Ryerson (NYSE:RYI) Shares Pass Above Fifty Day Moving Average – Should You Sell?

Ryerson Holding Corporation (NYSE:RYI) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $26.17 and traded as high as $29.58. Ryerson shares last traded at $29.2590, with a volume of 324,670 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research raised Ryerson to a “hold” rating in a report on Wednesday, January 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Ryerson in a 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 company’s stock. Based on data from MarketBeat, Ryerson has an average rating of “Reduce” and an average target price of $25.00.

Ryerson Stock Up 3.7%

The business has a 50-day moving average price of $26.17 and a 200 day moving average price of $23.60. 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 stock has a market capitalization of $942.43 million, a P/E ratio of -41.21 and a beta of 1.58.

Insider Activity at Ryerson

In other news, CEO Edward J. Lehner sold 59,001 shares of the business’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 sale, the chief executive officer directly owned 593,228 shares in the company, valued at $17,832,433.68. The trade was a 9.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invenomic Capital Management LP bought a new stake in Ryerson during the third quarter worth approximately $4,032,000. CenterBook Partners LP purchased a new position in shares of Ryerson in the 3rd quarter worth approximately $3,522,000. Donald Smith & CO. Inc. bought a new position in shares of Ryerson during the 2nd quarter valued at approximately $2,403,000. Arrowstreet Capital Limited Partnership raised its holdings in Ryerson by 34.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 364,006 shares of the basic materials company’s stock valued at $7,852,000 after buying an additional 94,197 shares during the period. Finally, American Century Companies Inc. lifted its position in Ryerson by 8.5% in the third quarter. American Century Companies Inc. now owns 1,194,233 shares of the basic materials company’s stock worth $27,300,000 after buying an additional 93,800 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Company Profile

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.