Two Sigma Advisers LP reduced its stake in Ryerson Holding (NYSE:RYI) by 53.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 77,406 shares of the basic materials company’s stock after selling 88,900 shares during the quarter. Two Sigma Advisers LP’s holdings in Ryerson were worth $805,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Centaurus Financial Inc. acquired a new stake in shares of Ryerson in the 4th quarter worth approximately $112,000. The Manufacturers Life Insurance Company lifted its stake in shares of Ryerson by 1,183.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 13,671 shares of the basic materials company’s stock worth $143,000 after acquiring an additional 12,606 shares during the period. California State Teachers Retirement System lifted its stake in shares of Ryerson by 11.9% in the 2nd quarter. California State Teachers Retirement System now owns 28,312 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 3,000 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Ryerson in the 3rd quarter worth approximately $431,000. Finally, California Public Employees Retirement System lifted its stake in shares of Ryerson by 89.2% in the 3rd quarter. California Public Employees Retirement System now owns 83,059 shares of the basic materials company’s stock worth $901,000 after acquiring an additional 39,159 shares during the period. 39.65% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Ryerson from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. TheStreet raised shares of Ryerson from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Jefferies Group reissued a “hold” rating and set a $11.00 target price on shares of Ryerson in a research note on Tuesday, January 9th. ValuEngine lowered shares of Ryerson from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Finally, Deutsche Bank cut their target price on shares of Ryerson from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, March 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Ryerson currently has an average rating of “Hold” and a consensus price target of $11.69.
RYI stock opened at $9.45 on Tuesday. Ryerson Holding has a 12 month low of $7.65 and a 12 month high of $14.65. The company has a market cap of $342.32, a P/E ratio of 25.54 and a beta of 1.90. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of -138.43.
Ryerson (NYSE:RYI) last released its earnings results on Monday, March 5th. The basic materials company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). Ryerson had a net margin of 0.51% and a negative return on equity of 71.60%. The business had revenue of $810.00 million for the quarter, compared to analyst estimates of $810.20 million. During the same period in the prior year, the company earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. equities analysts predict that Ryerson Holding will post 1.33 earnings per share for the current fiscal year.
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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, structural products, and tubing.
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