Ryerson (NYSE:RYI) Trading 6.8% Higher – Time to Buy?

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

Ryerson Trading Up 1.8 %

The company has a fifty day moving average price of $22.25 and a 200-day moving average price of $21.11. The firm has a market capitalization of $636.62 million, a price-to-earnings ratio of 32.77 and a beta of 1.59. 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 posted its earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.26). Ryerson had a return on equity of 2.66% and a net margin of 0.46%. The business had revenue of $1.13 billion during the quarter. During the same period last year, the company earned $1.00 earnings per share.

Ryerson Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, December 5th. Ryerson’s payout ratio is 122.95%.

Insiders Place Their Bets

In other news, EVP Mark S. Silver sold 9,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $24.56, for a total value of $221,040.00. Following the sale, the executive vice president now directly owns 107,664 shares of the company’s stock, valued at approximately $2,644,227.84. This trade represents a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.88% of the company’s stock.

Institutional Trading of Ryerson

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Ryerson by 3.2% during the third quarter. State Street Corp now owns 1,411,397 shares of the basic materials company’s stock worth $28,101,000 after buying an additional 43,780 shares during the last quarter. Denali Advisors LLC increased its position in Ryerson by 34.3% during the second quarter. Denali Advisors LLC now owns 213,807 shares of the basic materials company’s stock worth $4,169,000 after acquiring an additional 54,621 shares during the period. Renaissance Technologies LLC raised its stake in Ryerson by 34.1% during the 2nd quarter. Renaissance Technologies LLC now owns 278,600 shares of the basic materials company’s stock valued at $5,433,000 after purchasing an additional 70,901 shares during the last quarter. Barclays PLC boosted its holdings in Ryerson by 167.0% in the 3rd quarter. Barclays PLC now owns 55,330 shares of the basic materials company’s stock valued at $1,101,000 after purchasing an additional 34,604 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Ryerson by 31.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company’s stock worth $16,874,000 after purchasing an additional 203,314 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.

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.