Ryerson (NYSE:RYI) Trading 13.7% Higher – Still a Buy?

Ryerson Holding Co. (NYSE:RYI) shares rose 13.7% during mid-day trading on Wednesday . The stock traded as high as $25.45 and last traded at $25.44. Approximately 54,030 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 311,819 shares. The stock had previously closed at $22.38.

Ryerson Trading Up 16.7 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.22 and a quick ratio of 1.06. The firm has a market capitalization of $831.92 million, a P/E ratio of 42.82 and a beta of 1.54. The business’s 50-day moving average is $20.35 and its 200 day moving average is $21.56.

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

Ryerson Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.87%. Ryerson’s dividend payout ratio (DPR) is currently 122.95%.

Institutional Investors Weigh In On Ryerson

Hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in Ryerson during the 2nd quarter worth approximately $39,000. Copeland Capital Management LLC acquired a new stake in Ryerson in the third quarter valued at $56,000. SG Americas Securities LLC bought a new position in Ryerson during the 3rd quarter worth $108,000. Point72 DIFC Ltd lifted its holdings in Ryerson by 16.7% during the 2nd quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock worth $114,000 after buying an additional 837 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ryerson by 41.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,685 shares of the basic materials company’s stock valued at $150,000 after buying an additional 2,259 shares during the last quarter. Institutional investors and hedge funds 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.