Ryerson (NYSE:RYI) Cut to Hold at StockNews.com

Ryerson (NYSE:RYI - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

Separately, BMO Capital Markets cut their price objective on Ryerson from $33.00 to $28.00 and set a "market perform" rating on the stock in a research report on Thursday.

Ryerson Trading Down 1.9 %

Shares of RYI stock traded down $0.45 during trading hours on Friday, reaching $22.84. The company's stock had a trading volume of 660,345 shares, compared to its average volume of 233,002. The company has a current ratio of 2.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $784.33 million, a P/E ratio of 8.85 and a beta of 1.69. The firm's fifty day simple moving average is $31.54 and its 200 day simple moving average is $31.58. Ryerson has a one year low of $22.32 and a one year high of $44.70.

Ryerson (NYSE:RYI - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.49. Ryerson had a net margin of 1.84% and a return on equity of 10.27%. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the business posted ($0.65) earnings per share.

Insider Activity

In related news, insider Alagu Sundarrajan sold 2,593 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $32.52, for a total value of $84,324.36. Following the completion of the transaction, the insider now directly owns 10,484 shares in the company, valued at approximately $340,939.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Alagu Sundarrajan sold 2,593 shares of the company's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $32.52, for a total value of $84,324.36. Following the sale, the insider now owns 10,484 shares in the company, valued at approximately $340,939.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Burbach acquired 4,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $23.75 per share, with a total value of $95,000.00. Following the purchase, the chief operating officer now directly owns 226,263 shares of the company's stock, valued at approximately $5,373,746.25. The disclosure for this purchase can be found here. Company insiders own 3.88% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. William Blair Investment Management LLC purchased a new position in Ryerson in the 3rd quarter worth about $23,522,000. Vanguard Group Inc. lifted its position in Ryerson by 28.6% during the third quarter. Vanguard Group Inc. now owns 2,233,108 shares of the basic materials company's stock valued at $64,961,000 after purchasing an additional 496,913 shares during the period. Assenagon Asset Management S.A. raised its holdings in Ryerson by 2,203.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 261,647 shares of the basic materials company's stock worth $7,611,000 after purchasing an additional 250,290 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Ryerson by 106.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 382,092 shares of the basic materials company's stock valued at $11,115,000 after purchasing an additional 196,872 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Ryerson by 47.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company's stock worth $17,053,000 after buying an additional 189,517 shares in the last quarter. 94.81% of the stock is owned by institutional investors.

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.

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