Ryerson (NYSE:RYI) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Ryerson (NYSE:RYI) from a hold rating to a strong sell rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago. “

A number of other research analysts also recently issued reports on the stock. Deutsche Bank set a $10.00 target price on shares of Ryerson and gave the company a hold rating in a research report on Thursday, July 11th. ValuEngine downgraded shares of Ryerson from a sell rating to a strong sell rating in a research report on Thursday, August 1st.

Shares of RYI opened at $7.25 on Friday. The stock has a market capitalization of $264.11 million, a price-to-earnings ratio of 6.78 and a beta of 1.87. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 8.94. Ryerson has a 1-year low of $5.99 and a 1-year high of $11.89. The firm’s fifty day moving average is $7.83.

Ryerson (NYSE:RYI) last announced its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.32). The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Ryerson had a net margin of 2.56% and a return on equity of 56.51%. Ryerson’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. On average, equities research analysts forecast that Ryerson will post 2.02 EPS for the current fiscal year.

In other Ryerson news, insider Michael Burbach bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $8.49 per share, for a total transaction of $33,960.00. Following the completion of the transaction, the insider now directly owns 110,090 shares of the company’s stock, valued at approximately $934,664.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.36% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in shares of Ryerson by 111.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,375 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 1,778 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Ryerson by 4.5% in the second quarter. Jacobs Levy Equity Management Inc. now owns 41,439 shares of the basic materials company’s stock worth $345,000 after acquiring an additional 1,800 shares during the period. Northern Trust Corp raised its position in shares of Ryerson by 0.9% in the second quarter. Northern Trust Corp now owns 201,629 shares of the basic materials company’s stock worth $1,680,000 after acquiring an additional 1,843 shares during the period. ClariVest Asset Management LLC raised its position in shares of Ryerson by 3.3% in the first quarter. ClariVest Asset Management LLC now owns 98,100 shares of the basic materials company’s stock worth $840,000 after acquiring an additional 3,100 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Ryerson by 3.3% in the first quarter. Nordea Investment Management AB now owns 98,100 shares of the basic materials company’s stock worth $840,000 after acquiring an additional 3,100 shares during the period. Institutional investors own 35.83% of the company’s stock.

About Ryerson

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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