Ryerson (NYSE:RYI) Hits New 52-Week High – Here’s Why

Ryerson Holding Corporation (NYSE:RYI)’s stock price 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

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

Ryerson Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.98 and a quick ratio of 0.95. The firm has a market cap of $956.06 million, a price-to-earnings ratio of -41.81 and a beta of 1.58. The stock has a 50-day moving average price of $26.61 and a 200 day moving average price of $23.74.

Insider Buying and Selling

In other Ryerson news, CEO Edward J. Lehner sold 59,001 shares of the firm’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 transaction, the chief executive officer directly owned 593,228 shares of the company’s stock, valued at approximately $17,832,433.68. This trade represents a 9.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James J. Claussen sold 4,972 shares of Ryerson stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.00, for a total transaction of $149,160.00. Following the completion of the transaction, the chief financial officer owned 74,284 shares in the company, valued at approximately $2,228,520. This represents a 6.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 64,973 shares of company stock worth $1,952,740. Insiders own 3.95% of the company’s stock.

Hedge Funds Weigh In On Ryerson

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in Ryerson during the 3rd quarter valued at approximately $30,000. CWM LLC grew its stake in shares of 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 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 stake in shares of Ryerson by 259,800.0% during the third quarter. AlphaQuest LLC now owns 2,599 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 2,598 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Ryerson by 157.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,936 shares of the basic materials company’s stock worth $85,000 after purchasing an additional 2,405 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

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.