Ryerson (NYSE:RYI) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Ryerson (NYSE:RYI) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, BMO Capital Markets dropped their target price on shares of Ryerson from $33.00 to $28.00 and set a market perform rating on the stock in a research report on Thursday, May 2nd.

Ryerson Stock Performance

Shares of RYI stock opened at $22.91 on Friday. The company has a current ratio of 2.09, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. Ryerson has a 12-month low of $22.32 and a 12-month high of $44.70. The business’s 50 day moving average is $31.35 and its two-hundred day moving average is $31.61. The company has a market capitalization of $786.73 million, a P/E ratio of 8.88 and a beta of 1.69.

Ryerson (NYSE:RYI) last announced its earnings results on Wednesday, February 21st. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.49. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. Ryerson had a return on equity of 10.27% and a net margin of 1.84%. During the same quarter last year, the firm posted ($0.65) EPS.

Ryerson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Thursday, June 6th. Ryerson’s payout ratio is 29.07%.

Insider Activity at Ryerson

In other Ryerson news, insider Alagu Sundarrajan sold 7,407 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $32.77, for a total value of $242,727.39. Following the transaction, the insider now directly owns 13,077 shares of the company’s stock, valued at approximately $428,533.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Michael Burbach purchased 4,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $23.75 per share, with a total value of $95,000.00. Following the transaction, the chief operating officer now owns 226,263 shares in the company, valued at approximately $5,373,746.25. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alagu Sundarrajan sold 7,407 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $32.77, for a total transaction of $242,727.39. Following the completion of the sale, the insider now directly owns 13,077 shares of the company’s stock, valued at approximately $428,533.29. The disclosure for this sale can be found here. 3.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryerson

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Ryerson by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,258,261 shares of the basic materials company’s stock valued at $78,318,000 after buying an additional 79,139 shares during the period. Vanguard Group Inc. increased its stake in Ryerson by 28.6% during the third quarter. Vanguard Group Inc. now owns 2,233,108 shares of the basic materials company’s stock worth $64,961,000 after acquiring an additional 496,913 shares during the last quarter. Franklin Resources Inc. increased its stake in Ryerson by 15.0% during the fourth quarter. Franklin Resources Inc. now owns 1,262,776 shares of the basic materials company’s stock worth $43,793,000 after acquiring an additional 164,447 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Ryerson in the third quarter valued at $23,522,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Ryerson by 47.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company’s stock valued at $17,053,000 after purchasing an additional 189,517 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

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.