Ryerson (NYSE:RYI) Shares Gap Up to $17.88

Shares of Ryerson Holding Co. (NYSE:RYI) gapped up before the market opened on Thursday . The stock had previously closed at $17.88, but opened at $18.45. Ryerson shares last traded at $18.26, with a volume of 15,697 shares traded.

Ryerson Trading Down 0.5 %

The firm has a market cap of $623.54 million, a P/E ratio of 7.08 and a beta of 1.56. The company has a quick ratio of 1.11, a current ratio of 2.38 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $20.46 and its 200-day moving average is $24.77.

Ryerson (NYSE:RYI) last issued its earnings results on Tuesday, July 30th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.20 by $0.13. The company had revenue of $1.23 billion during the quarter. Ryerson had a return on equity of 7.27% and a net margin of 1.31%. During the same quarter in the previous year, the business posted $1.06 EPS.

Ryerson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $0.188 dividend. This represents a $0.75 annualized dividend and a yield of 4.14%. The ex-dividend date is Thursday, September 5th. Ryerson’s dividend payout ratio (DPR) is 29.07%.

Institutional Trading of Ryerson

Several hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new position in shares of Ryerson during the second quarter valued at $39,000. SG Americas Securities LLC acquired a new position in Ryerson during the 1st quarter valued at about $139,000. Point72 DIFC Ltd increased its stake in Ryerson by 16.7% during the 2nd quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock valued at $114,000 after buying an additional 837 shares during the period. Comerica Bank raised its position in shares of Ryerson by 2,177.4% during the 1st quarter. Comerica Bank now owns 6,855 shares of the basic materials company’s stock worth $230,000 after buying an additional 6,554 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Ryerson by 5.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 7,491 shares of the basic materials company’s stock worth $251,000 after acquiring an additional 355 shares during the period. Institutional investors 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.