Ryerson Shareholders Approve Merger to Acquire Olympic Steel

Ryerson Holdings ( (RYI) ) has shared an update.

On February 12, 2026, Ryerson Holding Corporation held a special meeting at which stockholders overwhelmingly approved the issuance of new Ryerson common shares required to complete its planned merger with Olympic Steel, with about 90.95% of eligible shares represented and the issuance proposal passing by a wide margin. At a separate special meeting the same day, Olympic Steel shareholders also approved the merger, clearing a key shareholder hurdle for a transaction that will make Olympic a wholly owned subsidiary of Ryerson.

Under the merger terms, which were expected to close on February 13, 2026, Olympic Steel shareholders were to receive 1.7105 shares of Ryerson common stock for each Olympic share, and Olympic’s stock was slated to cease trading on Nasdaq once the deal closed. The approvals mark a significant consolidation move in the metals distribution sector, positioning the combined company to broaden its footprint and product offering, while ending Olympic’s run as an independent public company and reshaping the competitive landscape for customers, suppliers, and investors in the industrial metals market.

The most recent analyst rating on (RYI) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Ryerson Holdings stock, see the RYI Stock Forecast page.

Spark’s Take on RYI Stock

According to Spark, TipRanks’ AI Analyst, RYI is a Neutral.

The score is held back primarily by weak financial performance (profitability pressure and deteriorating free cash flow) and a negative P/E tied to losses. Technicals are moderately supportive with a trend above major moving averages and positive MACD, while the earnings call adds mixed support due to merger synergies and improved liquidity offset by soft demand and loss-making guidance.

To see Spark’s full report on RYI stock, click here.

More about Ryerson Holdings

Ryerson Holding Corporation (NYSE: RYI) is a leading value-added processor and distributor of industrial metals with operations across the United States, Canada, Mexico, and China, employing around 4,300 people at roughly 106 locations. Olympic Steel, Inc. (Nasdaq: ZEUS) is a leading U.S. metals service center focused on the direct sale and value-added processing of a wide range of carbon, coated, stainless and aluminum steel products, as well as metal-intensive end-use products, from 53 facilities headquartered in Cleveland, Ohio.

Both companies operate in the highly competitive and fragmented metals distribution and processing industry, supplying industrial, commercial, and infrastructure customers with processed metal products and related solutions. Their combination is set to create a larger, more geographically diversified platform in North American metals distribution, with an expanded product mix and value-added processing capabilities.

Average Trading Volume: 355,985

Technical Sentiment Signal: Buy

Current Market Cap: $912.9M

For an in-depth examination of RYI stock, go to TipRanks’ Overview page.