Ryerson Holding Corp (NYSE:RYI) Short Interest Up 37.9% in May

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Ryerson Holding Corp (NYSE:RYI) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 261,600 shares, an increase of 37.9% from the April 30th total of 189,700 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 159,600 shares, the short-interest ratio is presently 1.6 days.

A number of equities research analysts have recently issued reports on RYI shares. ValuEngine lowered shares of Ryerson from a “sell” rating to a “strong sell” rating in a report on Thursday, April 11th. Deutsche Bank downgraded shares of Ryerson from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research note on Wednesday, April 10th. Finally, Zacks Investment Research upgraded shares of Ryerson from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, May 8th.

RYI opened at $7.64 on Thursday. The company has a debt-to-equity ratio of 10.69, a quick ratio of 1.01 and a current ratio of 2.34. Ryerson has a 1-year low of $5.99 and a 1-year high of $12.85. The company has a market capitalization of $267.89 million, a price-to-earnings ratio of 7.14 and a beta of 1.93.

Ryerson (NYSE:RYI) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.22. Ryerson had a return on equity of 76.79% and a net margin of 2.66%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business earned $0.28 earnings per share. The business’s revenue was up 30.8% compared to the same quarter last year. Sell-side analysts forecast that Ryerson will post 2.27 EPS for the current fiscal year.

In other news, insider Michael Burbach acquired 4,000 shares of Ryerson stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $8.49 per share, with a total value of $33,960.00. Following the purchase, the insider now owns 110,090 shares in the company, valued at $934,664.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen P. Larson acquired 20,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of $8.55 per share, for a total transaction of $171,000.00. Following the acquisition, the director now directly owns 40,000 shares in the company, valued at approximately $342,000. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 29,171 shares of company stock worth $248,176. 1.36% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RYI. Towle & Co. raised its holdings in shares of Ryerson by 0.5% in the fourth quarter. Towle & Co. now owns 2,219,642 shares of the basic materials company’s stock valued at $14,073,000 after buying an additional 10,217 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ryerson by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,295,114 shares of the basic materials company’s stock worth $8,211,000 after purchasing an additional 97,085 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ryerson by 1.2% during the third quarter. Vanguard Group Inc. now owns 808,617 shares of the basic materials company’s stock worth $9,137,000 after purchasing an additional 9,565 shares during the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of Ryerson by 5.8% during the fourth quarter. Penn Capital Management Co. Inc. now owns 361,851 shares of the basic materials company’s stock worth $2,294,000 after purchasing an additional 19,984 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Ryerson by 9.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 313,924 shares of the basic materials company’s stock worth $1,990,000 after purchasing an additional 26,966 shares during the period. 35.87% of the stock is currently owned by institutional investors.

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About Ryerson

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structurals, and tubing.

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