Luminus Management LLC reduced its position in shares of Ryerson Holding Corp (NYSE:RYI) by 81.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,288 shares of the basic materials company’s stock after selling 634,625 shares during the period. Luminus Management LLC owned about 0.38% of Ryerson worth $1,202,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of RYI. BNP Paribas Arbitrage SA boosted its position in Ryerson by 111.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,375 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 1,778 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Ryerson during the second quarter valued at approximately $50,000. UBS Asset Management Americas Inc. acquired a new position in Ryerson during the second quarter valued at approximately $86,000. Aperio Group LLC acquired a new position in Ryerson during the second quarter valued at approximately $108,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Ryerson during the second quarter valued at approximately $132,000. 35.65% of the stock is owned by institutional investors.
Several brokerages recently commented on RYI. BMO Capital Markets reduced their price target 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. ValuEngine cut Ryerson from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Deutsche Bank set a $10.00 price target on Ryerson and gave the company a “hold” rating in a research report on Thursday, July 11th. Finally, Zacks Investment Research raised Ryerson from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 11th.
Shares of RYI traded up $0.19 during mid-day trading on Monday, reaching $8.48. The company’s stock had a trading volume of 1,700 shares, compared to its average volume of 156,061. Ryerson Holding Corp has a 1-year low of $5.99 and a 1-year high of $11.89. The stock has a market cap of $314.33 million, a P/E ratio of 7.78 and a beta of 1.92. The business has a 50-day simple moving average of $7.70 and a two-hundred day simple moving average of $8.33. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 8.94.
Ryerson (NYSE:RYI) last released its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $1.19 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Research analysts anticipate that Ryerson Holding Corp will post 2.16 EPS 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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