Ryerson Holding Corp (NYSE:RYI) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 198,300 shares, a drop of 11.9% from the June 30th total of 225,100 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 184,900 shares, the days-to-cover ratio is presently 1.1 days.

A number of equities research analysts have recently commented on RYI shares. Zacks Investment Research cut shares of Ryerson from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 10th. Deutsche Bank set a $10.00 price objective on shares of Ryerson and gave the stock a “hold” rating in a research note on Thursday, July 11th. Finally, ValuEngine cut shares of Ryerson from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st.

In other Ryerson news, insider Michael Burbach purchased 4,000 shares of Ryerson stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $8.49 per share, with a total value of $33,960.00. Following the transaction, the insider now owns 110,090 shares of the company’s stock, valued at approximately $934,664.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.36% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Ryerson by 10.5% during the 4th quarter. Bank of America Corp DE now owns 50,832 shares of the basic materials company’s stock worth $323,000 after purchasing an additional 4,846 shares during the period. WINTON GROUP Ltd grew its stake in Ryerson by 6.2% in the 2nd quarter. WINTON GROUP Ltd now owns 85,981 shares of the basic materials company’s stock valued at $716,000 after acquiring an additional 5,015 shares during the period. First Quadrant L P CA grew its stake in Ryerson by 10.6% in the 1st quarter. First Quadrant L P CA now owns 34,384 shares of the basic materials company’s stock valued at $294,000 after acquiring an additional 3,284 shares during the period. Victory Capital Management Inc. grew its stake in Ryerson by 36.6% in the 1st quarter. Victory Capital Management Inc. now owns 140,840 shares of the basic materials company’s stock valued at $1,206,000 after acquiring an additional 37,765 shares during the period. Finally, Bailard Inc. acquired a new stake in Ryerson in the 1st quarter valued at $184,000. 35.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE RYI traded down $0.14 during midday trading on Thursday, reaching $6.94. 94,915 shares of the stock were exchanged, compared to its average volume of 151,112. The company has a market capitalization of $259.57 million, a price-to-earnings ratio of 6.49 and a beta of 1.87. Ryerson has a twelve month low of $5.99 and a twelve month high of $11.89. The firm has a 50-day moving average price of $7.82. 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 issued its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.32). The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Ryerson had a return on equity of 56.51% and a net margin of 2.56%. Ryerson’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. On average, analysts forecast that Ryerson will post 2.02 earnings per share for the current fiscal year.

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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