Ryerson (NYSE:RYI) Trading Up 6.8% - Here's Why

Ryerson Holding Co. (NYSE:RYI - Get Free Report)'s stock price rose 6.8% during mid-day trading on Monday . The company traded as high as $19.53 and last traded at $19.36. Approximately 33,727 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 236,516 shares. The stock had previously closed at $18.12.

Ryerson Stock Performance

The firm has a market cap of $628.34 million, a price-to-earnings ratio of 32.34 and a beta of 1.59. 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 fifty day moving average price of $22.33 and a 200-day moving average price of $21.11.

Ryerson (NYSE:RYI - Get Free Report) last released its earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.26). Ryerson had a net margin of 0.46% and a return on equity of 2.66%. The company had revenue of $1.13 billion during the quarter. During the same quarter in the prior year, the firm posted $1.00 earnings per share.

Ryerson Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Thursday, December 5th. Ryerson's dividend payout ratio is presently 122.95%.

Insider Buying and Selling

In other Ryerson news, EVP Mark S. Silver sold 9,000 shares of the company's stock in a transaction on 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 owns 107,664 shares of the company's stock, valued at approximately $2,644,227.84. This represents a 7.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Ryerson

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Ryerson by 7.9% in the second quarter. Principal Financial Group Inc. now owns 13,623 shares of the basic materials company's stock valued at $266,000 after acquiring an additional 1,003 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Ryerson by 10.5% in the second quarter. Rhumbline Advisers now owns 47,407 shares of the basic materials company's stock valued at $924,000 after acquiring an additional 4,521 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Ryerson by 983.8% in the second quarter. Victory Capital Management Inc. now owns 434,508 shares of the basic materials company's stock valued at $8,473,000 after acquiring an additional 394,415 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Ryerson by 14.2% in the second quarter. American Century Companies Inc. now owns 783,631 shares of the basic materials company's stock valued at $15,281,000 after acquiring an additional 97,556 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Ryerson by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 75,339 shares of the basic materials company's stock valued at $1,469,000 after acquiring an additional 2,529 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company's stock.

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.