Ryerson (NYSE:RYI) Trading Down 5.4% – Here’s Why

Ryerson Holding Co. (NYSE:RYI)’s stock price dropped 5.4% during trading on Friday . The company traded as low as $23.55 and last traded at $23.13. Approximately 48,386 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 297,507 shares. The stock had previously closed at $24.45.

Analyst Ratings Changes

Separately, BMO Capital Markets lifted their target price on shares of Ryerson from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Monday, February 24th.

Ryerson Stock Performance

The firm has a market cap of $737.99 million, a P/E ratio of -89.29 and a beta of 1.53. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $22.69 and its 200-day simple moving average is $21.81.

Ryerson (NYSE:RYI) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.34. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. As a group, sell-side analysts expect that Ryerson Holding Co. will post 1.2 earnings per share for the current year.

Ryerson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, March 6th. Ryerson’s payout ratio is -288.46%.

Insider Activity

In other Ryerson news, CEO Edward J. Lehner sold 10,000 shares of Ryerson stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $24.79, for a total value of $247,900.00. Following the completion of the transaction, the chief executive officer now directly owns 593,228 shares of the company’s stock, valued at approximately $14,706,122.12. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James J. Claussen sold 6,017 shares of Ryerson stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $25.30, for a total transaction of $152,230.10. Following the completion of the transaction, the chief financial officer now directly owns 58,773 shares of the company’s stock, valued at $1,486,956.90. This trade represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in shares of Ryerson by 20.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 52,557 shares of the basic materials company’s stock valued at $973,000 after purchasing an additional 9,040 shares during the last quarter. Towle & Co. raised its holdings in shares of Ryerson by 3.3% during the fourth quarter. Towle & Co. now owns 554,868 shares of the basic materials company’s stock valued at $10,271,000 after purchasing an additional 17,925 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Ryerson by 48.3% during the fourth quarter. Millennium Management LLC now owns 57,600 shares of the basic materials company’s stock valued at $1,066,000 after purchasing an additional 18,748 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ryerson by 7.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 704,448 shares of the basic materials company’s stock valued at $13,039,000 after purchasing an additional 49,905 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Ryerson by 12.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 542,433 shares of the basic materials company’s stock valued at $10,040,000 after purchasing an additional 62,092 shares during the last quarter. 94.81% 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 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.