Ryerson (NYSE:RYI) Stock Rating Lowered by StockNews.com

Ryerson (NYSE:RYI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Separately, BMO Capital Markets increased their price objective on shares of Ryerson from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Monday, February 24th.

Ryerson Price Performance

Shares of NYSE RYI opened at $20.82 on Friday. 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 company has a market capitalization of $670.32 million, a PE ratio of -80.08 and a beta of 1.64. The firm has a fifty day simple moving average of $22.55 and a 200 day simple moving average of $22.43. Ryerson has a twelve month low of $17.18 and a twelve month high of $27.41.

Ryerson (NYSE:RYI) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.16 billion. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. On average, sell-side analysts forecast that Ryerson will post 1.2 EPS for the current year.

Insider Buying and Selling at Ryerson

In other Ryerson news, CFO James J. Claussen sold 6,017 shares of Ryerson stock in a transaction on Monday, February 24th. The shares were sold at an average price of $25.30, for a total transaction of $152,230.10. Following the transaction, the chief financial officer now directly owns 58,773 shares of the company’s stock, valued at $1,486,956.90. The trade was a 9.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward J. Lehner sold 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $24.79, for a total transaction of $247,900.00. Following the completion of the sale, the chief executive officer now owns 593,228 shares of the company’s stock, valued at approximately $14,706,122.12. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.95% of the company’s stock.

Hedge Funds Weigh In On Ryerson

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its holdings 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 acquiring an additional 1,075,963 shares during the period. Victory Capital Management Inc. raised its stake in shares of Ryerson by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,215,679 shares of the basic materials company’s stock worth $22,502,000 after purchasing an additional 65,181 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ryerson by 17.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,190,988 shares of the basic materials company’s stock worth $27,345,000 after purchasing an additional 176,878 shares during the period. American Century Companies Inc. boosted its holdings in shares of Ryerson by 7.9% in the 4th quarter. American Century Companies Inc. now owns 930,439 shares of the basic materials company’s stock worth $17,222,000 after buying an additional 68,022 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in Ryerson by 2.0% during the fourth quarter. William Blair Investment Management LLC now owns 855,246 shares of the basic materials company’s stock valued at $15,831,000 after buying an additional 17,075 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

About Ryerson

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.