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Sep 25, 2023

Q3 2023 EPS Estimates for Ryerson Holding Co. Cut by KeyCorp (NYSE:RYI)

Ryerson Holding Co. (NYSE:RYI - Free Report) - Equities research analysts at KeyCorp reduced their Q3 2023 earnings per share (EPS) estimates for Ryerson in a report issued on Tuesday, August 1st.

Ryerson Holding Co. (NYSE:RYI - Free Report) - Equities research analysts at KeyCorp reduced their Q3 2023 earnings per share (EPS) estimates for Ryerson in a report issued on Tuesday, August 1st. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $0.40 per share for the quarter, down from their prior forecast of $1.03. The consensus estimate for Ryerson's current full-year earnings is $4.30 per share. KeyCorp also issued estimates for Ryerson's Q4 2023 earnings at $0.54 EPS and FY2023 earnings at $3.30 EPS.

RYI has been the topic of a number of other research reports. StockNews.com lowered Ryerson from a "buy" rating to a "hold" rating in a research note on Wednesday. BMO Capital Markets lowered their price objective on Ryerson from $45.00 to $40.00 and set a "market perform" rating on the stock in a research note on Wednesday. Finally, TheStreet raised Ryerson from a "c+" rating to a "b-" rating in a research note on Thursday, April 6th.

Check Out Our Latest Analysis on RYI

Shares of NYSE:RYI opened at $32.59 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.19 and a quick ratio of 1.12. The business's 50 day moving average price is $39.78 and its 200-day moving average price is $37.79. The firm has a market capitalization of $1.12 billion, a PE ratio of 10.38 and a beta of 1.76. Ryerson has a 1 year low of $23.63 and a 1 year high of $44.70.

Ryerson (NYSE:RYI - Get Free Report) last issued its quarterly earnings results on Monday, May 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.25. The firm had revenue of $1.41 billion for the quarter. Ryerson had a return on equity of 13.12% and a net margin of 2.08%.

Several large investors have recently bought and sold shares of RYI. State Street Corp increased its holdings in Ryerson by 204.1% during the 1st quarter. State Street Corp now owns 925,521 shares of the basic materials company's stock worth $32,412,000 after purchasing an additional 621,219 shares during the period. Franklin Resources Inc. purchased a new position in shares of Ryerson in the 1st quarter valued at about $20,697,000. Ameriprise Financial Inc. increased its holdings in shares of Ryerson by 1,511.5% in the 1st quarter. Ameriprise Financial Inc. now owns 492,406 shares of the basic materials company's stock valued at $17,914,000 after acquiring an additional 461,850 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Ryerson by 128.4% in the 2nd quarter. Millennium Management LLC now owns 588,135 shares of the basic materials company's stock valued at $12,521,000 after acquiring an additional 330,600 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Ryerson by 377.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 307,803 shares of the basic materials company's stock valued at $6,553,000 after acquiring an additional 243,398 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company's stock.

In related news, major shareholder Platinum Equity, Llc sold 4,000,000 shares of the business's stock in a transaction on Monday, May 8th. The stock was sold at an average price of $36.52, for a total value of $146,080,000.00. Following the sale, the insider now owns 7,924,478 shares in the company, valued at approximately $289,401,936.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.56% of the company's stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be paid a $0.1825 dividend. This represents a $0.73 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, August 30th. This is a positive change from Ryerson's previous quarterly dividend of $0.18. Ryerson's dividend payout ratio is 22.93%.

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.

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