Ryerson (NYSE:RYI) Stock Rating Lowered by Zacks Investment Research

Ryerson (NYSE:RYI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago. “

Shares of RYI opened at $22.78 on Wednesday. The business’s 50-day moving average price is $19.39 and its 200-day moving average price is $17.10. The company has a quick ratio of 0.90, a current ratio of 1.72 and a debt-to-equity ratio of 1.96. Ryerson has a twelve month low of $5.31 and a twelve month high of $25.68. The stock has a market cap of $876.46 million, a PE ratio of 10.95 and a beta of 1.68.

Ryerson (NYSE:RYI) last released its quarterly earnings results on Wednesday, August 4th. The basic materials company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.43. Ryerson had a net margin of 1.92% and a return on equity of 34.04%. The firm had revenue of $1.42 billion during the quarter. Analysts expect that Ryerson will post 4.5 earnings per share for the current fiscal year.

In other news, CAO Molly D. Kannan sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $22.47, for a total value of $112,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.49% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. US Bancorp DE purchased a new stake in shares of Ryerson in the 2nd quarter worth about $29,000. Advisory Services Network LLC bought a new stake in shares of Ryerson during the second quarter valued at approximately $86,000. Amundi purchased a new stake in Ryerson in the second quarter worth $86,000. Islay Capital Management LLC bought a new position in Ryerson in the second quarter worth $91,000. Finally, Royal Bank of Canada lifted its position in Ryerson by 30.0% during the first quarter. Royal Bank of Canada now owns 6,815 shares of the basic materials company’s stock valued at $116,000 after buying an additional 1,571 shares during the period. 92.93% of the stock is currently owned by institutional investors and hedge funds.

Ryerson Company Profile

Ryerson Holding Corp. engages in the processing and distribution of industrial metals. It processes and distributes products in stainless steel, aluminum carbon steel and alloy steels and a limited line of nickel and red metals in various shapes and forms. The firm serves end-markets including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery; and also offers value-added processing and fabrication services such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius.

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