Ryerson (NYSE:RYI) Reaches New 1-Year High – Here’s What Happened

Shares of Ryerson Holding Corporation (NYSE:RYI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $30.39 and last traded at $29.7720, with a volume of 61883 shares trading hands. The stock had previously closed at $29.31.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Zacks Research raised shares of Ryerson to a “hold” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “sell (d)” rating on shares of Ryerson in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $25.00.

Ryerson Trading Up 1.6%

The company has a market capitalization of $959.54 million, a price-to-earnings ratio of -41.94 and a beta of 1.58. The company has a current ratio of 1.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average price is $26.17 and its two-hundred day moving average price is $23.60.

Insider Buying and Selling at Ryerson

In other news, CEO Edward J. Lehner sold 59,001 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $30.06, for a total transaction of $1,773,570.06. Following the completion of the transaction, the chief executive officer directly owned 593,228 shares in the company, valued at approximately $17,832,433.68. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ryerson

A number of hedge funds and other institutional investors have recently bought and sold shares of RYI. State of Alaska Department of Revenue acquired a new position in Ryerson in the 3rd quarter worth about $30,000. CWM LLC grew its holdings in shares of Ryerson by 97.7% during the second quarter. CWM LLC now owns 1,866 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 922 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Ryerson in the third quarter valued at approximately $56,000. AlphaQuest LLC raised its holdings in Ryerson by 259,800.0% in the 3rd quarter. AlphaQuest LLC now owns 2,599 shares of the basic materials company’s stock valued at $59,000 after buying an additional 2,598 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Ryerson by 157.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,936 shares of the basic materials company’s stock valued at $85,000 after buying an additional 2,405 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.

About Ryerson

Ryerson, Inc is a North American metals distributor and processor serving a broad range of industrial and manufacturing end markets. Headquartered in Chicago, Illinois, the company supplies carbon steels, stainless alloys, aluminum, brass and copper products to customers across the United States, Canada and Mexico. Through its extensive branch network, Ryerson provides just-in-time delivery and comprehensive inventory management solutions to support complex production schedules and tight lead-time requirements.

In addition to raw material distribution, Ryerson offers a suite of value-added processing services, including laser and plasma cutting, plate burning, sawing, shearing, forming, drilling and welding.