Ryerson (NYSE:RYI) Stock Price Up 6.8% – Here’s Why

Shares of Ryerson Holding Co. (NYSE:RYI) rose 6.8% during mid-day trading on Monday . The company traded as high as $19.53 and last traded at $19.36. Approximately 33,727 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 236,516 shares. The stock had previously closed at $18.12.

Ryerson Trading Up 5.2 %

The stock has a 50 day moving average price of $22.33 and a 200-day moving average price of $21.11. The stock has a market capitalization of $607.00 million, a PE ratio of 31.25 and a beta of 1.59. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Ryerson (NYSE:RYI) last announced its earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). The company had revenue of $1.13 billion during the quarter. Ryerson had a return on equity of 2.66% and a net margin of 0.46%. During the same quarter in the prior year, the company posted $1.00 earnings per share.

Ryerson Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Thursday, December 5th. Ryerson’s payout ratio is presently 122.95%.

Insider Buying and Selling at Ryerson

In other news, EVP Mark S. Silver sold 9,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $24.56, for a total value of $221,040.00. Following the sale, the executive vice president now owns 107,664 shares of the company’s stock, valued at approximately $2,644,227.84. This represents a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in Ryerson by 164.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company’s stock worth $22,906,000 after purchasing an additional 715,990 shares in the last quarter. Bank of Montreal Can purchased a new position in Ryerson during the 2nd quarter worth approximately $5,372,000. Charles Schwab Investment Management Inc. raised its position in Ryerson by 31.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company’s stock worth $16,874,000 after buying an additional 203,314 shares during the last quarter. American Century Companies Inc. raised its position in Ryerson by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 783,631 shares of the basic materials company’s stock worth $15,281,000 after buying an additional 97,556 shares during the last quarter. Finally, JB Capital Partners LP raised its position in Ryerson by 4.0% during the 3rd quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company’s stock worth $42,430,000 after buying an additional 82,313 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Company Profile

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.