Ryerson Holding Corp (NYSE:RYI) was the target of a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 245,000 shares, a drop of 7.8% from the November 14th total of 265,800 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 125,900 shares, the short-interest ratio is currently 1.9 days.
NYSE:RYI traded up $0.01 during mid-day trading on Friday, hitting $11.96. The stock had a trading volume of 182,408 shares, compared to its average volume of 126,513. Ryerson has a twelve month low of $5.99 and a twelve month high of $12.11. The stock has a market cap of $450.38 million, a price-to-earnings ratio of 7.27 and a beta of 2.13. The company’s 50 day simple moving average is $9.93 and its 200 day simple moving average is $8.41. The company has a debt-to-equity ratio of 7.37, a quick ratio of 0.92 and a current ratio of 2.21.
Ryerson (NYSE:RYI) last issued its earnings results on Wednesday, October 30th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.39). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Ryerson had a net margin of 1.20% and a return on equity of 54.24%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. As a group, equities analysts forecast that Ryerson will post 1.63 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of RYI. Strs Ohio lifted its position in Ryerson by 25.6% during the second quarter. Strs Ohio now owns 73,500 shares of the basic materials company’s stock worth $612,000 after acquiring an additional 15,000 shares during the last quarter. Aperio Group LLC acquired a new stake in Ryerson during the second quarter worth approximately $108,000. Hillsdale Investment Management Inc. lifted its position in Ryerson by 5.9% during the second quarter. Hillsdale Investment Management Inc. now owns 175,000 shares of the basic materials company’s stock worth $1,457,000 after acquiring an additional 9,800 shares during the last quarter. Van ECK Associates Corp lifted its position in Ryerson by 19.4% during the second quarter. Van ECK Associates Corp now owns 29,074 shares of the basic materials company’s stock worth $242,000 after acquiring an additional 4,718 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Ryerson by 65.7% during the second quarter. JPMorgan Chase & Co. now owns 180,408 shares of the basic materials company’s stock worth $1,458,000 after acquiring an additional 71,523 shares during the last quarter. Hedge funds and other institutional investors own 35.44% of the company’s stock.
RYI has been the subject of several recent analyst reports. ValuEngine downgraded shares of Ryerson from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. BMO Capital Markets cut their target price on shares of Ryerson from $9.00 to $7.00 and set a “market perform” rating for the company in a research note on Monday, August 26th. Finally, Zacks Investment Research upgraded shares of Ryerson from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 16th.
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, structurals, and tubing.
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