Ryerson (NYSE:RYI) Price Target Lowered to $28.00 at BMO Capital Markets

Ryerson (NYSE:RYI) had its target price cut by BMO Capital Markets from $33.00 to $28.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a market perform rating on the basic materials company’s stock.

Ryerson Stock Down 1.6 %

RYI stock traded down $0.36 during midday trading on Thursday, hitting $22.48. The stock had a trading volume of 236,779 shares, compared to its average volume of 232,867. The firm has a market cap of $771.96 million, a price-to-earnings ratio of 8.80 and a beta of 1.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 0.94. Ryerson has a 52-week low of $22.32 and a 52-week high of $44.70. The business has a 50-day moving average of $31.54 and a two-hundred day moving average of $31.64.

Ryerson (NYSE:RYI) last posted its earnings results on Wednesday, February 21st. The basic materials company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.49. The business had revenue of $1.11 billion during 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) EPS.

Ryerson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $0.188 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.75 annualized dividend and a yield of 3.35%. Ryerson’s dividend payout ratio (DPR) is presently 29.07%.

Insider Transactions at Ryerson

In related news, insider Alagu Sundarrajan sold 7,407 shares of the company’s 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 directly owns 13,077 shares of the company’s stock, valued at approximately $428,533.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Michael Burbach purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $23.75 per share, for a total transaction of $95,000.00. Following the completion of the transaction, the chief operating officer now owns 226,263 shares of the company’s stock, valued at $5,373,746.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alagu Sundarrajan sold 7,407 shares of the business’s stock in a transaction that occurred 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 $428,533.29. The disclosure for this sale can be found here. Insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Ryerson

A number of hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of Ryerson during the third quarter worth about $27,000. New York State Teachers Retirement System grew its stake in Ryerson by 46.5% in the 4th quarter. New York State Teachers Retirement System now owns 2,518 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 799 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of 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 purchasing an additional 480 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Ryerson in the 4th quarter valued at about $247,000. Finally, SG Americas Securities LLC acquired a new position in shares of Ryerson in the third quarter valued at approximately $219,000. Hedge funds and other institutional investors 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.