KeyCorp Comments on Ryerson's FY2024 Earnings (NYSE:RYI)

Ryerson Holding Co. (NYSE:RYI - Free Report) - Stock analysts at KeyCorp issued their FY2024 earnings estimates for Ryerson in a research note issued on Tuesday, January 21st. KeyCorp analyst P. Gibbs expects that the basic materials company will post earnings per share of ($0.45) for the year.

Ryerson Stock Up 5.7 %

Shares of NYSE RYI traded up $1.17 during midday trading on Friday, reaching $21.70. The company's stock had a trading volume of 209,292 shares, compared to its average volume of 221,346. Ryerson has a fifty-two week low of $17.18 and a fifty-two week high of $36.15. The stock has a 50 day simple moving average of $21.58 and a 200-day simple moving average of $21.15. The stock has a market capitalization of $691.02 million, a price-to-earnings ratio of 35.57 and a beta of 1.59. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Ryerson (NYSE:RYI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.26). The business had revenue of $1.13 billion during the quarter. Ryerson had a return on equity of 2.66% and a net margin of 0.46%. During the same period in the prior year, the business earned $1.00 EPS.

Ryerson Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, December 5th. Ryerson's payout ratio is 122.95%.

Insider Activity at Ryerson

In other news, EVP Mark S. Silver sold 9,000 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $24.56, for a total transaction of $221,040.00. Following the transaction, the executive vice president now directly owns 107,664 shares in the company, valued at $2,644,227.84. The trade was a 7.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryerson

A number of institutional investors have recently bought and sold shares of RYI. Victory Capital Management Inc. grew its position in shares of Ryerson by 164.8% in the third quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company's stock valued at $22,906,000 after purchasing an additional 715,990 shares during the last quarter. Bank of Montreal Can acquired a new position in Ryerson in the 2nd quarter valued at $5,372,000. Charles Schwab Investment Management Inc. increased its position in Ryerson by 31.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company's stock worth $16,874,000 after buying an additional 203,314 shares during the period. JB Capital Partners LP lifted its holdings in shares of Ryerson by 4.0% during the third quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company's stock worth $42,430,000 after buying an additional 82,313 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Ryerson by 34.1% in the second quarter. Renaissance Technologies LLC now owns 278,600 shares of the basic materials company's stock valued at $5,433,000 after acquiring an additional 70,901 shares during the period. Institutional investors and hedge funds own 94.81% of the company's stock.

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.