Ryerson (NYSE:RYI) Reaches New 12-Month Low at $17.97

Ryerson Holding Co. (NYSE:RYI) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $17.97 and last traded at $18.04, with a volume of 39278 shares trading hands. The stock had previously closed at $18.46.

Analyst Ratings Changes

A number of brokerages have weighed in on RYI. StockNews.com cut Ryerson from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. BMO Capital Markets lowered their price target on Ryerson from $33.00 to $28.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd.

Ryerson Stock Up 0.9 %

The firm has a 50 day simple moving average of $21.08 and a two-hundred day simple moving average of $26.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.38 and a quick ratio of 1.11. The stock has a market cap of $603.58 million, a price-to-earnings ratio of 6.90 and a beta of 1.61.

Ryerson (NYSE:RYI) last announced its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.13. Ryerson had a return on equity of 7.27% and a net margin of 1.31%. The company had revenue of $1.23 billion during the quarter. During the same quarter last year, the company earned $1.06 earnings per share.

Ryerson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a dividend of $0.188 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.14%. Ryerson’s payout ratio is presently 29.07%.

Insider Buying and Selling

In related news, Director Karen Marie Leggio purchased 2,127 shares of Ryerson stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $23.50 per share, with a total value of $49,984.50. Following the completion of the transaction, the director now owns 2,127 shares of the company’s stock, valued at approximately $49,984.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.88% of the stock is owned by corporate insiders.

Institutional Trading of Ryerson

A number of hedge funds have recently made changes to their positions in RYI. New York State Teachers Retirement System lifted 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 valued at $87,000 after buying an additional 799 shares during the last quarter. Strs Ohio lifted its position in shares of Ryerson by 2.8% in the fourth quarter. Strs Ohio now owns 21,700 shares of the basic materials company’s stock valued at $752,000 after buying an additional 600 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of Ryerson in the fourth quarter valued at approximately $1,060,000. Wedge Capital Management L L P NC lifted its position in shares of Ryerson by 23.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 17,651 shares of the basic materials company’s stock valued at $612,000 after buying an additional 3,396 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Ryerson by 35.6% during the 4th quarter. New York State Common Retirement Fund now owns 70,299 shares of the basic materials company’s stock worth $2,438,000 after purchasing an additional 18,466 shares during the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

About Ryerson

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.