Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ryerson Holding Corp (NYSE:RYI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,924 shares of the basic materials company’s stock, valued at approximately $249,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Ryerson as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in RYI. Van ECK Associates Corp lifted its stake in Ryerson by 19.4% in the second quarter. Van ECK Associates Corp now owns 29,074 shares of the basic materials company’s stock valued at $242,000 after buying an additional 4,718 shares during the period. Bank of America Corp DE raised its position in Ryerson by 10.5% in the 4th quarter. Bank of America Corp DE now owns 50,832 shares of the basic materials company’s stock valued at $323,000 after buying an additional 4,846 shares during the last quarter. WINTON GROUP Ltd raised its position 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 buying an additional 5,015 shares during the last quarter. Victory Capital Management Inc. raised its position 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 buying an additional 37,765 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its position in 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 last quarter. Institutional investors own 35.65% of the company’s stock.
A number of brokerages have issued reports on RYI. Zacks Investment Research upgraded Ryerson from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Deutsche Bank set a $10.00 price target on Ryerson and gave the stock a “hold” rating in a research note on Thursday, July 11th. ValuEngine upgraded Ryerson from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, BMO Capital Markets dropped their price objective on Ryerson from $9.00 to $7.00 and set a “market perform” rating on the stock in a report on Monday, August 26th.
RYI traded up $0.28 during trading on Friday, reaching $9.49. 11,916 shares of the company were exchanged, compared to its average volume of 145,302. The company’s 50-day moving average is $7.34 and its two-hundred day moving average is $8.28. Ryerson Holding Corp has a 12-month low of $5.99 and a 12-month high of $11.89. The company has a market cap of $358.15 million, a price-to-earnings ratio of 8.88 and a beta of 1.92. 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 (NYSE:RYI) last released its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.32). The business had revenue of $1.20 billion during 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%. The business’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 EPS. Equities analysts forecast that Ryerson Holding Corp 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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