Ryerson (NYSE:RYI) Shares Down 5.9% - Here's Why

Ryerson Holding Corporation (NYSE:RYI - Get Free Report) traded down 5.9% during trading on Friday . The stock traded as low as $19.40 and last traded at $19.35. 128,043 shares traded hands during trading, a decline of 42% from the average session volume of 221,875 shares. The stock had previously closed at $20.56.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RYI shares. Wall Street Zen downgraded shares of Ryerson from a "buy" rating to a "hold" rating in a report on Friday, May 9th. BMO Capital Markets lifted their price objective on shares of Ryerson from $23.00 to $25.00 and gave the company a "market perform" rating in a report on Monday, February 24th.

Ryerson Stock Down 6.4%

The company has a debt-to-equity ratio of 0.61, a current ratio of 2.00 and a quick ratio of 0.99. The firm has a market capitalization of $619.43 million, a price-to-earnings ratio of -87.94 and a beta of 1.55. The business has a fifty day moving average price of $21.61 and a two-hundred day moving average price of $21.89.

Ryerson (NYSE:RYI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.05. Ryerson had a negative net margin of 0.15% and a negative return on equity of 0.65%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, equities analysts expect that Ryerson Holding Corporation will post 1.2 earnings per share for the current year.

Ryerson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Thursday, June 5th. Ryerson's payout ratio is -340.91%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Ryerson by 488.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company's stock worth $68,000 after acquiring an additional 3,061 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in Ryerson during the fourth quarter worth $196,000. US Bancorp DE boosted its position in shares of Ryerson by 150.8% during the fourth quarter. US Bancorp DE now owns 11,246 shares of the basic materials company's stock worth $208,000 after buying an additional 6,762 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Ryerson in the first quarter valued at $286,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Ryerson by 10.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,927 shares of the basic materials company's stock valued at $366,000 after buying an additional 1,495 shares during the period. Hedge funds and other institutional investors own 94.81% of the company's stock.

About Ryerson

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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