Ryerson Holding Co. (NYSE:RYI) to Post Q3 2022 Earnings of $2.47 Per Share, KeyCorp Forecasts

Ryerson Holding Co. (NYSE:RYIGet Rating) – Equities research analysts at KeyCorp dropped their Q3 2022 earnings per share (EPS) estimates for shares of Ryerson in a research report issued on Tuesday, September 20th. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $2.47 per share for the quarter, down from their prior estimate of $2.50. The consensus estimate for Ryerson’s current full-year earnings is $12.60 per share. KeyCorp also issued estimates for Ryerson’s FY2022 earnings at $13.00 EPS.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets reissued an “outperform” rating and issued a $35.00 price target on shares of Ryerson in a report on Monday, August 15th. StockNews.com upgraded Ryerson from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 12th.

Ryerson Price Performance

RYI opened at $25.84 on Thursday. Ryerson has a 12-month low of $17.90 and a 12-month high of $44.09. The business’s fifty day simple moving average is $27.72 and its 200-day simple moving average is $29.94. The company has a market capitalization of $957.50 million, a price-to-earnings ratio of 1.95 and a beta of 1.72. The company has a current ratio of 2.15, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60.

Ryerson (NYSE:RYIGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The basic materials company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.73. Ryerson had a return on equity of 95.50% and a net margin of 7.82%. The business had revenue of $1.74 billion for the quarter.

Institutional Trading of Ryerson

Several institutional investors have recently bought and sold shares of the business. Northern Trust Corp boosted its stake in shares of Ryerson by 3.2% in the fourth quarter. Northern Trust Corp now owns 223,609 shares of the basic materials company’s stock worth $5,825,000 after acquiring an additional 6,956 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Ryerson by 312.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 15,248 shares of the basic materials company’s stock worth $397,000 after acquiring an additional 11,548 shares during the last quarter. Bank of Montreal Can acquired a new position in Ryerson during the fourth quarter worth $1,863,000. GSA Capital Partners LLP boosted its stake in Ryerson by 9.0% during the fourth quarter. GSA Capital Partners LLP now owns 13,354 shares of the basic materials company’s stock worth $348,000 after buying an additional 1,101 shares during the last quarter. Finally, Navellier & Associates Inc. boosted its stake in Ryerson by 90.4% during the fourth quarter. Navellier & Associates Inc. now owns 24,566 shares of the basic materials company’s stock worth $640,000 after buying an additional 11,663 shares during the last quarter. 93.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ryerson

In related news, CEO Edward J. Lehner sold 7,500 shares of Ryerson stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $31.10, for a total transaction of $233,250.00. Following the completion of the transaction, the chief executive officer now directly owns 515,776 shares in the company, valued at $16,040,633.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.66% of the stock is owned by company insiders.

Ryerson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.15 per share. This is a boost from Ryerson’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Wednesday, August 31st. Ryerson’s dividend payout ratio (DPR) is currently 4.53%.

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.

See Also

Earnings History and Estimates for Ryerson (NYSE:RYI)

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