Ryerson (NYSE:RYI) Trading Up 8.7%

Ryerson Holding Corp (NYSE:RYI) was up 8.7% during mid-day trading on Thursday . The company traded as high as $6.40 and last traded at $6.23. Approximately 326,866 shares were traded during trading, an increase of 94% from the average daily volume of 168,817 shares. The stock had previously closed at $5.73.

A number of research analysts have issued reports on RYI shares. ValuEngine raised Ryerson from a “sell” rating to a “hold” rating in a report on Friday, July 24th. Zacks Investment Research raised Ryerson from a “sell” rating to a “hold” rating in a report on Tuesday, August 11th. Deutsche Bank lifted their price target on Ryerson from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Finally, TheStreet cut Ryerson from a “c” rating to a “d+” rating in a report on Friday, August 14th. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $6.63.

The stock has a fifty day moving average of $5.88 and a 200-day moving average of $5.35. The company has a quick ratio of 1.37, a current ratio of 2.92 and a debt-to-equity ratio of 5.44. The firm has a market capitalization of $237.47 million, a P/E ratio of 8.65 and a beta of 1.89.

Ryerson (NYSE:RYI) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported ($0.64) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.70) by $0.06. The firm had revenue of $771.80 million during the quarter, compared to analyst estimates of $774.00 million. Ryerson had a return on equity of 7.42% and a net margin of 0.71%. As a group, analysts forecast that Ryerson Holding Corp will post -0.33 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in RYI. Citigroup Inc. raised its stake in Ryerson by 213.1% in the 1st quarter. Citigroup Inc. now owns 10,428 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 7,097 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Ryerson during the 1st quarter worth $57,000. Trexquant Investment LP bought a new stake in shares of Ryerson during the 2nd quarter worth $59,000. Beirne Wealth Consulting Services LLC bought a new stake in shares of Ryerson during the 2nd quarter worth $62,000. Finally, Stone Ridge Asset Management LLC bought a new stake in shares of Ryerson during the 2nd quarter worth $65,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

About Ryerson (NYSE:RYI)

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structurals, and tubing.

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