Ryerson Holdings (RYI) Declares $0.18 Dividend

Ryerson Holdings said on May 1, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Previously, the company paid $0.17 per share.

Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.

At the current share price of $38.54 / share, the stock's dividend yield is 1.87%.

Looking back five years and taking a sample every week, the average dividend yield has been 5.78%, the lowest has been 0.96%, and the highest has been 16.55%. The standard deviation of yields is 3.79 (n=237).

The current dividend yield is 1.03 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.06%.

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What is the Fund Sentiment?

There are 438 funds or institutions reporting positions in Ryerson Holdings. This is an increase of 20 owner(s) or 4.78% in the last quarter. Average portfolio weight of all funds dedicated to RYI is 0.16%, a decrease of 20.55%. Total shares owned by institutions increased in the last three months by 2.12% to 38,542K shares. The put/call ratio of RYI is 0.60, indicating a bullish outlook.

Analyst Price Forecast Suggests 19.10% Upside

As of April 24, 2023, the average one-year price target for Ryerson Holdings is 45.90. The forecasts range from a low of 45.45 to a high of $47.25. The average price target represents an increase of 19.10% from its latest reported closing price of 38.54.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Ryerson Holdings is 4,692MM, a decrease of 21.55%. The projected annual non-GAAP EPS is 3.16.

What are Other Shareholders Doing?

Platinum Equity Advisors holds 15,924K shares representing 44.89% ownership of the company. No change in the last quarter.

Jb Capital Partners holds 1,852K shares representing 5.22% ownership of the company. No change in the last quarter.

Wasatch Advisors holds 768K shares representing 2.17% ownership of the company.

Acadian Asset Management holds 720K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 796K shares, representing a decrease of 10.54%. The firm decreased its portfolio allocation in RYI by 4.24% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 623K shares representing 1.75% ownership of the company. No change in the last quarter.

Ryerson Holding Background Information
(This description is provided by the company.)

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 3,900 employees in approximately 100 locations.

This story originally appeared on Fintel.