Ryerson (NYSE:RYI) Trading Down 6.6% Following Analyst Downgrade

Ryerson Holding Co. (NYSE:RYI) shares were down 6.6% during trading on Thursday after StockNews.com downgraded the stock from a buy rating to a hold rating. The company traded as low as $23.07 and last traded at $23.14. Approximately 43,705 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 220,715 shares. The stock had previously closed at $24.78.

Separately, BMO Capital Markets decreased their price target on Ryerson from $33.00 to $28.00 and set a “market perform” rating for the company in a report on Thursday.

Insider Activity at Ryerson

In related news, COO Michael Burbach purchased 4,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief operating officer now owns 226,263 shares of the company’s stock, valued at $5,373,746.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Alagu Sundarrajan sold 2,593 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was 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 in the company, valued at $340,939.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Burbach bought 4,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $23.75 per share, with a total value of $95,000.00. Following the completion of the acquisition, the chief operating officer now owns 226,263 shares in the company, valued at $5,373,746.25. The disclosure for this purchase can be found here. 3.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RYI. SummerHaven Investment Management LLC increased its position in Ryerson by 2.1% during the fourth quarter. SummerHaven Investment Management LLC now owns 16,667 shares of the basic materials company’s stock worth $578,000 after purchasing an additional 336 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Ryerson by 5.0% in the first quarter. Los Angeles Capital Management LLC now owns 7,491 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 355 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Ryerson by 7.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 6,882 shares of the basic materials company’s stock valued at $200,000 after acquiring an additional 480 shares in the last quarter. Strs Ohio raised its position in Ryerson by 2.8% in the 4th quarter. Strs Ohio now owns 21,700 shares of the basic materials company’s stock valued at $752,000 after purchasing an additional 600 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Ryerson by 46.5% in the fourth quarter. New York State Teachers Retirement System now owns 2,518 shares of the basic materials company’s stock worth $87,000 after acquiring an additional 799 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Trading Down 1.9 %

The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 0.95. The stock has a market cap of $784.23 million, a price-to-earnings ratio of 8.85 and a beta of 1.69. The business’s 50 day moving average is $31.54 and its 200 day moving average is $31.58.

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

Ryerson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $0.188 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.75 dividend on an annualized basis and a yield of 3.29%. Ryerson’s dividend payout ratio is presently 29.07%.

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.