Ryerson (NYSE:RYI) Sets New 12-Month Low at $22.28

Shares of Ryerson Holding Co. (NYSE:RYI) hit a new 52-week low during trading on Tuesday . The stock traded as low as $22.28 and last traded at $22.50, with a volume of 434572 shares trading hands. The stock had previously closed at $22.91.

Analyst Ratings Changes

Several equities analysts have issued reports on RYI shares. BMO Capital Markets lowered their target price on shares of Ryerson from $33.00 to $28.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. StockNews.com cut shares of Ryerson from a “buy” rating to a “hold” rating in a research note on Friday.

Ryerson Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 2.09. The business’s fifty day simple moving average is $31.35 and its 200-day simple moving average is $31.61. The firm has a market capitalization of $772.99 million, a PE ratio of 8.88 and a beta of 1.69.

Ryerson (NYSE:RYI) last announced its quarterly earnings data 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 net margin of 1.84% and a return on equity of 10.27%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted ($0.65) EPS.

Ryerson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, June 6th. Ryerson’s dividend payout ratio (DPR) is presently 29.07%.

Insider Activity at Ryerson

In other Ryerson news, insider Alagu Sundarrajan sold 7,407 shares of Ryerson stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $32.77, for a total transaction of $242,727.39. Following the completion of the transaction, the insider now directly owns 13,077 shares of the company’s stock, valued at $428,533.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Michael Burbach bought 4,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $23.75 per share, with a total value of $95,000.00. Following the completion of 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 legal filing with the SEC, which is available at this link. Also, insider Alagu Sundarrajan sold 7,407 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were 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 disclosure for this sale can be found here. 3.88% of the stock is currently owned by insiders.

Institutional Trading of Ryerson

A number of hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in Ryerson by 2.1% in the fourth quarter. SummerHaven Investment Management LLC now owns 16,667 shares of the basic materials company’s stock worth $578,000 after acquiring an additional 336 shares during the period. Los Angeles Capital Management LLC lifted 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 valued at $251,000 after buying an additional 355 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Ryerson by 7.5% during 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 buying an additional 480 shares during the last quarter. Strs Ohio lifted its position in shares of Ryerson by 2.8% during the fourth quarter. Strs Ohio now owns 21,700 shares of the basic materials company’s stock valued at $752,000 after buying an additional 600 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Ryerson by 46.5% during the fourth quarter. New York State Teachers Retirement System now owns 2,518 shares of the basic materials company’s stock valued at $87,000 after buying an additional 799 shares during the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.