Ryerson Holding Corp (NYSE:RYI) Sees Significant Decline in Short Interest

Ryerson Holding Corp (NYSE:RYI) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 198,300 shares, a drop of 11.9% from the June 30th total of 225,100 shares. Based on an average trading volume of 184,900 shares, the short-interest ratio is currently 1.1 days. Approximately 1.3% of the company’s shares are short sold.

RYI traded up $0.22 on Friday, hitting $7.16. The company had a trading volume of 414 shares, compared to its average volume of 180,925. Ryerson has a 12-month low of $5.99 and a 12-month high of $11.89. The business’s fifty day simple moving average is $7.81 and its 200 day simple moving average is $8.33. The company has a market cap of $273.93 million, a PE ratio of 6.67 and a beta of 1.87. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 8.94.

Ryerson (NYSE:RYI) last announced its earnings results on Monday, August 5th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.32). Ryerson had a net margin of 2.56% and a return on equity of 56.51%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the firm earned $0.46 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts anticipate that Ryerson will post 2.02 earnings per share for the current fiscal year.



In related news, insider Michael Burbach purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $8.49 per share, for a total transaction of $33,960.00. Following the completion of the transaction, the insider now owns 110,090 shares in the company, valued at approximately $934,664.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.36% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Towle & Co. boosted its holdings in shares of Ryerson by 3.7% in the second quarter. Towle & Co. now owns 2,326,729 shares of the basic materials company’s stock valued at $19,382,000 after purchasing an additional 83,516 shares during the period. BlackRock Inc. boosted its holdings in shares of Ryerson by 8.3% in the second quarter. BlackRock Inc. now owns 1,820,395 shares of the basic materials company’s stock valued at $15,165,000 after purchasing an additional 138,921 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ryerson by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,295,114 shares of the basic materials company’s stock valued at $8,211,000 after purchasing an additional 97,085 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ryerson by 1.5% in the second quarter. Vanguard Group Inc. now owns 913,245 shares of the basic materials company’s stock valued at $7,607,000 after purchasing an additional 13,870 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Ryerson by 120.1% in the second quarter. Prudential Financial Inc. now owns 497,166 shares of the basic materials company’s stock valued at $4,141,000 after purchasing an additional 271,322 shares during the period. Institutional investors and hedge funds own 35.83% of the company’s stock.

Several research firms recently commented on RYI. ValuEngine lowered Ryerson from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Deutsche Bank set a $10.00 price target on Ryerson and gave the stock a “hold” rating in a research report on Thursday, July 11th. Finally, Zacks Investment Research lowered Ryerson from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 10th.

Ryerson Company Profile

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

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