Ryerson (NYSE:RYI) Shares Up 6.9% - Time to Buy?

Ryerson Holding Co. (NYSE:RYI - Get Free Report)'s stock price shot up 6.9% during mid-day trading on Monday . The company traded as high as $22.41 and last traded at $22.20. 47,693 shares traded hands 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 Analysts Forecast Growth

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

Ryerson Stock Up 0.3%

The firm has a market capitalization of $713.14 million, a P/E ratio of -85.19 and a beta of 1.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22. The firm's 50-day moving average is $21.81 and its 200 day moving average is $22.19.

Ryerson (NYSE:RYI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.05. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. As a group, equities research analysts predict that Ryerson Holding Co. will post 1.2 EPS for the current fiscal year.

Ryerson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, June 5th. Ryerson's dividend payout ratio (DPR) is currently -340.91%.

Institutional Trading of Ryerson

Hedge funds and other institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new position in Ryerson during the fourth quarter worth $54,000. Tower Research Capital LLC TRC lifted its position in Ryerson by 488.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company's stock worth $68,000 after buying an additional 3,061 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in Ryerson during the 4th quarter worth about $196,000. US Bancorp DE boosted its stake in shares of Ryerson by 150.8% during the 4th 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 last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Ryerson in the 1st quarter valued at about $286,000. 94.81% of the stock is currently owned by institutional investors and hedge funds.

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.