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

Ryerson Holding Co. (NYSE:RYI) shares gapped up prior to trading on Friday following a better than expected earnings announcement. 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.

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

Ryerson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.97%. Ryerson’s payout ratio is 122.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in Ryerson by 11.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,455 shares of the basic materials company’s stock valued at $305,000 after acquiring an additional 1,734 shares during the period. Barclays PLC boosted its position in shares of Ryerson by 3.5% during the fourth quarter. Barclays PLC now owns 57,280 shares of the basic materials company’s stock worth $1,061,000 after buying an additional 1,950 shares during the period. Mutual Advisors LLC boosted its position in shares of Ryerson by 5.0% during the fourth quarter. Mutual Advisors LLC now owns 44,865 shares of the basic materials company’s stock worth $830,000 after buying an additional 2,140 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Ryerson by 9.4% during the fourth quarter. Hantz Financial Services Inc. now owns 30,067 shares of the basic materials company’s stock worth $557,000 after buying an additional 2,590 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Ryerson by 19.5% during the fourth quarter. Wells Fargo & Company MN now owns 16,821 shares of the basic materials company’s stock worth $311,000 after buying an additional 2,749 shares during the period. 94.81% of the stock is owned by institutional investors and hedge funds.

Ryerson Stock Up 10.2 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.22 and a quick ratio of 1.06. The company has a market capitalization of $805.65 million, a price-to-earnings ratio of 41.69 and a beta of 1.59. The firm has a 50-day moving average price of $20.68 and a two-hundred day moving average price of $21.13.

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.