Ryerson (NYSE:RYI) Shares Gap Up – What’s Next?

Ryerson Holding Corporation (NYSE:RYI) gapped up before the market opened on Tuesday . The stock had previously closed at $27.03, but opened at $28.82. Ryerson shares last traded at $25.9050, with a volume of 133,563 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Ryerson in a research note on Monday, December 29th. Zacks Research raised Ryerson to a “hold” rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $25.00.

Ryerson Stock Down 4.9%

The company has a quick ratio of 0.95, a current ratio of 1.98 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $27.32 and a two-hundred day simple moving average of $24.05. The company has a market capitalization of $828.12 million, a price-to-earnings ratio of -36.21 and a beta of 1.58.

Insider Buying and Selling at Ryerson

In other Ryerson news, CEO Edward J. Lehner sold 59,001 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $30.06, for a total value of $1,773,570.06. Following the completion of the sale, the chief executive officer directly owned 593,228 shares in the company, valued at $17,832,433.68. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James J. Claussen sold 4,972 shares of Ryerson stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.00, for a total value of $149,160.00. Following the transaction, the chief financial officer owned 74,284 shares in the company, valued at $2,228,520. This trade represents a 6.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,973 shares of company stock valued at $1,952,740 over the last three months. Insiders own 3.95% of the company’s stock.

Hedge Funds Weigh In On Ryerson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in Ryerson by 97.7% in the 2nd quarter. CWM LLC now owns 1,866 shares of the basic materials company’s stock valued at $40,000 after buying an additional 922 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Ryerson by 14.3% in the second quarter. Allianz Asset Management GmbH now owns 232,399 shares of the basic materials company’s stock valued at $5,013,000 after purchasing an additional 29,101 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Ryerson by 61.3% during the second quarter. Teacher Retirement System of Texas now owns 38,746 shares of the basic materials company’s stock worth $836,000 after purchasing an additional 14,725 shares during the period. Geode Capital Management LLC grew its stake in Ryerson by 0.9% during the second quarter. Geode Capital Management LLC now owns 644,892 shares of the basic materials company’s stock worth $13,912,000 after buying an additional 6,000 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Ryerson by 11.7% in the 2nd quarter. LSV Asset Management now owns 135,170 shares of the basic materials company’s stock valued at $2,916,000 after buying an additional 14,200 shares during the period. 94.81% of the stock is owned by institutional investors.

Ryerson Company Profile

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.