Ryerson (NYSE:RYZ) Announces Quarterly Earnings Results

Ryerson (NYSE:RYZ) released its quarterly earnings results on Wednesday. The company reported $0.52 earnings per share for the quarter, FiscalAI reports. Ryerson had a negative return on equity of 3.43% and a negative net margin of 0.93%.The company had revenue of $2.01 billion during the quarter.

Ryerson Stock Down 7.4%

Shares of RYZ stock traded down $2.30 during mid-day trading on Wednesday, hitting $28.73. 388,592 shares of the company’s stock were exchanged, compared to its average volume of 468,112. The company has a 50-day simple moving average of $27.68. Ryerson has a fifty-two week low of $19.34 and a fifty-two week high of $32.00. The stock has a market capitalization of $1.49 billion, a PE ratio of -19.41 and a beta of 1.67. The company has a current ratio of 2.21, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70.

Ryerson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, June 4th. Ryerson’s dividend payout ratio is currently -50.68%.

Insider Transactions at Ryerson

In other Ryerson news, EVP Mark S. Silver sold 11,174 shares of Ryerson stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $27.91, for a total value of $311,866.34. Following the completion of the sale, the executive vice president owned 120,181 shares in the company, valued at $3,354,251.71. The trade was a 8.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Molly D. Kannan sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the transaction, the chief accounting officer directly owned 24,636 shares of the company’s stock, valued at approximately $739,080. This represents a 3.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 17,674 shares of company stock worth $492,576. 6.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryerson in a research note on Thursday, June 18th. Wall Street Zen lowered shares of Ryerson from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Zacks Research cut shares of Ryerson from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About Ryerson

Ryerson (NYSE: RYZ) is a U.S.-based metals distributor and processor that supplies a broad range of metal products and value-added services to industrial customers. Its product mix typically includes carbon steel, stainless steel, aluminum and specialty alloys in forms such as sheets, plate, bar, tubing and structural shapes. The company focuses on meeting the material needs of manufacturers, fabricators and other industrial end markets.

Beyond distribution, Ryerson offers processing and finishing services designed to prepare metal for downstream manufacturing.