Ryerson (NYSE:RYI) Trading 3.6% Higher Following Analyst Upgrade

Ryerson Holding Co. (NYSE:RYI - Get Free Report)'s stock price rose 3.6% on Monday after BMO Capital Markets raised their price target on the stock from $23.00 to $25.00. BMO Capital Markets currently has a market perform rating on the stock. Ryerson traded as high as $25.56 and last traded at $25.16. Approximately 76,116 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 245,931 shares. The stock had previously closed at $24.30.

Insider Activity

In related news, CFO James J. Claussen sold 6,017 shares of the 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 completion of the sale, the chief financial officer now owns 58,773 shares in the company, valued at approximately $1,486,956.90. This trade represents a 9.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryerson

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in Ryerson by 85.8% during the fourth quarter. Franklin Resources Inc. now owns 2,329,803 shares of the basic materials company's stock worth $43,125,000 after buying an additional 1,075,963 shares in the last quarter. Victory Capital Management Inc. raised its position in Ryerson by 164.8% in the third quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company's stock worth $22,906,000 after purchasing an additional 715,990 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new position in Ryerson in the fourth quarter worth about $6,255,000. Charles Schwab Investment Management Inc. grew its stake in shares of 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 valued at $16,874,000 after purchasing an additional 203,314 shares during the period. Finally, JB Capital Partners LP lifted its position in shares of Ryerson by 4.0% during the 3rd quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company's stock worth $42,430,000 after buying an additional 82,313 shares during the period. Institutional investors and hedge funds own 94.81% of the company's stock.

Ryerson Stock Down 3.5 %

The business has a 50-day simple moving average of $20.94 and a two-hundred day simple moving average of $21.30. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $795.48 million, a P/E ratio of -96.06 and a beta of 1.59.

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

Ryerson Dividend Announcement

The firm 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 $0.1875 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.75 annualized dividend and a yield of 3.00%. Ryerson's payout ratio is -288.46%.

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.