Ryerson Holding Corporation (NYSE:RYI) – KeyCorp lowered their Q2 2017 earnings estimates for Ryerson Holding Corporation in a note issued to investors on Tuesday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $0.30 per share for the quarter, down from their prior estimate of $0.35. KeyCorp also issued estimates for Ryerson Holding Corporation’s FY2017 earnings at $1.20 EPS.
Ryerson Holding Corporation (NYSE:RYI) last announced its earnings results on Wednesday, May 3rd. The basic materials company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The firm had revenue of $814.50 million for the quarter, compared to the consensus estimate of $788.38 million. Ryerson Holding Corporation had a negative return on equity of 61.00% and a net margin of 0.67%.
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A number of other research analysts have also commented on the company. ValuEngine lowered Ryerson Holding Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 16th. BMO Capital Markets reiterated a “hold” rating and issued a $13.00 price objective on shares of Ryerson Holding Corporation in a research report on Thursday, April 20th. Finally, Zacks Investment Research upgraded Ryerson Holding Corporation from a “strong sell” rating to a “hold” rating and set a $12.00 price objective on the stock in a research report on Tuesday, March 14th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.33.
Shares of Ryerson Holding Corporation (RYI) opened at 8.95 on Thursday. The company has a market cap of $332.73 million, a P/E ratio of 15.95 and a beta of 2.20. Ryerson Holding Corporation has a 1-year low of $7.80 and a 1-year high of $19.71. The stock has a 50 day moving average price of $9.86 and a 200-day moving average price of $11.78.
A number of hedge funds and other institutional investors have recently made changes to their positions in RYI. Scopus Asset Management L.P. increased its position in Ryerson Holding Corporation by 78.2% in the first quarter. Scopus Asset Management L.P. now owns 574,549 shares of the basic materials company’s stock worth $7,239,000 after buying an additional 252,089 shares during the period. Acadian Asset Management LLC bought a new position in Ryerson Holding Corporation during the first quarter worth $2,210,000. Sanders Morris Harris Inc. bought a new position in Ryerson Holding Corporation during the first quarter worth $2,021,000. Menta Capital LLC bought a new position in Ryerson Holding Corporation during the first quarter worth $1,951,000. Finally, Dimensional Fund Advisors LP increased its position in Ryerson Holding Corporation by 34.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 495,562 shares of the basic materials company’s stock worth $6,617,000 after buying an additional 126,695 shares during the period. Hedge funds and other institutional investors own 40.29% of the company’s stock.
In other news, CEO Edward J. Lehner acquired 3,940 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were purchased at an average cost of $9.78 per share, for a total transaction of $38,533.20. Following the transaction, the chief executive officer now owns 107,470 shares of the company’s stock, valued at $1,051,056.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen P. Larson acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, March 28th. The stock was purchased at an average price of $10.76 per share, for a total transaction of $107,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $215,200. The disclosure for this purchase can be found here. Insiders acquired a total of 40,120 shares of company stock worth $386,416 over the last quarter. Corporate insiders own 0.76% of the company’s stock.
Ryerson Holding Corporation Company Profile
Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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