Ryerson (NYSE:RYI) Cut to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Ryerson (NYSE:RYI) from a sell rating to a strong sell rating in a research note published on Thursday, ValuEngine reports.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Ryerson from a sell rating to a hold rating in a report on Wednesday, July 24th. Deutsche Bank set a $10.00 price target on shares of Ryerson and gave the stock a hold rating in a report on Thursday, July 11th.

RYI traded down $0.05 during trading on Thursday, hitting $7.74. The company had a trading volume of 124,987 shares, compared to its average volume of 139,929. The stock has a market capitalization of $294.33 million, a P/E ratio of 7.23 and a beta of 1.87. Ryerson has a one year low of $5.99 and a one year high of $11.90. The stock has a 50-day moving average of $7.86. The company has a debt-to-equity ratio of 10.69, a current ratio of 2.34 and a quick ratio of 1.01.

Ryerson (NYSE:RYI) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.22. Ryerson had a net margin of 2.66% and a return on equity of 76.79%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm earned $0.28 EPS. Ryerson’s quarterly revenue was up 30.8% compared to the same quarter last year. Equities research analysts predict that Ryerson will post 2.16 earnings per share for the current year.

In other news, insider Michael Burbach purchased 4,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $8.49 per share, with a total value of $33,960.00. Following the acquisition, the insider now owns 110,090 shares in the company, valued at approximately $934,664.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

A number of large investors have recently modified their holdings of RYI. Bank of New York Mellon Corp lifted its stake in Ryerson by 62.2% in the 4th quarter. Bank of New York Mellon Corp now owns 274,066 shares of the basic materials company’s stock valued at $1,737,000 after purchasing an additional 105,046 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Ryerson by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,295,114 shares of the basic materials company’s stock valued at $8,211,000 after purchasing an additional 97,085 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Ryerson by 264.8% in the 4th quarter. New York State Common Retirement Fund now owns 64,561 shares of the basic materials company’s stock valued at $409,000 after purchasing an additional 46,861 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Ryerson by 36.6% in the 1st quarter. Victory Capital Management Inc. now owns 140,840 shares of the basic materials company’s stock valued at $1,206,000 after purchasing an additional 37,765 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Ryerson by 27.4% in the 1st quarter. Acadian Asset Management LLC now owns 175,474 shares of the basic materials company’s stock valued at $1,502,000 after purchasing an additional 37,712 shares during the last quarter. 35.87% of the stock is owned by institutional investors and hedge funds.

Ryerson Company Profile

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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