(NYSE:RYI) shares saw heavy trading volume with 452K shares changing hands on Tuesday. Overall, volume was up 78.16% over the stocks normal daily volume.
Investors are feeling more bullish on shares of the company recently if you take into consideration the decrease in short interest. The firm saw a fall in short interest from September 29, 2017 to October 13, 2017 of -4.17%. Short interest fell from 988,355 to 947,125 over that timeframe. With short interest at 947,125 and short average daily volume at 224,806, days to cover is 4.0 and the percentage of shorted shares was 0.03% on October 13.
These funds have shifted positions in (RYI). As of quarter end Trellus Management Company, LLC had acquired 1,000 shares growing its holdings by 7.2%. The value of the investment in Ryerson Holding Corporation increased from $138,000 to $162,000 a change of 17.4% since the last quarter. Nationwide Fund Advisors reduced its ownership by shedding 51,286 shares a decrease of 61.1% in the quarter. Nationwide Fund Advisors owns 32,646 shares with a value of $354,000. The total value of its holdings decreased 57.4%.
Victory Capital Management Inc augmented its investment by buying 5,381 shares an increase of 4.5% from 06/30/2017 to 09/30/2017. Victory Capital Management Inc now controls 124,081 shares valued at $1,346,000. The value of the position overall is up by 14.6%. As of the end of the quarter Simplex Trading, LLC had bought a total of 878 shares growing its position 522.6%. The value of the investment in RYI went from $1,000 to $11,000 a change of $10,000 quarter over quarter.
The company is now down by 2.22% since yesterday’s close of $8.80. Company shares last traded at $8.80 a tad below $9.48, the 50 day moving average and just below the 200 day moving average of $9.49. The 50 day moving average went down $-0.68 or -7.15% and the 200 day average moved down $-0.69.
The company’s P/E ratio is 21.84 and the market cap is 327.15M. In the last earnings report the EPS was $0.40 and is projected to be $0.60 for the current year with 37,176,000 shares now outstanding. Next quarter’s EPS is estimated at $0.18 with next year’s EPS anticipated to be $1.36.
Ryerson Holding Corporation (Ryerson Holding), launched on July 16, 2007, is a service center company for carbon and stainless steel, as well as aluminum. The Company carried a line of over 65,000 products in stainless steel, aluminum, carbon steel and alloy steels and a limited line of nickel and red metals in various shapes and forms, as of December 31, 2016. It 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. It owns, leases or contracts a fleet of tractors and trailers..