Ryerson (NYSE:RYI) PT Lowered to $28.00 at BMO Capital Markets

Ryerson (NYSE:RYI) had its price objective lowered by research analysts at BMO Capital Markets from $33.00 to $28.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target indicates a potential upside of 22.59% from the stock’s previous close.

Ryerson Stock Down 1.9 %

Ryerson stock traded down $0.45 during midday trading on Thursday, reaching $22.84. The stock had a trading volume of 670,714 shares, compared to its average volume of 262,101. The company has a fifty day moving average price of $31.54 and a two-hundred day moving average price of $31.58. The company has a current ratio of 2.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Ryerson has a 12 month low of $22.32 and a 12 month high of $44.70. The company has a market capitalization of $784.33 million, a P/E ratio of 8.85 and a beta of 1.69.

Ryerson (NYSE:RYI) last issued its earnings results on Wednesday, February 21st. The basic materials company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.24 by $0.49. Ryerson had a net margin of 1.84% and a return on equity of 10.27%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm earned ($0.65) earnings per share.

Insiders Place Their Bets

In other Ryerson news, insider Alagu Sundarrajan sold 2,593 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $32.52, for a total value of $84,324.36. Following the completion of the sale, the insider now owns 10,484 shares of the company’s stock, valued at $340,939.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Ryerson news, insider Alagu Sundarrajan sold 2,593 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $32.52, for a total transaction of $84,324.36. Following the completion of the sale, the insider now directly owns 10,484 shares in the company, valued at approximately $340,939.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Michael Burbach purchased 4,000 shares of Ryerson stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $23.75 per share, for a total transaction of $95,000.00. Following the transaction, the chief operating officer now directly owns 226,263 shares in the company, valued at approximately $5,373,746.25. The disclosure for this purchase can be found here. 3.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its position in shares of Ryerson by 2.1% in the fourth quarter. SummerHaven Investment Management LLC now owns 16,667 shares of the basic materials company’s stock valued at $578,000 after acquiring an additional 336 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Ryerson by 5.0% in the first quarter. Los Angeles Capital Management LLC now owns 7,491 shares of the basic materials company’s stock worth $251,000 after buying an additional 355 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Ryerson by 7.5% during the 3rd 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 acquiring an additional 480 shares during the period. Strs Ohio increased its position in Ryerson by 2.8% in the fourth quarter. Strs Ohio now owns 21,700 shares of the basic materials company’s stock worth $752,000 after buying an additional 600 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Ryerson by 46.5% during the 4th quarter. New York State Teachers Retirement System now owns 2,518 shares of the basic materials company’s stock worth $87,000 after acquiring an additional 799 shares during the period. Institutional investors own 94.81% of the company’s stock.

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.