Ryerson (NYSE:RYI) Hits New 12-Month Low – What’s Next?

Ryerson Holding Co. (NYSE:RYI)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $17.46 and last traded at $17.67, with a volume of 306738 shares changing hands. The stock had previously closed at $18.15.

Ryerson Price Performance

The stock has a market capitalization of $578.34 million, a PE ratio of 29.77 and a beta of 1.59. The business’s 50-day moving average price is $22.33 and its 200 day moving average price is $21.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22.

Ryerson (NYSE:RYI) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.26). Ryerson had a net margin of 0.46% and a return on equity of 2.66%. The business had revenue of $1.13 billion during the quarter. During the same quarter in the prior year, the firm posted $1.00 earnings per share.

Ryerson Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.75 dividend on an annualized basis and a yield of 4.13%. Ryerson’s dividend payout ratio is presently 122.95%.

Insider Transactions at Ryerson

In other Ryerson news, EVP Mark S. Silver sold 9,000 shares of Ryerson stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $24.56, for a total transaction of $221,040.00. Following the completion of the sale, the executive vice president now owns 107,664 shares of the company’s stock, valued at $2,644,227.84. The trade was a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ryerson

A number of large investors have recently modified their holdings of RYI. Barclays PLC grew its position in Ryerson by 167.0% during the third quarter. Barclays PLC now owns 55,330 shares of the basic materials company’s stock valued at $1,101,000 after acquiring an additional 34,604 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Ryerson by 41.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 43,517 shares of the basic materials company’s stock valued at $866,000 after acquiring an additional 12,768 shares during the last quarter. State Street Corp boosted its holdings in Ryerson by 3.2% during the 3rd quarter. State Street Corp now owns 1,411,397 shares of the basic materials company’s stock valued at $28,101,000 after acquiring an additional 43,780 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Ryerson by 6.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 480,341 shares of the basic materials company’s stock worth $9,564,000 after acquiring an additional 31,046 shares during the last quarter. Finally, JB Capital Partners LP increased its stake in Ryerson by 4.0% in the 3rd quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company’s stock worth $42,430,000 after purchasing an additional 82,313 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.