Ryerson (NYSE:RYI) Shares Gap Up – Here’s Why

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 traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on RYI shares. Zacks Research upgraded Ryerson to a “hold” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (d)” rating on shares of Ryerson in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $25.00.

Ryerson Stock Performance

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

Insider Activity at Ryerson

In related news, CFO James J. Claussen sold 4,972 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was 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 directly owned 74,284 shares of the company’s stock, valued at $2,228,520. This trade represents a 6.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward J. Lehner sold 59,001 shares of Ryerson 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 transaction, the chief executive officer directly owned 593,228 shares in the company, valued at $17,832,433.68. The trade was a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 64,973 shares of company stock worth $1,952,740. 3.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ryerson

A number of hedge funds and other institutional investors have recently made changes to their positions in RYI. Price T Rowe Associates Inc. MD increased its position in Ryerson by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,985 shares of the basic materials company’s stock valued at $528,000 after purchasing an additional 1,265 shares during the period. Russell Investments Group Ltd. increased its stake in Ryerson by 1.2% in the fourth quarter. Russell Investments Group Ltd. now owns 53,185 shares of the basic materials company’s stock valued at $1,338,000 after purchasing an additional 648 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Ryerson during the fourth quarter valued at about $40,000. Entropy Technologies LP bought a new position in shares of Ryerson during the 4th quarter worth about $231,000. Finally, Barclays PLC grew its stake in shares of Ryerson by 5.2% in the 4th quarter. Barclays PLC now owns 60,670 shares of the basic materials company’s stock valued at $1,526,000 after buying an additional 2,973 shares during the period. 94.81% of the stock is owned by institutional investors and hedge funds.

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.