Michael Burbach Purchases 4,000 Shares of Ryerson Holding Co. (NYSE:RYI) Stock

Ryerson Holding Co. (NYSE:RYI) COO Michael Burbach acquired 4,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $23.75 per share, for a total transaction of $95,000.00. Following the acquisition, the chief operating officer now directly owns 226,263 shares in the company, valued at $5,373,746.25. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Ryerson Stock Performance

Shares of NYSE:RYI traded down $0.45 during trading hours on Friday, hitting $22.84. The stock had a trading volume of 660,345 shares, compared to its average volume of 233,002. The stock’s fifty day simple moving average is $31.54 and its 200 day simple moving average is $31.58. Ryerson Holding Co. has a 1-year low of $22.32 and a 1-year high of $44.70. The firm has a market capitalization of $784.33 million, a price-to-earnings ratio of 8.85 and a beta of 1.69. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 2.09.

Ryerson (NYSE:RYI) last issued its earnings results on Wednesday, February 21st. The basic materials company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.49. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Ryerson had a net margin of 1.84% and a return on equity of 10.27%. During the same period last year, the firm posted ($0.65) earnings per share.

Ryerson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a $0.188 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.75 dividend on an annualized basis and a yield of 3.29%. Ryerson’s payout ratio is 29.07%.

Analyst Ratings Changes

Separately, BMO Capital Markets cut their target price on shares of Ryerson from $33.00 to $28.00 and set a “market perform” rating on the stock in a research note on Thursday.

Institutional Investors Weigh In On Ryerson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC raised its holdings in Ryerson by 2.1% in the 4th quarter. SummerHaven Investment Management LLC now owns 16,667 shares of the basic materials company’s stock worth $578,000 after acquiring an additional 336 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Ryerson by 5.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 7,491 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 355 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Ryerson by 7.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 6,882 shares of the basic materials company’s stock worth $200,000 after purchasing an additional 480 shares during the last quarter. Strs Ohio lifted its position in Ryerson by 2.8% during the 4th quarter. Strs Ohio now owns 21,700 shares of the basic materials company’s stock worth $752,000 after buying an additional 600 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in Ryerson by 46.5% during the 4th quarter. New York State Teachers Retirement System now owns 2,518 shares of the basic materials company’s stock valued at $87,000 after purchasing an additional 799 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

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.