Ryerson (NYSE:RYI) Lowered to Hold Rating by StockNews.com

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

Separately, BMO Capital Markets boosted their target price on Ryerson from $23.00 to $25.00 and gave the stock a "market perform" rating in a research note on Monday, February 24th.

Ryerson Stock Up 2.3%

RYI traded up $0.51 during midday trading on Friday, hitting $22.47. The company had a trading volume of 102,990 shares, compared to its average volume of 238,857. Ryerson has a 52 week low of $17.18 and a 52 week high of $27.41. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $723.44 million, a price-to-earnings ratio of -86.42 and a beta of 1.64. The stock's 50 day moving average price is $22.49 and its 200 day moving average price is $22.43.

Ryerson (NYSE:RYI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, research analysts anticipate that Ryerson will post 1.2 earnings per share for the current fiscal year.

Insider Activity at Ryerson

In other news, CFO James J. Claussen sold 6,017 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $25.30, for a total transaction of $152,230.10. Following the completion of the sale, the chief financial officer now owns 58,773 shares in the company, valued at $1,486,956.90. This trade represents a 9.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward J. Lehner sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $24.79, for a total transaction of $247,900.00. Following the sale, the chief executive officer now owns 593,228 shares of the company's stock, valued at approximately $14,706,122.12. The trade was a 1.66% decrease in their position. The disclosure for this sale can be found here. 3.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ryerson

Large investors have recently modified their holdings of the stock. Barclays PLC increased its stake in shares of Ryerson by 167.0% during the 3rd quarter. Barclays PLC now owns 55,330 shares of the basic materials company's stock worth $1,101,000 after purchasing an additional 34,604 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Ryerson during the fourth quarter valued at about $339,000. Victory Capital Management Inc. lifted its holdings in Ryerson by 5.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,215,679 shares of the basic materials company's stock valued at $22,502,000 after purchasing an additional 65,181 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Ryerson during the fourth quarter valued at about $329,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Ryerson by 19.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,014,110 shares of the basic materials company's stock valued at $18,771,000 after purchasing an additional 166,596 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.