Ryerson (NYSE:RYI) Shares Gap Down After Earnings Miss

Ryerson Holding Corporation (NYSE:RYI)’s share price gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $21.80, but opened at $20.14. Ryerson shares last traded at $20.21, with a volume of 50,021 shares.

The basic materials company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.09). The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Ryerson had a negative return on equity of 1.72% and a negative net margin of 0.33%.

Ryerson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Thursday, September 4th. Ryerson’s dividend payout ratio (DPR) is -340.91%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Ryerson from a “buy” rating to a “hold” rating in a research report on Friday, May 9th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG raised its position in shares of Ryerson by 74.3% during the 4th quarter. Deutsche Bank AG now owns 29,090 shares of the basic materials company’s stock worth $538,000 after purchasing an additional 12,403 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Ryerson by 10.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,927 shares of the basic materials company’s stock valued at $366,000 after acquiring an additional 1,495 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ryerson by 2,147.9% in the 1st quarter. GAMMA Investing LLC now owns 27,896 shares of the basic materials company’s stock valued at $640,000 after acquiring an additional 26,655 shares during the last quarter. SG Americas Securities LLC acquired a new position in Ryerson in the 1st quarter valued at $286,000. Finally, Millennium Management LLC raised its holdings in Ryerson by 48.3% in the 4th quarter. Millennium Management LLC now owns 57,600 shares of the basic materials company’s stock valued at $1,066,000 after acquiring an additional 18,748 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

Ryerson Price Performance

The company has a fifty day simple moving average of $21.93 and a two-hundred day simple moving average of $22.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.00. The company has a market capitalization of $674.91 million, a price-to-earnings ratio of -46.58 and a beta of 1.54.

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.