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

Ryerson Holding Co. (NYSE:RYI) traded down 6.6% during mid-day trading on Thursday after BMO Capital Markets lowered their price target on the stock from $33.00 to $28.00. BMO Capital Markets currently has a market perform rating on the stock. Ryerson traded as low as $23.07 and last traded at $23.14. 43,705 shares were traded during trading, a decline of 80% from the average session volume of 220,715 shares. The stock had previously closed at $24.78.

Insider Activity

In related news, insider Alagu Sundarrajan sold 7,407 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $32.77, for a total transaction of $242,727.39. Following the sale, the insider now directly owns 13,077 shares of the company’s stock, valued at $428,533.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.88% of the company’s stock.

Institutional Trading of Ryerson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYI. Janney Montgomery Scott LLC boosted its stake in shares of Ryerson by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 78,014 shares of the basic materials company’s stock worth $2,613,000 after acquiring an additional 6,443 shares in the last quarter. BNP Paribas Financial Markets raised its position in Ryerson by 3.7% during the first quarter. BNP Paribas Financial Markets now owns 46,135 shares of the basic materials company’s stock worth $1,546,000 after acquiring an additional 1,647 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Ryerson by 72.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,600 shares of the basic materials company’s stock valued at $456,000 after purchasing an additional 5,703 shares in the last quarter. Denali Advisors LLC boosted its holdings in Ryerson by 10.5% in the 1st quarter. Denali Advisors LLC now owns 159,186 shares of the basic materials company’s stock worth $5,333,000 after buying an additional 15,151 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Ryerson by 5.0% during the first quarter. Los Angeles Capital Management LLC now owns 7,491 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 355 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Ryerson Price Performance

The firm has a market cap of $789.94 million, a PE ratio of 9.13 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 0.95. The stock’s fifty day moving average price is $31.91 and its 200-day moving average price is $31.67.

Ryerson (NYSE:RYI) last posted its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.49. Ryerson had a return on equity of 10.28% and a net margin of 1.84%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned ($0.65) earnings per share.

Ryerson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.188 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.75 annualized dividend and a dividend yield of 3.24%. Ryerson’s dividend payout ratio is presently 29.07%.

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.