Ryerson (NYSE:RYI) Price Target Raised to $25.00 at BMO Capital Markets

Ryerson (NYSE:RYI - Free Report) had its price target lifted by BMO Capital Markets from $23.00 to $25.00 in a report released on Monday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company's stock.

Ryerson Stock Performance

NYSE:RYI traded down $0.90 during mid-day trading on Monday, hitting $24.98. The stock had a trading volume of 466,479 shares, compared to its average volume of 267,123. The company's 50 day simple moving average is $20.94 and its 200 day simple moving average is $21.30. The stock has a market cap of $795.48 million, a price-to-earnings ratio of -96.06 and a beta of 1.59. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22. Ryerson has a twelve month low of $17.18 and a twelve month high of $34.65.

Ryerson (NYSE:RYI - Get Free Report) last posted its earnings results on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.48) by $0.34. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. On average, equities research analysts forecast that Ryerson will post 1.2 earnings per share for the current year.

Ryerson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.1875 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.75 annualized dividend and a yield of 3.00%. Ryerson's dividend payout ratio (DPR) is presently -288.46%.

Insider Transactions at Ryerson

In related news, CFO James J. Claussen sold 6,017 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $25.30, for a total value of $152,230.10. Following the transaction, the chief financial officer now directly owns 58,773 shares in the company, valued at approximately $1,486,956.90. This represents a 9.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.88% of the stock is owned by corporate insiders.

Institutional Trading of Ryerson

Institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new position in Ryerson in the fourth quarter valued at about $54,000. Tower Research Capital LLC TRC increased its holdings in Ryerson by 488.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company's stock valued at $68,000 after buying an additional 3,061 shares during the period. SG Americas Securities LLC acquired a new position in shares of Ryerson in the 3rd quarter valued at approximately $108,000. FMR LLC lifted its holdings in shares of Ryerson by 159.7% during the 3rd quarter. FMR LLC now owns 7,649 shares of the basic materials company's stock worth $152,000 after acquiring an additional 4,704 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Ryerson during the 3rd quarter worth approximately $202,000. 94.81% of the stock is currently owned by 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.