Ryerson (NYSE:RYI) Hits New 52-Week Low at $19.48

Shares of Ryerson Holding Co. (NYSE:RYIGet Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $19.48 and last traded at $19.56, with a volume of 46282 shares trading hands. The stock had previously closed at $20.05.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RYI. StockNews.com downgraded Ryerson from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. BMO Capital Markets lowered their price objective on Ryerson from $33.00 to $28.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd.

Read Our Latest Research Report on Ryerson

Ryerson Stock Down 1.3 %

The company has a quick ratio of 0.94, a current ratio of 2.09 and a debt-to-equity ratio of 0.55. The company has a 50-day simple moving average of $24.42 and a two-hundred day simple moving average of $30.00. The stock has a market cap of $679.25 million, a P/E ratio of 7.77 and a beta of 1.63.

Ryerson (NYSE:RYIGet Free Report) last announced its earnings results on Tuesday, April 30th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.47). The business had revenue of $1.24 billion for the quarter. Ryerson had a net margin of 1.84% and a return on equity of 10.27%.

Ryerson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $0.188 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.80%. Ryerson’s dividend payout ratio is presently 29.07%.

Insider Activity at Ryerson

In other Ryerson news, Director Karen Marie Leggio bought 2,127 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $23.50 per share, for a total transaction of $49,984.50. Following the completion of the acquisition, the director now directly owns 2,127 shares in the company, valued at $49,984.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Karen Marie Leggio purchased 2,127 shares of Ryerson stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $23.50 per share, with a total value of $49,984.50. Following the completion of the purchase, the director now directly owns 2,127 shares in the company, valued at $49,984.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Burbach purchased 4,000 shares of Ryerson stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $23.75 per share, for a total transaction of $95,000.00. Following the completion of the purchase, the chief operating officer now owns 226,263 shares of the company’s stock, valued at $5,373,746.25. The disclosure for this purchase can be found here. 3.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ryerson

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Ryerson by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,258,261 shares of the basic materials company’s stock worth $78,318,000 after acquiring an additional 79,139 shares during the last quarter. Denali Advisors LLC grew its stake in shares of Ryerson by 43.9% in the fourth quarter. Denali Advisors LLC now owns 144,035 shares of the basic materials company’s stock worth $4,995,000 after acquiring an additional 43,919 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ryerson by 16.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 444,476 shares of the basic materials company’s stock worth $15,414,000 after acquiring an additional 62,384 shares during the last quarter. CastleKnight Management LP purchased a new stake in shares of Ryerson during the fourth quarter valued at $3,087,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Ryerson by 47.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company’s stock valued at $17,053,000 after buying an additional 189,517 shares during the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

About Ryerson

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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.

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