Ryerson (NYSE:RYI) Shares Down 5.4% - What's Next?

Ryerson Holding Co. (NYSE:RYI - Get Free Report) shares fell 5.4% during mid-day trading on Friday . The company traded as low as $23.55 and last traded at $23.13. 48,386 shares were traded during mid-day trading, a decline of 84% from the average session volume of 297,507 shares. The stock had previously closed at $24.45.

Wall Street Analysts Forecast Growth

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

Ryerson Trading Up 1.0 %

The stock's fifty day moving average price is $22.78 and its 200 day moving average price is $21.88. The stock has a market capitalization of $736.71 million, a P/E ratio of -88.94 and a beta of 1.53. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.22 and a quick ratio of 1.06.

Ryerson (NYSE:RYI - Get Free Report) last issued its earnings results on Thursday, February 20th. The basic materials company reported ($0.14) 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 the consensus estimate of $1 billion. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. Research analysts forecast that Ryerson Holding Co. will post 1.2 earnings per share for the current year.

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Ryerson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.1875 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.75 annualized dividend and a dividend yield of 3.24%. Ryerson's payout ratio is currently -288.46%.

Insiders Place Their Bets

In related news, CFO James J. Claussen sold 6,017 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $25.30, for a total value of $152,230.10. Following the completion of the transaction, the chief financial officer now owns 58,773 shares of the company's stock, valued at $1,486,956.90. The trade was a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward J. Lehner sold 10,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $24.79, for a total value of $247,900.00. Following the sale, the chief executive officer now directly owns 593,228 shares in the company, valued at $14,706,122.12. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. 3.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryerson

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in Ryerson by 85.8% in the fourth quarter. Franklin Resources Inc. now owns 2,329,803 shares of the basic materials company's stock worth $43,125,000 after purchasing an additional 1,075,963 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Ryerson in the 4th quarter worth approximately $6,255,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $16,874,000 after acquiring an additional 203,314 shares in the last quarter. JB Capital Partners LP lifted its position in Ryerson by 4.0% during the third quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company's stock valued at $42,430,000 after acquiring an additional 82,313 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Ryerson by 7.9% during the fourth quarter. American Century Companies Inc. now owns 930,439 shares of the basic materials company's stock valued at $17,222,000 after acquiring an additional 68,022 shares during the last quarter. 94.81% of the stock is currently 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.