Grab This Cheap Metals Stock Even Lower Than Director Larson DidBy Metals Channel Staff, Tuesday, August 15, 3:33 PM ETThere's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 10, Ryerson Holding Corp's Director, Stephen P. Larson, invested $147,749.50 into 5,000 shares of RYI, for a cost per share of $29.55. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Ryerson Holding Corp (NYSE:RYI) and achieve a cost basis 3.8% cheaper than Larson, with shares changing hands as low as $28.43 per share. Ryerson Holding Corp shares are currently trading up about 0.8% on the day. The chart below shows the one year performance of RYI shares, versus its 200 day moving average:
Looking at the chart above, RYI's low point in its 52 week range is $23.63 per share, with $44.70 as the 52 week high point — that compares with a last trade of $29.64. By comparison, below is a table showing the prices at which RYI insider buying was recorded over the last six months:
The current annualized dividend paid by Ryerson Holding Corp is $0.73/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 08/30/2023. Below is a long-term dividend history chart for RYI, which can be of good help in judging whether the most recent dividend with approx. 2.5% annualized yield is likely to continue.
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