Ryerson (NYSE:RYI) Reaches New 12-Month High – Should You Buy?

Ryerson Holding Corporation (NYSE:RYI) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $30.39 and last traded at $29.7720, with a volume of 61883 shares trading hands. The stock had previously closed at $29.31.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RYI shares. Zacks Research raised Ryerson to a “hold” rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ryerson in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $25.00.

Ryerson Price Performance

The company has a current ratio of 1.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $26.17 and a 200 day simple moving average of $23.60. The stock has a market cap of $959.54 million, a P/E ratio of -41.94 and a beta of 1.58.

Insider Buying and Selling

In related news, CEO Edward J. Lehner sold 59,001 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $30.06, for a total value of $1,773,570.06. Following the transaction, the chief executive officer owned 593,228 shares in the company, valued at approximately $17,832,433.68. This represents a 9.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ryerson

A number of institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Ryerson during the third quarter worth approximately $30,000. CWM LLC grew its holdings in Ryerson by 97.7% in the 2nd quarter. CWM LLC now owns 1,866 shares of the basic materials company’s stock valued at $40,000 after buying an additional 922 shares in the last quarter. New York State Teachers Retirement System bought a new position in Ryerson during the 3rd quarter worth $56,000. AlphaQuest LLC increased its position in Ryerson by 259,800.0% during the 3rd quarter. AlphaQuest LLC now owns 2,599 shares of the basic materials company’s stock worth $59,000 after buying an additional 2,598 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Ryerson by 157.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,936 shares of the basic materials company’s stock worth $85,000 after buying an additional 2,405 shares in the last quarter. Institutional investors own 94.81% of the company’s stock.

About Ryerson

Ryerson, Inc is a North American metals distributor and processor serving a broad range of industrial and manufacturing end markets. Headquartered in Chicago, Illinois, the company supplies carbon steels, stainless alloys, aluminum, brass and copper products to customers across the United States, Canada and Mexico. Through its extensive branch network, Ryerson provides just-in-time delivery and comprehensive inventory management solutions to support complex production schedules and tight lead-time requirements.

In addition to raw material distribution, Ryerson offers a suite of value-added processing services, including laser and plasma cutting, plate burning, sawing, shearing, forming, drilling and welding.