Ryerson (NYSE:RYI) Trading Down 6.6% on Analyst Downgrade

Ryerson Holding Co. (NYSE:RYI) shares were down 6.6% on Thursday after BMO Capital Markets lowered their price target on the stock from $33.00 to $28.00. BMO Capital Markets currently has a market perform rating on the stock. Ryerson traded as low as $23.07 and last traded at $23.14. Approximately 43,705 shares were traded during trading, a decline of 80% from the average daily volume of 220,715 shares. The stock had previously closed at $24.78.

Insiders Place Their Bets

In related news, insider Alagu Sundarrajan sold 2,593 shares of Ryerson stock in a transaction on Monday, March 25th. The stock was sold at an average price of $32.52, for a total transaction of $84,324.36. Following the transaction, the insider now directly owns 10,484 shares in the company, valued at $340,939.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.88% of the company’s stock.

Institutional Trading of Ryerson

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new position in shares of Ryerson during the 3rd quarter valued at approximately $27,000. New York State Teachers Retirement System boosted its position in shares of Ryerson by 46.5% in the fourth quarter. New York State Teachers Retirement System now owns 2,518 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 799 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Ryerson by 7.5% in the third 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. SG Americas Securities LLC bought a new stake in shares of Ryerson during the 3rd quarter valued at $219,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Ryerson during the 3rd quarter valued at $234,000. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Stock Performance

The company has a current ratio of 2.18, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The company has a market cap of $789.94 million, a PE ratio of 9.13 and a beta of 1.69. The business’s 50 day moving average is $31.91 and its two-hundred day moving average is $31.67.

Ryerson (NYSE:RYI) last announced its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.24 by $0.49. Ryerson had a return on equity of 10.28% and a net margin of 1.84%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business 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 issued a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, June 6th. Ryerson’s dividend payout ratio (DPR) is currently 29.07%.

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.