Ryerson Holding Corp (NYSE:RYI) Short Interest Up 20.1% in August

Ryerson Holding Corp (NYSE:RYI) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 238,100 shares, a growth of 20.1% from the July 31st total of 198,300 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 174,600 shares, the short-interest ratio is currently 1.4 days.

Shares of RYI traded up $0.29 during midday trading on Friday, reaching $9.50. 152,300 shares of the stock were exchanged, compared to its average volume of 151,785. Ryerson has a 12-month low of $5.99 and a 12-month high of $11.89. The firm has a 50 day simple moving average of $7.37 and a 200-day simple moving average of $8.29. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 8.94. The company has a market cap of $358.15 million, a price-to-earnings ratio of 8.88 and a beta of 1.92.

Ryerson (NYSE:RYI) last posted its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.32). Ryerson had a return on equity of 56.51% and a net margin of 2.56%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts expect that Ryerson will post 2.16 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Ryerson by 19.4% during the 2nd quarter. Van ECK Associates Corp now owns 29,074 shares of the basic materials company’s stock valued at $242,000 after acquiring an additional 4,718 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Ryerson by 10.5% during the 4th quarter. Bank of America Corp DE now owns 50,832 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 4,846 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Ryerson by 6.2% during the 2nd quarter. WINTON GROUP Ltd now owns 85,981 shares of the basic materials company’s stock valued at $716,000 after acquiring an additional 5,015 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Ryerson by 36.6% during the 1st quarter. Victory Capital Management Inc. now owns 140,840 shares of the basic materials company’s stock valued at $1,206,000 after acquiring an additional 37,765 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its holdings in shares of Ryerson by 3.3% during the 1st quarter. ClariVest Asset Management LLC now owns 98,100 shares of the basic materials company’s stock valued at $840,000 after acquiring an additional 3,100 shares during the last quarter. 35.65% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on RYI shares. Zacks Investment Research raised Ryerson from a “strong sell” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets cut their price target on Ryerson from $9.00 to $7.00 and set a “market perform” rating for the company in a research note on Monday, August 26th. ValuEngine raised Ryerson from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, Deutsche Bank set a $10.00 price target on Ryerson and gave the stock a “hold” rating in a research note on Thursday, July 11th.

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, structurals, and tubing.

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