $772.04 million, a PE ratio of 39.74 and a beta of 1.59.

Ryerson Company Profile

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.