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

Ryerson Holding Co. (NYSE:RYI)’s share price was up 3.6% during 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 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

Several hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in shares of Ryerson by 85.8% in 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 buying an additional 1,075,963 shares during the period. JB Capital Partners LP raised its stake in shares of Ryerson by 4.0% in the third quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company’s stock valued at $42,430,000 after buying an additional 82,313 shares during the period. State Street Corp raised 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 valued at $28,101,000 after buying an additional 43,780 shares during the period. Victory Capital Management Inc. raised its stake in shares of Ryerson by 5.7% in 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 buying an additional 65,181 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Ryerson by 19.7% in 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 buying an additional 166,596 shares during the period. 94.81% of the stock is currently owned by institutional investors.

Ryerson Stock Performance

The stock has a market capitalization of $781.81 million, a P/E ratio of -94.41 and a beta of 1.59. The company has a 50 day simple moving average of $20.72 and a 200-day simple moving average of $21.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.22 and a quick ratio of 1.06.

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

Ryerson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, March 6th. Ryerson’s dividend payout ratio (DPR) is presently -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.