Ryerson (NYSE:RYI) Stock Price Up 6.8% – Here’s What Happened

Ryerson Holding Co. (NYSE:RYI) shares rose 6.8% during trading on Monday . The stock traded as high as $19.53 and last traded at $19.36. Approximately 33,727 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 236,516 shares. The stock had previously closed at $18.12.

Ryerson Stock Performance

The company has a market capitalization of $607.00 million, a P/E ratio of 31.25 and a beta of 1.59. The company’s fifty day moving average is $22.33 and its 200 day moving average is $21.11. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Ryerson (NYSE:RYI) last announced its earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Ryerson had a net margin of 0.46% and a return on equity of 2.66%. The company had revenue of $1.13 billion during the quarter. During the same quarter in the prior year, the company earned $1.00 earnings per share.

Ryerson Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Thursday, December 5th. Ryerson’s dividend payout ratio is 122.95%.

Insider Transactions at Ryerson

In other news, EVP Mark S. Silver sold 9,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $24.56, for a total transaction of $221,040.00. Following the sale, the executive vice president now owns 107,664 shares in the company, valued at approximately $2,644,227.84. The trade was a 7.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Ryerson

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JB Capital Partners LP boosted its stake in Ryerson by 4.0% during the 3rd quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company’s stock valued at $42,430,000 after purchasing an additional 82,313 shares during the last quarter. State Street Corp boosted its stake in Ryerson by 3.2% during the 3rd quarter. State Street Corp now owns 1,411,397 shares of the basic materials company’s stock valued at $28,101,000 after purchasing an additional 43,780 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Ryerson by 164.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company’s stock valued at $22,906,000 after purchasing an additional 715,990 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ryerson by 31.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company’s stock valued at $16,874,000 after purchasing an additional 203,314 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Ryerson by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 783,631 shares of the basic materials company’s stock valued at $15,281,000 after purchasing an additional 97,556 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

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.