Ryerson (RYI) Downgraded by Deutsche Bank

Deutsche Bank cut shares of Ryerson (NYSE:RYI) from a buy rating to a hold rating in a research note released on Wednesday, Benzinga’s Daily Ratings Newsletter reports. They currently have $10.00 price target on the basic materials company’s stock.

Several other brokerages have also recently weighed in on RYI. Zacks Investment Research upgraded shares of Ryerson from a sell rating to a hold rating in a research report on Wednesday, March 13th. ValuEngine upgraded shares of Ryerson from a strong sell rating to a sell rating in a research report on Friday, March 15th.

Shares of RYI opened at $8.81 on Wednesday. Ryerson has a fifty-two week low of $5.99 and a fifty-two week high of $12.95. The firm has a market capitalization of $322.36 million, a P/E ratio of 8.24 and a beta of 1.98. The company has a current ratio of 2.48, a quick ratio of 1.07 and a debt-to-equity ratio of 14.84.

In other Ryerson news, Director Stephen P. Larson purchased 20,000 shares of Ryerson stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of $8.55 per share, for a total transaction of $171,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $342,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.36% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. boosted its stake in Ryerson by 20.1% during the third quarter. Prudential Financial Inc. now owns 245,698 shares of the basic materials company’s stock worth $2,776,000 after buying an additional 41,154 shares during the period. Vanguard Group Inc boosted its stake in Ryerson by 1.2% during the third quarter. Vanguard Group Inc now owns 808,617 shares of the basic materials company’s stock worth $9,137,000 after buying an additional 9,565 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Ryerson by 8.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 54,248 shares of the basic materials company’s stock worth $343,000 after buying an additional 4,224 shares during the period. BlackRock Inc. boosted its stake in Ryerson by 24.1% during the third quarter. BlackRock Inc. now owns 1,712,097 shares of the basic materials company’s stock worth $19,347,000 after buying an additional 332,254 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Ryerson by 5.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,198,029 shares of the basic materials company’s stock worth $13,538,000 after buying an additional 58,740 shares during the period. 37.38% of the stock is owned by institutional investors.

About Ryerson

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, structural products, and tubing.

See Also: Yield Curve

Receive News & Ratings for Ryerson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryerson and related companies with MarketBeat.com's FREE daily email newsletter.