According to Zacks, “Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago. “
Several other analysts also recently commented on RYI. ValuEngine upgraded shares of Ryerson from a “sell” rating to a “hold” rating in a report on Friday, November 1st. BMO Capital Markets lowered their target price on shares of Ryerson from $9.00 to $7.00 and set a “market perform” rating for the company in a report on Monday, August 26th.
Ryerson (NYSE:RYI) last announced its earnings results on Wednesday, October 30th. The basic materials company reported $0.24 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 analysts’ expectations of $1.11 billion. Ryerson had a net margin of 1.20% and a return on equity of 54.24%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. As a group, research analysts forecast that Ryerson will post 1.63 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its position in Ryerson by 12.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 73,669 shares of the basic materials company’s stock worth $628,000 after purchasing an additional 8,216 shares during the period. First Trust Advisors LP bought a new position in Ryerson during the third quarter worth about $307,000. Mackay Shields LLC bought a new position in Ryerson during the third quarter worth about $464,000. Russell Investments Group Ltd. boosted its position in Ryerson by 48.4% during the third quarter. Russell Investments Group Ltd. now owns 41,735 shares of the basic materials company’s stock worth $355,000 after purchasing an additional 13,615 shares during the period. Finally, Bailard Inc. boosted its position in Ryerson by 11.2% during the third quarter. Bailard Inc. now owns 23,900 shares of the basic materials company’s stock worth $204,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 34.98% of the company’s stock.
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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