Ryerson (NYSE:RYI) Downgraded by StockNews.com

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

Separately, BMO Capital Markets lowered their price objective on Ryerson from $33.00 to $28.00 and set a market perform rating on the stock in a research note on Thursday.

Ryerson Stock Performance

RYI opened at $22.84 on Friday. Ryerson has a 12-month low of $22.32 and a 12-month high of $44.70. The stock has a market cap of $784.33 million, a price-to-earnings ratio of 8.85 and a beta of 1.69. The business has a 50 day moving average of $31.54 and a 200-day moving average of $31.64. The company has a quick ratio of 0.94, a current ratio of 2.09 and a debt-to-equity ratio of 0.55.

Ryerson (NYSE:RYI) last announced its 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 for the quarter, compared to analyst estimates of $1.12 billion. Ryerson had a return on equity of 10.27% and a net margin of 1.84%. During the same quarter last year, the company earned ($0.65) earnings per share.

Ryerson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.188 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.75 dividend on an annualized basis and a yield of 3.29%. Ryerson’s dividend payout ratio (DPR) is presently 29.07%.

Insiders Place Their Bets

In other news, insider Alagu Sundarrajan sold 7,407 shares of Ryerson stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $32.77, for a total value of $242,727.39. Following the transaction, the insider now owns 13,077 shares in the company, valued at approximately $428,533.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Alagu Sundarrajan sold 7,407 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $32.77, for a total transaction of $242,727.39. Following the sale, the insider now owns 13,077 shares of the company’s stock, valued at approximately $428,533.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Burbach acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $23.75 per share, for a total transaction of $95,000.00. Following the acquisition, the chief operating officer now owns 226,263 shares in the company, valued at $5,373,746.25. The disclosure for this purchase can be found here. Corporate insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Ryerson

Several hedge funds have recently modified their holdings of the company. SummerHaven Investment Management LLC lifted its holdings in Ryerson by 2.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 16,667 shares of the basic materials company’s stock worth $578,000 after buying an additional 336 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Ryerson by 5.0% during the 1st 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 period. State Board of Administration of Florida Retirement System lifted its holdings in 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 worth $200,000 after buying an additional 480 shares during the period. Strs Ohio lifted its holdings in Ryerson by 2.8% during the 4th quarter. Strs Ohio now owns 21,700 shares of the basic materials company’s stock worth $752,000 after buying an additional 600 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings 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 buying an additional 799 shares during the period. Institutional investors and hedge funds 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.