Ryerson Holding Corp (NYSE:RYI) Short Interest Update
Ryerson Holding Corp (NYSE:RYI) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 230,500 shares, an increase of 70.2% from the May 30th total of 135,400 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 179,800 shares, the days-to-cover ratio is presently 1.3 days.
In other Ryerson news, insider Michael Burbach bought 4,000 shares of Ryerson stock in a transaction on Thursday, May 30th. The shares were purchased at an average price of $8.49 per share, with a total value of $33,960.00. Following the acquisition, the insider now owns 110,090 shares in the company, valued at approximately $934,664.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.36% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp bought a new position in Ryerson during the 1st quarter worth $27,000. BNP Paribas Arbitrage SA raised its position in Ryerson by 111.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,375 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 1,778 shares during the last quarter. Rhumbline Advisers raised its position in Ryerson by 48.7% during the 4th quarter. Rhumbline Advisers now owns 20,940 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 6,860 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Ryerson during the 4th quarter worth $156,000. Finally, Bailard Inc. bought a new position in Ryerson during the 1st quarter worth $184,000. 35.87% of the stock is currently owned by institutional investors.
Ryerson (NYSE:RYI) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.22. Ryerson had a return on equity of 76.79% and a net margin of 2.66%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the business posted $0.28 EPS. Ryerson’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, equities analysts anticipate that Ryerson will post 2.24 EPS for the current year.
RYI has been the topic of a number of research analyst reports. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. Finally, Deutsche Bank set a $81.00 price objective on Franco Nevada and gave the company a “hold” rating in a report on Thursday.
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 stainless steel, aluminum, carbon steel, and alloy steels, 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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