Ryerson (NYSE:RYI) Stock Rating Lowered by StockNews.com

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

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

Ryerson Stock Performance

NYSE RYI opened at $22.91 on Friday. The company’s 50 day moving average is $31.35 and its 200-day moving average is $31.61. The firm has a market cap of $786.73 million, a P/E ratio of 8.88 and a beta of 1.69. Ryerson has a 12-month low of $22.32 and a 12-month high of $44.70. The company has a quick ratio of 0.94, a current ratio of 2.09 and a debt-to-equity ratio of 0.55.

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

Ryerson Dividend Announcement

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

Insider Activity at Ryerson

In other news, insider Alagu Sundarrajan sold 2,593 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $32.52, for a total value of $84,324.36. Following the transaction, the insider now owns 10,484 shares of the company’s stock, valued at approximately $340,939.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Ryerson news, COO Michael Burbach purchased 4,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $23.75 per share, for a total transaction of $95,000.00. Following the completion of the transaction, the chief operating officer now directly owns 226,263 shares in the company, valued at approximately $5,373,746.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alagu Sundarrajan sold 2,593 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $32.52, for a total value of $84,324.36. Following the completion of the sale, the insider now directly owns 10,484 shares of the company’s stock, valued at approximately $340,939.68. The disclosure for this sale can be found here. 3.88% of the stock is currently owned by insiders.

Institutional Trading of Ryerson

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Ryerson by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,258,261 shares of the basic materials company’s stock worth $78,318,000 after buying an additional 79,139 shares during the period. Vanguard Group Inc. increased its position in shares of Ryerson by 28.6% in the third quarter. Vanguard Group Inc. now owns 2,233,108 shares of the basic materials company’s stock valued at $64,961,000 after acquiring an additional 496,913 shares during the period. Franklin Resources Inc. raised its stake in shares of Ryerson by 15.0% during the fourth quarter. Franklin Resources Inc. now owns 1,262,776 shares of the basic materials company’s stock valued at $43,793,000 after acquiring an additional 164,447 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Ryerson during the third quarter valued at about $23,522,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ryerson by 47.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company’s stock worth $17,053,000 after purchasing an additional 189,517 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

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.