Ryerson Holding Corp (NYSE:RYI) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 238,100 shares, a growth of 20.1% from the July 31st total of 198,300 shares. Based on an average daily trading volume, of 174,600 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.5% of the shares of the stock are short sold.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of Ryerson by 111.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,375 shares of the basic materials company’s stock valued at $29,000 after buying an additional 1,778 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Ryerson by 4.5% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 41,439 shares of the basic materials company’s stock valued at $345,000 after buying an additional 1,800 shares during the period. Northern Trust Corp increased its stake in shares of Ryerson by 0.9% in the 2nd quarter. Northern Trust Corp now owns 201,629 shares of the basic materials company’s stock valued at $1,680,000 after buying an additional 1,843 shares during the period. Mutual Advisors LLC increased its stake in shares of Ryerson by 2.1% in the 2nd quarter. Mutual Advisors LLC now owns 98,200 shares of the basic materials company’s stock valued at $818,000 after buying an additional 2,000 shares during the period. Finally, ClariVest Asset Management LLC increased its stake in shares of Ryerson by 3.3% in the 1st quarter. ClariVest Asset Management LLC now owns 98,100 shares of the basic materials company’s stock valued at $840,000 after buying an additional 3,100 shares during the period. 35.65% of the stock is owned by institutional investors.
Several research firms recently commented on RYI. ValuEngine upgraded Ryerson from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Deutsche Bank set a $10.00 target price on Ryerson and gave the stock a “hold” rating in a research report on Thursday, July 11th. Zacks Investment Research upgraded Ryerson from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, BMO Capital Markets cut their target price on Ryerson from $9.00 to $7.00 and set a “market perform” rating for the company in a research report on Monday, August 26th.
RYI traded up $0.29 during trading on Friday, hitting $9.50. The company’s stock had a trading volume of 152,300 shares, compared to its average volume of 151,785. The firm’s 50 day moving average price is $7.37 and its two-hundred day moving average price is $8.29. 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 12 month low of $5.99 and a 12 month high of $11.89. The stock has a market capitalization of $358.15 million, a price-to-earnings ratio of 8.88 and a beta of 1.92.
Ryerson (NYSE:RYI) last issued its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.32). Ryerson had a net margin of 2.56% and a return on equity of 56.51%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, sell-side analysts forecast that Ryerson will post 2.16 earnings per share for the current year.
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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