Ryerson (NYSE:RYI) Shares Gap Down to $16.82

Ryerson Holding Co. (NYSE:RYI) gapped down before the market opened on Thursday . The stock had previously closed at $16.82, but opened at $15.73. Ryerson shares last traded at $16.11, with a volume of 742 shares.

Separately, BMO Capital Markets upped their price objective on Ryerson from $9.00 to $14.50 and gave the company a “market perform” rating in a report on Monday, March 15th.

The business’s 50-day simple moving average is $16.06 and its two-hundred day simple moving average is $13.74. The firm has a market capitalization of $628.68 million, a price-to-earnings ratio of -27.23 and a beta of 1.80. The company has a quick ratio of 1.18, a current ratio of 2.38 and a debt-to-equity ratio of 6.11.

Ryerson (NYSE:RYI) last posted its quarterly earnings data on Tuesday, May 4th. The basic materials company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.19). Ryerson had a positive return on equity of 9.16% and a negative net margin of 0.63%. Sell-side analysts anticipate that Ryerson Holding Co. will post 0.42 earnings per share for the current year.

In related news, CEO Edward J. Lehner sold 30,682 shares of Ryerson stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $16.39, for a total value of $502,877.98. Following the completion of the transaction, the chief executive officer now owns 406,544 shares in the company, valued at $6,663,256.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin D. Richardson sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 24th. The stock was sold at an average price of $16.55, for a total transaction of $124,125.00. Insiders sold a total of 40,359 shares of company stock worth $662,336 in the last quarter. Company insiders own 2.23% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management raised its position in Ryerson by 8.2% in the 4th quarter. Ritholtz Wealth Management now owns 13,753 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 1,041 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Ryerson in the first quarter valued at approximately $35,000. Dorsey Wright & Associates acquired a new position in Ryerson during the 1st quarter worth approximately $41,000. Citigroup Inc. grew its holdings in Ryerson by 298.5% during the 4th quarter. Citigroup Inc. now owns 3,188 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 2,388 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Ryerson by 21.8% in the 1st quarter. Barclays PLC now owns 13,383 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 2,399 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

About Ryerson (NYSE:RYI)

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company 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, structurals, and tubing.

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