Ryerson (NYSE:RYI) Downgraded by StockNews.com

StockNews.com lowered shares of Ryerson (NYSE:RYI) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, BMO Capital Markets dropped their price objective on shares of Ryerson from $33.00 to $28.00 and set a market perform rating for the company in a report on Thursday.

Ryerson Trading Down 1.9 %

NYSE RYI opened at $22.84 on Friday. Ryerson has a 1-year low of $22.32 and a 1-year high of $44.70. The firm’s fifty day simple moving average is $31.54 and its 200-day simple moving average is $31.64. The company has a current ratio of 2.09, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $784.33 million, a PE ratio of 8.85 and a beta of 1.69.

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

Ryerson Dividend Announcement

The firm also recently disclosed 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. This represents a $0.75 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, June 6th. Ryerson’s dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling

In other news, COO Michael Burbach purchased 4,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $23.75 per share, for a total transaction of $95,000.00. Following the completion of the purchase, the chief operating officer now directly owns 226,263 shares in the company, valued at approximately $5,373,746.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Alagu Sundarrajan sold 7,407 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $32.77, for a total value of $242,727.39. Following the completion of the transaction, the insider now owns 13,077 shares of the company’s stock, valued at $428,533.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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. Company insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Ryerson

Several large investors have recently bought and sold shares of RYI. William Blair Investment Management LLC acquired a new position in Ryerson in the third quarter valued at approximately $23,522,000. Vanguard Group Inc. increased its position in Ryerson by 28.6% in the third quarter. Vanguard Group Inc. now owns 2,233,108 shares of the basic materials company’s stock worth $64,961,000 after buying an additional 496,913 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Ryerson by 2,203.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 261,647 shares of the basic materials company’s stock valued at $7,611,000 after acquiring an additional 250,290 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Ryerson by 106.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 382,092 shares of the basic materials company’s stock valued at $11,115,000 after buying an additional 196,872 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ryerson by 47.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company’s stock worth $17,053,000 after acquiring an additional 189,517 shares during the period. 94.81% of the stock is currently owned by institutional investors.

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.