Ryerson (NYSE:RYI) Trading Up 6.9% - Still a Buy?

Ryerson Holding Co. (NYSE:RYI - Get Free Report)'s share price shot up 6.9% on Monday . The company traded as high as $22.41 and last traded at $22.20. 47,693 shares were traded during mid-day trading, a decline of 83% from the average session volume of 284,282 shares. The stock had previously closed at $20.76.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RYI. BMO Capital Markets lifted their price target on shares of Ryerson from $23.00 to $25.00 and gave the company a "market perform" rating in a research note on Monday, February 24th. Wall Street Zen cut Ryerson from a "buy" rating to a "hold" rating in a report on Friday, May 9th.

Ryerson Stock Performance

The stock has a market capitalization of $706.64 million, a P/E ratio of -84.42 and a beta of 1.64. The stock has a 50 day simple moving average of $21.76 and a two-hundred day simple moving average of $22.16. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62.

Ryerson (NYSE:RYI - Get Free Report) last released its 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. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.16 billion. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. On average, equities analysts forecast that Ryerson Holding Co. will post 1.2 EPS for the current fiscal year.

Ryerson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.75 annualized dividend and a dividend yield of 3.42%. Ryerson's dividend payout ratio is currently -340.91%.

Institutional Investors Weigh In On Ryerson

A number of large investors have recently added to or reduced their stakes in RYI. Franklin Resources Inc. boosted its position in Ryerson by 85.8% during the fourth quarter. Franklin Resources Inc. now owns 2,329,803 shares of the basic materials company's stock worth $43,125,000 after purchasing an additional 1,075,963 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ryerson by 98.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,396,185 shares of the basic materials company's stock worth $32,057,000 after buying an additional 691,737 shares during the period. Victory Capital Management Inc. grew its stake in Ryerson by 5.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,215,679 shares of the basic materials company's stock valued at $22,502,000 after buying an additional 65,181 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Ryerson by 17.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,190,988 shares of the basic materials company's stock valued at $27,345,000 after acquiring an additional 176,878 shares during the period. Finally, American Century Companies Inc. lifted its position in Ryerson by 8.3% during the first quarter. American Century Companies Inc. now owns 1,007,359 shares of the basic materials company's stock worth $23,129,000 after acquiring an additional 76,920 shares during the last quarter. 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.