Ryerson (NYSE:RYI) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Ryerson (NYSE:RYI) from a buy rating to a hold rating in a report published on Friday morning.

Separately, BMO Capital Markets dropped their price objective on Ryerson from $45.00 to $40.00 and set a market perform rating for the company in a research note on Wednesday, August 2nd.

Ryerson Stock Up 1.8 %

Shares of NYSE RYI opened at $30.77 on Friday. Ryerson has a one year low of $23.63 and a one year high of $44.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.03 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $34.46 and its two-hundred day simple moving average is $36.22. The stock has a market capitalization of $1.06 billion, a P/E ratio of 9.80 and a beta of 1.82.

Ryerson (NYSE:RYI) last released its quarterly earnings data on Monday, July 31st. The basic materials company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.27). The company had revenue of $1.34 billion for the quarter. Ryerson had a net margin of 2.08% and a return on equity of 13.20%. As a group, analysts expect that Ryerson will post 3.3 EPS for the current fiscal year.

Ryerson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 31st were issued a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 2.37%. This is an increase from Ryerson’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, August 30th. Ryerson’s dividend payout ratio (DPR) is presently 23.25%.

Insiders Place Their Bets

In related news, Director Stephen P. Larson acquired 5,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $29.55 per share, with a total value of $147,750.00. Following the transaction, the director now directly owns 80,000 shares in the company, valued at $2,364,000. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RYI. Bank of New York Mellon Corp lifted its holdings in Ryerson by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 218,544 shares of the basic materials company’s stock worth $7,654,000 after purchasing an additional 1,035 shares in the last quarter. American Century Companies Inc. lifted its holdings in Ryerson by 3.5% in the 1st quarter. American Century Companies Inc. now owns 39,551 shares of the basic materials company’s stock worth $1,385,000 after purchasing an additional 1,341 shares in the last quarter. US Bancorp DE lifted its holdings in Ryerson by 59.0% in the 1st quarter. US Bancorp DE now owns 3,640 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,351 shares in the last quarter. Bank of Montreal Can lifted its holdings in Ryerson by 0.7% in the 1st quarter. Bank of Montreal Can now owns 72,723 shares of the basic materials company’s stock worth $2,658,000 after purchasing an additional 501 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Ryerson by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 9,181 shares of the basic materials company’s stock worth $322,000 after purchasing an additional 3,333 shares in the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ryerson Company Profile

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States and internationally. It offers a line of products in carbon steel, stainless steel, alloy steels, and aluminum, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural, and tubing.