Zacks Investment Research upgraded shares of Ryerson (NYSE:RYI) from a sell rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago. “

Shares of NYSE:RYI opened at $8.77 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 2.48 and a debt-to-equity ratio of 14.84. Ryerson has a one year low of $5.99 and a one year high of $12.95. The firm has a market capitalization of $328.46 million, a price-to-earnings ratio of 8.20 and a beta of 1.99.

A number of large investors have recently made changes to their positions in RYI. Northern Trust Corp boosted its holdings in Ryerson by 4.5% in the 2nd quarter. Northern Trust Corp now owns 179,293 shares of the basic materials company’s stock valued at $1,999,000 after purchasing an additional 7,639 shares during the period. Russell Investments Group Ltd. boosted its holdings in Ryerson by 18.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 85,091 shares of the basic materials company’s stock valued at $962,000 after purchasing an additional 13,527 shares during the period. Acadian Asset Management LLC boosted its holdings in Ryerson by 28.9% in the 3rd quarter. Acadian Asset Management LLC now owns 104,422 shares of the basic materials company’s stock valued at $1,180,000 after purchasing an additional 23,421 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Ryerson by 59.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 20,986 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 7,850 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Ryerson by 20.1% in the 3rd quarter. Prudential Financial Inc. now owns 245,698 shares of the basic materials company’s stock valued at $2,776,000 after purchasing an additional 41,154 shares during the period. 37.38% of the stock is owned by hedge funds and other institutional investors.

Ryerson Company Profile

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural products, and tubing.

Further Reading: Return on Equity (ROE)

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