Ryerson (NYSE:RYI) Trading Down 5.7% – Here’s Why

Ryerson Holding Corporation (NYSE:RYI)’s stock price traded down 5.7% during mid-day trading on Wednesday . The stock traded as low as $23.75 and last traded at $23.8040. 483,114 shares were traded during mid-day trading, an increase of 18% from the average session volume of 409,775 shares. The stock had previously closed at $25.23.

Wall Street Analyst Weigh In

RYI has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ryerson in a research report on Monday, December 29th. Zacks Research raised shares of Ryerson to a “hold” rating in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $25.00.

Ryerson Stock Down 6.3%

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.98 and a quick ratio of 0.95. The stock has a market capitalization of $761.03 million, a price-to-earnings ratio of -33.28 and a beta of 1.58. The firm’s fifty day moving average is $27.35 and its 200-day moving average is $24.09.

Ryerson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.75 annualized dividend and a dividend yield of 3.2%. Ryerson’s dividend payout ratio (DPR) is presently -105.63%.

Insider Activity

In other Ryerson news, CFO James J. Claussen sold 4,972 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.00, for a total transaction of $149,160.00. Following the completion of the sale, the chief financial officer owned 74,284 shares in the company, valued at $2,228,520. The trade was a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward J. Lehner sold 59,001 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $30.06, for a total transaction of $1,773,570.06. Following the sale, the chief executive officer directly owned 593,228 shares in the company, valued at $17,832,433.68. This trade represents a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 64,973 shares of company stock valued at $1,952,740. 3.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ryerson

Several large investors have recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Ryerson by 97.7% during the second quarter. CWM LLC now owns 1,866 shares of the basic materials company’s stock valued at $40,000 after buying an additional 922 shares during the last quarter. Allianz Asset Management GmbH increased its position in Ryerson by 14.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 232,399 shares of the basic materials company’s stock valued at $5,013,000 after acquiring an additional 29,101 shares during the period. Teacher Retirement System of Texas raised its stake in Ryerson by 61.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 38,746 shares of the basic materials company’s stock valued at $836,000 after acquiring an additional 14,725 shares in the last quarter. Geode Capital Management LLC boosted its position in Ryerson by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 644,892 shares of the basic materials company’s stock worth $13,912,000 after acquiring an additional 6,000 shares during the period. Finally, LSV Asset Management boosted its position in Ryerson by 11.7% during the 2nd quarter. LSV Asset Management now owns 135,170 shares of the basic materials company’s stock worth $2,916,000 after acquiring an additional 14,200 shares during the period. Institutional investors and hedge funds own 94.81% of the company’s stock.

Ryerson Company Profile

Ryerson, Inc is a North American metals distributor and processor serving a broad range of industrial and manufacturing end markets. Headquartered in Chicago, Illinois, the company supplies carbon steels, stainless alloys, aluminum, brass and copper products to customers across the United States, Canada and Mexico. Through its extensive branch network, Ryerson provides just-in-time delivery and comprehensive inventory management solutions to support complex production schedules and tight lead-time requirements.

In addition to raw material distribution, Ryerson offers a suite of value-added processing services, including laser and plasma cutting, plate burning, sawing, shearing, forming, drilling and welding.