Ryerson Holding Corp. (RYI) Shares Up 4.6%
Ryerson Holding Corp. (NYSE:RYI) shot up 4.6% during mid-day trading on Wednesday . The company traded as high as $11.03 and last traded at $10.86, with a volume of 147,914 shares trading hands. The stock had previously closed at $10.38.
A number of research firms have recently issued reports on RYI. Jefferies Group cut their price target on shares of Ryerson Holding Corp. from $14.50 to $12.00 and set a “hold” rating on the stock in a report on Thursday, September 15th. JPMorgan Chase & Co. upped their price objective on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. BMO Capital Markets upped their price objective on shares of Ryerson Holding Corp. from $10.00 to $13.00 and gave the company a “market perform” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research lowered shares of Ryerson Holding Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Ryerson Holding Corp. currently has a consensus rating of “Hold” and a consensus target price of $11.50.
The firm’s 50-day moving average is $12.28 and its 200-day moving average is $11.46. The company has a market cap of $414.40 million, a PE ratio of 68.95 and a beta of 2.19.
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Ryerson Holding Corp. (NYSE:RYI) last issued its earnings results on Wednesday, August 10th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. Ryerson Holding Corp. had a net margin of 0.18% and a negative return on equity of 14.34%. Equities research analysts expect that Ryerson Holding Corp. will post $1.56 earnings per share for the current year.
In other Ryerson Holding Corp. news, insider Kevin D. Richardson bought 2,750 shares of Ryerson Holding Corp. stock in a transaction dated Tuesday, August 16th. The shares were bought at an average price of $12.00 per share, with a total value of $33,000.00. Following the purchase, the insider now owns 57,750 shares of the company’s stock, valued at $693,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Edward J. Lehner bought 7,060 shares of Ryerson Holding Corp. stock in a transaction dated Friday, August 12th. The stock was acquired at an average cost of $12.00 per share, for a total transaction of $84,720.00. Following the purchase, the chief executive officer now directly owns 79,060 shares in the company, valued at approximately $948,720. The disclosure for this purchase can be found here. 0.90% 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. ClariVest Asset Management LLC purchased a new position in Ryerson Holding Corp. during the second quarter valued at $2,708,000. Lucus Advisors LLC purchased a new position in Ryerson Holding Corp. during the second quarter valued at $363,000. Smith Asset Management Group LP purchased a new position in Ryerson Holding Corp. during the second quarter valued at $397,000. Bank of Montreal Can purchased a new position in Ryerson Holding Corp. during the second quarter valued at $195,000. Finally, First Quadrant L P CA raised its position in Ryerson Holding Corp. by 725.7% in the second quarter. First Quadrant L P CA now owns 28,900 shares of the company’s stock valued at $506,000 after buying an additional 25,400 shares during the last quarter. 29.13% of the stock is currently owned by institutional investors and hedge funds.
Ryerson Holding Corp. Company Profile
Ryerson Holding Corporation (Ryerson Holding) is a service center company for carbon and stainless steel, as well as aluminum. The Company processes and distributes a full line of over 70,000 products in stainless steel, aluminum, carbon steel and alloy steels, and a limited line of nickel and red metals in various shapes and forms.
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