Ryerson Holding Co. (NYSE:RYI – Get Free Report) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 823,700 shares, a decline of 14.7% from the August 31st total of 966,200 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 399,200 shares, the short-interest ratio is presently 2.1 days.
Institutional Investors Weigh In On Ryerson
Several institutional investors have recently bought and sold shares of RYI. Newbridge Financial Services Group Inc. acquired a new stake in Ryerson in the 2nd quarter worth about $39,000. Point72 DIFC Ltd boosted its holdings in shares of Ryerson by 16.7% during the 2nd quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 837 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Ryerson during the 1st quarter worth approximately $139,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ryerson by 41.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,685 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 2,259 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Ryerson by 2,177.4% during the 1st quarter. Comerica Bank now owns 6,855 shares of the basic materials company’s stock worth $230,000 after purchasing an additional 6,554 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.
Ryerson Price Performance
Shares of Ryerson stock opened at $19.90 on Monday. The company has a quick ratio of 1.11, a current ratio of 2.38 and a debt-to-equity ratio of 0.59. Ryerson has a twelve month low of $17.57 and a twelve month high of $36.20. The business has a 50-day moving average price of $20.04 and a 200 day moving average price of $23.71. The firm has a market cap of $660.68 million, a PE ratio of 7.71 and a beta of 1.56.
Ryerson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a $0.188 dividend. This represents a $0.75 annualized dividend and a yield of 3.78%. The ex-dividend date was Thursday, September 5th. Ryerson’s payout ratio is 29.07%.
About Ryerson
Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States and internationally. It offers a line of products in carbon steel, stainless steel, alloy steels, and aluminum, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural, and tubing.
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