Ryerson (NYSE:RYI) Shares Up 4.1%

Ryerson Holding Co. (NYSE:RYI)’s stock price rose 4.1% during trading on Monday . The company traded as high as $21.11 and last traded at $21.09. Approximately 35,295 shares were traded during trading, a decline of 89% from the average daily volume of 312,357 shares. The stock had previously closed at $20.26.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RYI. BMO Capital Markets lowered 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, May 2nd. StockNews.com cut Ryerson from a “buy” rating to a “hold” rating in a report on Friday, May 3rd.

Ryerson Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 2.38. The company has a market capitalization of $703.20 million, a P/E ratio of 8.05 and a beta of 1.61. The company’s fifty day simple moving average is $20.67 and its 200-day simple moving average is $26.08.

Ryerson (NYSE:RYI) last released its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The firm had revenue of $1.23 billion for the quarter. Ryerson had a net margin of 1.31% and a return on equity of 7.27%. During the same quarter in the prior year, the business posted $1.06 earnings per share.

Ryerson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Thursday, September 5th. Ryerson’s payout ratio is 29.07%.

Insider Buying and Selling

In other news, Director Karen Marie Leggio purchased 2,127 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average cost of $23.50 per share, with a total value of $49,984.50. Following the completion of the acquisition, the director now owns 2,127 shares of the company’s stock, valued at $49,984.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ryerson

Several hedge funds have recently modified their holdings of RYI. Point72 DIFC Ltd increased its stake in Ryerson by 16.7% during the 2nd quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 837 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Ryerson in the first quarter valued at about $139,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ryerson by 41.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,685 shares of the basic materials company’s stock valued at $150,000 after buying an additional 2,259 shares during the last quarter. Comerica Bank raised its position in Ryerson by 2,177.4% during the 1st quarter. Comerica Bank now owns 6,855 shares of the basic materials company’s stock worth $230,000 after buying an additional 6,554 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Ryerson during the fourth quarter worth $247,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

About Ryerson

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.