Ryerson Hldg Corp Stock Price, News & Analysis

Ryerson Holding Corporation (NYSE: RYI) announced a conference call on May 2, 2023, at 10 a.m. ET, to discuss its first quarter financial results for the period ended March 31, 2023. The earnings report will be released on May 1, 2023, post-market close. Ryerson, a prominent processor and distributor of industrial metals, operates in the United States, Canada, Mexico, and China, employing around 4,200 individuals across approximately 100 locations. Investors can access the live broadcast via the Company's Investor Relations website.

Ryerson Holding Corporation (NYSE: RYI) announced its participation in several upcoming investor conferences. The events include the J.P. Morgan Industrials Conference in New York City on March 15-16, the Bank of America Global Metals, Mining & Steel Conference in Barcelona from May 16-18, and the KeyBanc Industrials & Basic Materials Conference in Boston from May 30 - June 1. CFO Jim Claussen highlighted the company's successful capital structure transformation, having retired $300 million in high-yield debt and returned $120 million to shareholders. Founded in 1842, Ryerson operates in the U.S., Canada, Mexico, and China, employing around 4,200 staff across 100 locations.

On March 2, 2023, Ryerson Holding Corporation (NYSE: RYI) announced its acquisition of BLP Holdings, LLC, which includes three divisions based in Houston, Texas: Absolute Metal Products, Metal Cutting Specialists, and Houston Water Jet. This acquisition aims to enhance Ryerson's high-margin, value-added services in industrial metals, particularly in complex fabrication and toll processing. President Alan Singleton highlighted the strategic importance of this acquisition for diversifying service offerings and strengthening the company's service-center network.

Ryerson Holding Corporation (NYSE: RYI) announced the closing of an underwritten secondary public offering of 2,486,580 shares by an affiliate of Platinum Equity LLC. Ryerson did not sell shares or receive proceeds from this offering. Concurrently, Ryerson repurchased 1,513,420 shares from the Selling Stockholder, funded by cash on hand. This move aims to enhance the public company's share float and distribute ownership more broadly. Over the past year, Ryerson has returned over $120 million to shareholders through dividends and repurchases, while also retiring $300 million of high-yield debt and increasing its quarterly dividend by 70%.

On February 24, 2023, Ryerson Holding Corporation (NYSE: RYI) announced the pricing of a secondary public offering of 2,486,580 shares of its common stock by a principal shareholder, an affiliate of Platinum Equity LLC. The Company will not receive proceeds from this offering, which is expected to close around February 28, 2023. Additionally, Ryerson plans to repurchase 1,513,420 shares from the Selling Stockholder under a separate agreement, funded by cash on hand. J.P. Morgan will act as the sole underwriter for the offering. The offering documents are available via the SEC's EDGAR database.