Ryerson (NYSE:RYI) Stock Price Up 6.8% – What’s Next?

Ryerson Holding Co. (NYSE:RYI) shares were up 6.8% during mid-day trading on Monday . The stock traded as high as $19.53 and last traded at $19.36. Approximately 33,727 shares were traded during 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 fifty day simple moving average of $22.25 and a 200 day simple moving average of $21.11. 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 stock has a market cap of $636.62 million, a price-to-earnings ratio of 32.77 and a beta of 1.59.

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

Ryerson Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.1875 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.75 dividend on an annualized basis and a yield of 3.75%. Ryerson’s payout ratio is currently 122.95%.

Insiders Place Their Bets

In related news, EVP Mark S. Silver sold 9,000 shares of the business’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 $2,644,227.84. The trade was a 7.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Ryerson

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd lifted its holdings in Ryerson by 16.7% during the 2nd quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 837 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Ryerson by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 15,626 shares of the basic materials company’s stock worth $305,000 after buying an additional 1,157 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Ryerson in the second quarter valued at approximately $39,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ryerson by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 75,339 shares of the basic materials company’s stock worth $1,469,000 after acquiring an additional 2,529 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new stake in Ryerson during the 3rd quarter worth approximately $56,000. 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.