Ryerson (NYSE:RYZ) Sets New 12-Month High – Should You Buy?

Ryerson Holding (NYSE:RYZ) reached a new 52-week high on Monday. The stock traded as high as $32.70 and last traded at $32.59, with a volume of 26,039 shares changing hands. The stock had previously closed at $31.15.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RYZ. Weiss Ratings raised shares of Ryerson from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday. Wall Street Zen upgraded shares of Ryerson from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research raised shares of Ryerson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Ryerson Stock Up 7.3%

The firm has a 50-day moving average of $25.97 and a two-hundred day moving average of $26.43. The company has a quick ratio of 1.02, a current ratio of 2.16 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1.73 billion, a PE ratio of -196.32 and a beta of 1.50.

Ryerson (NYSE:RYZ) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.39 by $0.22. Ryerson had a net margin of 0.21% and a return on equity of 3.48%. The firm had revenue of $2.18 billion for the quarter. Equities research analysts predict that Ryerson Holding will post 1.35 earnings per share for the current fiscal year.

Ryerson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, December 3rd. Ryerson’s dividend payout ratio is currently -441.18%.

Institutional Trading of Ryerson

A number of large investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new stake in shares of Ryerson during the second quarter worth about $25,000. Integrated Wealth Concepts LLC purchased a new stake in Ryerson during the 2nd quarter valued at approximately $33,000. Quantbot Technologies LP acquired a new stake in Ryerson during the 2nd quarter worth approximately $66,000. Public Employees Retirement System of Ohio acquired a new stake in Ryerson during the 2nd quarter worth approximately $130,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Ryerson in the 2nd quarter valued at approximately $148,000. 94.81% of the stock is owned by institutional investors and hedge funds.

Ryerson Company Profile

Ryerson Holding Corporation is a value-added processor and distributor of industrial metals. The company supplies carbon steel, stainless steel, aluminum, nickel, and copper products to manufacturers and other industrial customers, offering materials in forms such as sheets, plates, coils, bars, tubes, and structural products.

In addition to distributing metals, Ryerson provides processing and fabrication services designed to prepare materials for customer specifications. These services include cutting, slitting, sawing, forming, machining, and other methods that help customers manage their material requirements and supply chains.

Founded in Chicago in 1842 by Joseph T.