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Ryerson Holdings (NYSE: RYI)-KeyCorp raised their earnings per share forecast for Ryerson's stock for the 2022 fiscal year in a report released on Monday, November 22. KeyCorp analyst P. Gibbs now predicts that the basic materials company's earnings per share this year will be $2.65, higher than the previous forecast of $2.55. Ryerson (NYSE:RYI) last released its quarterly earnings results on Tuesday, November 2. The basic materials company reported earnings per share of US$3.25 for the quarter, US$1.50 higher than analysts’ consensus estimate of US$1.75. Ryerson’s return on equity was 68.51% and net profit margin was 3.43%. In the same period last year, the company announced earnings per share of $0.31.

In addition, Zacks Investment Research upgraded Ryerson’s rating from a “hold” rating to a “strong buy” rating in a research report on Tuesday, October 19, and set a target price of $26.00 for the stock .

RYI's stock price opened at $27.14 on Wednesday. The 50-day simple moving average of this business is 24.71 US dollars, and the two-hundred-day simple moving average is 20.13 US dollars. Ryerson's 12-month low is $10.63 and the 12-month high is $30.05. The stock has a market capitalization of US$1.04 billion, a price-to-earnings ratio of 6.17, and a beta of 1.66. The company's quick ratio is 0.94, current ratio is 1.90, and debt-to-equity ratio is 1.50.

Many hedge funds and other institutional investors have recently changed their positions in the business. Towle & Co.'s holdings in Ryerson increased by 0.3% in the second quarter. After purchasing an additional 4,440 shares during this period, Towle & Co. now owns 1,534,411 shares of Basic Materials Company, valued at $22,402,000. Bridgeway Capital Management LLC increased its position in Ryerson by 35.2% in the second quarter. After purchasing an additional 125,400 shares last quarter, Bridgeway Capital Management LLC now owns 481,200 shares of the basic materials company, valued at $7,026,000. Morgan Stanley increased its position in Ryerson by 19.8% in the first quarter. After purchasing an additional 65,703 shares last quarter, Morgan Stanley now owns 396,880 shares of the basic materials company, valued at $6,763,000. State Street Corp increased its position in Ryerson by 11.3% in the second quarter. After purchasing an additional 30,386 shares last quarter, State Street now owns 298,585 shares of the basic materials company, valued at $4,359,000. Finally, Geode Capital Management LLC increased its holdings of Ryerson shares by 2.2% in the third quarter. During this period, Geode Capital Management LLC now owns 276,615 shares of basic materials company, valued at $6,160,000, and purchased an additional 5,824 shares during this period. 92.24% of stocks are held by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 16. The record investor on Monday, November 15 will receive a dividend of $0.085 per share. This represents an annual dividend of $0.34 and a dividend yield of 1.25%. This is an increase from Ryerson’s previous quarter’s dividend of $0.08. The ex-dividend date is Friday, November 12. Ryerson's dividend payout ratio (DPR) is currently 7.73%.

Ryerson Holding Corp. is engaged in the processing and distribution of industrial metals. It processes and distributes stainless steel, aluminum carbon steel and alloy steel, as well as a limited series of nickel and red metal products in various shapes and forms. The end markets served by the company include oil and gas, industrial equipment, transportation equipment, heavy equipment and motors; and provide value-added processing and manufacturing services, such as sawing, slitting, blanking, cut to length, leveling, flame cutting, Laser cutting, trimming, piping, roll forming, pipe manufacturing, polishing, shearing, forming, stamping, stamping, rolling the shell plate to the radius.

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