Ryerson (NYSE:RYI) Stock Price Down 5.7% – Here’s What Happened

Ryerson Holding Corporation (NYSE:RYI) was down 5.7% on Wednesday . The company traded as low as $23.75 and last traded at $23.8040. Approximately 483,114 shares changed hands during trading, an increase of 18% from the average daily volume of 409,775 shares. The stock had previously closed at $25.23.

Analyst Upgrades and Downgrades

RYI has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Ryerson to a “hold” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ryerson in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $25.00.

Ryerson Stock Performance

The company has a fifty day moving average price of $27.35 and a two-hundred day moving average price of $24.09. The firm has a market cap of $761.03 million, a price-to-earnings ratio of -33.28 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.98 and a quick ratio of 0.95.

Ryerson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.75 annualized dividend and a dividend yield of 3.2%. Ryerson’s payout ratio is currently -105.63%.

Insider Buying and Selling

In other news, CFO James J. Claussen sold 4,972 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.00, for a total transaction of $149,160.00. Following the sale, the chief financial officer directly owned 74,284 shares of the company’s stock, valued at $2,228,520. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward J. Lehner sold 59,001 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $17,832,433.68. This represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,973 shares of company stock worth $1,952,740 over the last quarter. Insiders own 3.95% of the company’s stock.

Institutional Trading of Ryerson

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in Ryerson during the fourth quarter valued at about $233,000. SummitTX Capital L.P. acquired a new stake in shares of Ryerson during the fourth quarter valued at approximately $7,083,000. Odyssean LLC acquired a new position in Ryerson in the 4th quarter worth approximately $302,000. Millennium Management LLC grew its position in Ryerson by 336.1% during the 4th quarter. Millennium Management LLC now owns 104,555 shares of the basic materials company’s stock worth $2,631,000 after purchasing an additional 80,580 shares in the last quarter. Finally, Invenomic Capital Management LP raised its stake in Ryerson by 270.5% during the 4th quarter. Invenomic Capital Management LP now owns 653,514 shares of the basic materials company’s stock valued at $16,442,000 after purchasing an additional 477,138 shares during the period. Institutional investors and hedge funds 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.