Ryerson (NYSE:RYI) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Shares of Ryerson Holding Corporation (NYSE:RYI) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $26.17 and traded as high as $29.58. Ryerson shares last traded at $29.2590, with a volume of 324,670 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RYI. Zacks Research upgraded Ryerson to a “hold” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ryerson in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $25.00.

Ryerson Stock Performance

The company has a market cap of $942.43 million, a P/E ratio of -41.21 and a beta of 1.58. The company has a quick ratio of 0.95, a current ratio of 1.98 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $26.17 and a two-hundred day simple moving average of $23.60.

Insider Buying and Selling

In related news, CEO Edward J. Lehner sold 59,001 shares of Ryerson stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $30.06, for a total transaction of $1,773,570.06. Following the transaction, the chief executive officer directly owned 593,228 shares in the company, valued at approximately $17,832,433.68. The trade was a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ryerson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in Ryerson during the third quarter valued at approximately $30,000. CWM LLC raised its position in shares of Ryerson by 97.7% during the 2nd quarter. CWM LLC now owns 1,866 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 922 shares during the period. New York State Teachers Retirement System purchased a new position in shares of Ryerson during the 3rd quarter valued at $56,000. AlphaQuest LLC boosted its holdings in Ryerson by 259,800.0% in the 3rd quarter. AlphaQuest LLC now owns 2,599 shares of the basic materials company’s stock worth $59,000 after buying an additional 2,598 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Ryerson by 157.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,936 shares of the basic materials company’s stock worth $85,000 after buying an additional 2,405 shares in the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ryerson Company Profile

Ryerson, Inc is a North American metals distributor and processor serving a broad range of industrial and manufacturing end markets. Headquartered in Chicago, Illinois, the company supplies carbon steels, stainless alloys, aluminum, brass and copper products to customers across the United States, Canada and Mexico. Through its extensive branch network, Ryerson provides just-in-time delivery and comprehensive inventory management solutions to support complex production schedules and tight lead-time requirements.

In addition to raw material distribution, Ryerson offers a suite of value-added processing services, including laser and plasma cutting, plate burning, sawing, shearing, forming, drilling and welding.