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

Ryerson Holding Co. (NYSE:RYI) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 693,900 shares, a drop of 19.1% from the November 15th total of 857,400 shares. Based on an average trading volume of 262,500 shares, the short-interest ratio is currently 2.6 days. Approximately 2.6% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, EVP Mark S. Silver sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $24.56, for a total transaction of $221,040.00. Following the completion of the transaction, the executive vice president now directly owns 107,664 shares in the company, valued at approximately $2,644,227.84. The trade was a 7.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Ryerson

Institutional investors and hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new stake in Ryerson in the 2nd quarter worth $39,000. Copeland Capital Management LLC purchased a new position in shares of Ryerson in the third quarter valued at $56,000. SG Americas Securities LLC bought a new stake in Ryerson in the third quarter worth $108,000. Point72 DIFC Ltd raised its stake in Ryerson by 16.7% during the second 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ryerson by 41.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,685 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 2,259 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.

Ryerson Price Performance

Shares of NYSE RYI traded down $0.47 during midday trading on Friday, reaching $22.26. The stock had a trading volume of 184,354 shares, compared to its average volume of 301,404. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22. Ryerson has a 12-month low of $17.57 and a 12-month high of $36.20. The stock has a 50-day moving average of $23.35 and a 200-day moving average of $21.48. The company has a market capitalization of $708.98 million, a price-to-earnings ratio of 36.49 and a beta of 1.54.

Ryerson (NYSE:RYI) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). The business had revenue of $1.13 billion for the quarter. Ryerson had a net margin of 0.46% and a return on equity of 2.66%. During the same quarter in the previous year, the company posted $1.00 earnings per share.

Ryerson Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Thursday, December 5th. Ryerson’s dividend payout ratio (DPR) is currently 122.95%.

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.