Ryerson (NYSE:RYI) Trading 5.3% Higher - Should You Buy?

Ryerson Holding Corporation (NYSE:RYI - Get Free Report) traded up 5.3% during trading on Friday . The stock traded as high as $22.06 and last traded at $22.27. 201,231 shares changed hands during trading, a decline of 27% from the average session volume of 275,760 shares. The stock had previously closed at $21.14.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Ryerson from a "buy" rating to a "hold" rating in a research note on Friday, May 9th.

Ryerson Stock Up 5.4%

The firm has a market cap of $717.22 million, a PE ratio of -100.95 and a beta of 1.55. 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 stock has a 50 day simple moving average of $21.44 and a 200-day simple moving average of $21.74.

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

Ryerson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, June 5th. Ryerson's payout ratio is -340.91%.

Hedge Funds Weigh In On Ryerson

Hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new stake in Ryerson during the 1st quarter valued at $432,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ryerson by 98.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,396,185 shares of the basic materials company's stock valued at $32,057,000 after purchasing an additional 691,737 shares in the last quarter. State of Wyoming boosted its holdings in Ryerson by 33.1% in the 1st quarter. State of Wyoming now owns 18,622 shares of the basic materials company's stock worth $428,000 after buying an additional 4,632 shares during the period. Comerica Bank grew its position in shares of Ryerson by 81.2% during the first quarter. Comerica Bank now owns 95,035 shares of the basic materials company's stock worth $2,182,000 after purchasing an additional 42,597 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in Ryerson during the 1st quarter valued at approximately $464,000. 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.

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