Ryerson (NYSE:RYI) Trading 3.6% Higher on Analyst Upgrade

Ryerson Holding Co. (NYSE:RYI) was up 3.6% on Monday after BMO Capital Markets raised their price target on the stock from $23.00 to $25.00. BMO Capital Markets currently has a market perform rating on the stock. Ryerson traded as high as $25.56 and last traded at $25.16. Approximately 76,116 shares traded hands during trading, a decline of 69% from the average daily volume of 245,931 shares. The stock had previously closed at $24.30.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Ryerson during the third quarter valued at approximately $108,000. Assenagon Asset Management S.A. bought a new position in Ryerson in the 3rd quarter worth $202,000. Nisa Investment Advisors LLC boosted its holdings in Ryerson by 3,103.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 12,430 shares of the basic materials company’s stock worth $247,000 after buying an additional 12,042 shares during the period. GSA Capital Partners LLP bought a new stake in Ryerson during the third quarter valued at about $272,000. Finally, Victory Capital Management Inc. raised its holdings in Ryerson by 164.8% during the third quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company’s stock valued at $22,906,000 after acquiring an additional 715,990 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ryerson Stock Performance

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 business has a 50 day moving average price of $20.72 and a two-hundred day moving average price of $21.19. The stock has a market cap of $795.89 million, a P/E ratio of -96.21 and a beta of 1.59.

Ryerson (NYSE:RYI) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.34. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. On average, sell-side analysts forecast that Ryerson Holding Co. will post 1.2 earnings per share for the current fiscal year.

Ryerson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.75 dividend on an annualized basis and a yield of 3.00%. Ryerson’s dividend payout ratio is currently -288.46%.

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.