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 trading hands.

Ryerson Price Performance

The firm has a market cap of $628.97 million, a P/E ratio of 7.34 and a beta of 1.56. The business’s fifty day simple moving average is $20.42 and its 200-day simple moving average is $24.63. The company has a current ratio of 2.38, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

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

Ryerson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, September 5th. Ryerson’s dividend payout ratio is currently 29.07%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RYI. Newbridge Financial Services Group Inc. purchased a new position in shares of Ryerson in the second quarter valued at about $39,000. Point72 Asset Management L.P. increased its holdings in Ryerson by 218.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 12,749 shares of the basic materials company’s stock valued at $249,000 after purchasing an additional 8,749 shares during the period. The Manufacturers Life Insurance Company raised its position in Ryerson by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,626 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 1,157 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Ryerson in the 2nd quarter worth approximately $882,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Ryerson by 6.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 50,462 shares of the basic materials company’s stock worth $984,000 after buying an additional 3,248 shares during the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.