Ryerson (NYSE:RYI) Stock Price Up 3.6% on Analyst Upgrade

Ryerson Holding Co. (NYSE:RYI)’s stock price rose 3.6% during mid-day trading 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 mid-day trading, a decline of 69% from the average daily volume of 245,931 shares. The stock had previously closed at $24.30.

Institutional Trading of Ryerson

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of Ryerson by 85.8% during the fourth quarter. Franklin Resources Inc. now owns 2,329,803 shares of the basic materials company’s stock valued at $43,125,000 after purchasing an additional 1,075,963 shares in the last quarter. JB Capital Partners LP boosted its holdings in shares of Ryerson by 4.0% during the 3rd quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company’s stock valued at $42,430,000 after acquiring an additional 82,313 shares during the last quarter. State Street Corp grew its stake in shares of Ryerson by 3.2% in the third quarter. State Street Corp now owns 1,411,397 shares of the basic materials company’s stock worth $28,101,000 after acquiring an additional 43,780 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Ryerson by 5.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,215,679 shares of the basic materials company’s stock valued at $22,502,000 after purchasing an additional 65,181 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Ryerson by 19.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,014,110 shares of the basic materials company’s stock valued at $18,771,000 after purchasing an additional 166,596 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ryerson Stock Up 2.8 %

The company has a market cap of $795.89 million, a PE ratio of -96.21 and a beta of 1.59. 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 company’s fifty day moving average is $20.72 and its 200-day moving average is $21.19.

Ryerson (NYSE:RYI) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.34. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. On average, analysts predict that Ryerson Holding Co. will post 1.2 EPS for the current year.

Ryerson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.1875 per share. The ex-dividend date 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%.

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.