Ryerson (NYSE:RYZ) CEO Edward Lehner Sells 21,968 Shares of Stock
by Michael Walen · The Markets DailyRyerson Holding (NYSE:RYZ – Get Free Report) CEO Edward Lehner sold 21,968 shares of Ryerson stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $31.22, for a total value of $685,840.96. Following the sale, the chief executive officer directly owned 623,596 shares in the company, valued at $19,468,667.12. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Ryerson Stock Performance
NYSE:RYZ opened at $26.56 on Friday. The stock’s 50-day moving average is $26.45 and its 200-day moving average is $26.54. Ryerson Holding has a 1-year low of $19.34 and a 1-year high of $33.72. The company has a current ratio of 2.16, a quick ratio of 1.02 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.37 billion, a P/E ratio of -156.26 and a beta of 1.50.
Ryerson (NYSE:RYZ – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.22. Ryerson had a net margin of 0.21% and a return on equity of 3.48%. The business had revenue of $2.18 billion during the quarter. Equities research analysts anticipate that Ryerson Holding will post 1.85 earnings per share for the current year.
Ryerson Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, December 3rd. Ryerson’s dividend payout ratio is -441.18%.
Hedge Funds Weigh In On Ryerson
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust bought a new stake in shares of Ryerson in the 2nd quarter valued at $25,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Ryerson during the second quarter worth $33,000. Quantbot Technologies LP acquired a new stake in shares of Ryerson during the second quarter worth $66,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Ryerson during the second quarter worth $130,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Ryerson during the second quarter worth $148,000. 94.81% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently commented on RYZ. Wall Street Zen upgraded shares of Ryerson from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Ryerson from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, October 30th. Finally, Zacks Research upgraded Ryerson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, Ryerson currently has an average rating of “Moderate Buy”.
Check Out Our Latest Stock Analysis on RYZ
About Ryerson
Ryerson Holding Corporation is a value-added processor and distributor of industrial metals. The company supplies carbon steel, stainless steel, aluminum, nickel, and copper products to manufacturers and other industrial customers, offering materials in forms such as sheets, plates, coils, bars, tubes, and structural products.
In addition to distributing metals, Ryerson provides processing and fabrication services designed to prepare materials for customer specifications. These services include cutting, slitting, sawing, forming, machining, and other methods that help customers manage their material requirements and supply chains.
Founded in Chicago in 1842 by Joseph T.
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