Ryerson Holding Co. (RYI) to Issue Quarterly Dividend of $0.19 on March 20th

Ryerson Holding Co. (NYSE:RYI) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Thursday, March 6th will be given a dividend of 0.1875 per share by the basic materials company on Thursday, March 20th. This represents a $0.75 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Thursday, March 6th.

Ryerson has increased its dividend payment by an average of 65.7% annually over the last three years. Ryerson has a dividend payout ratio of 45.7% indicating that its dividend is sufficiently covered by earnings.

Ryerson Stock Performance

NYSE:RYI opened at $24.67 on Tuesday. Ryerson has a twelve month low of $17.18 and a twelve month high of $34.65. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $21.27 and a 200-day moving average of $21.46. The firm has a market cap of $785.89 million, a price-to-earnings ratio of -94.90 and a beta of 1.59.

Ryerson (NYSE:RYI) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.34. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Analysts forecast that Ryerson will post 1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ryerson news, CFO James J. Claussen sold 6,017 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $25.30, for a total value of $152,230.10. Following the completion of the transaction, the chief financial officer now directly owns 58,773 shares in the company, valued at $1,486,956.90. This trade represents a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.88% of the company’s stock.

Analyst Ratings Changes

Separately, BMO Capital Markets raised their target price on shares of Ryerson from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Monday, February 24th.

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.