Charles Schwab Investment Management Inc. grew its holdings in Ryerson Holding Co. (NYSE:RYI - Free Report) by 31.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 847,514 shares of the basic materials company's stock after purchasing an additional 203,314 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.66% of Ryerson worth $16,874,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of RYI. Denali Advisors LLC raised its holdings in Ryerson by 34.3% during the 2nd quarter. Denali Advisors LLC now owns 213,807 shares of the basic materials company's stock valued at $4,169,000 after acquiring an additional 54,621 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Ryerson by 34.1% in the 2nd quarter. Renaissance Technologies LLC now owns 278,600 shares of the basic materials company's stock valued at $5,433,000 after acquiring an additional 70,901 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Ryerson by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 15,626 shares of the basic materials company's stock valued at $305,000 after purchasing an additional 1,157 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in Ryerson in the second quarter worth $595,000. Finally, Grace & White Inc. NY bought a new stake in Ryerson during the third quarter worth about $1,185,000. 94.81% of the stock is currently owned by hedge funds and other institutional investors.
Ryerson Price Performance
Shares of RYI traded down $0.72 during midday trading on Friday, reaching $23.86. The stock had a trading volume of 136,874 shares, compared to its average volume of 195,261. The company has a market capitalization of $759.87 million, a price-to-earnings ratio of 39.11 and a beta of 1.54. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Ryerson Holding Co. has a 12-month low of $17.57 and a 12-month high of $36.20. The company's 50-day moving average is $22.99 and its 200 day moving average is $21.48.
Ryerson (NYSE:RYI - Get Free Report) last released its earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.26). The business had revenue of $1.13 billion for the quarter. Ryerson had a net margin of 0.46% and a return on equity of 2.66%. During the same quarter in the prior year, the company posted $1.00 earnings per share.
Ryerson Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, December 5th. Ryerson's dividend payout ratio is presently 122.95%.
Insider Buying and Selling
In other Ryerson news, EVP Mark S. Silver sold 9,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $24.56, for a total transaction of $221,040.00. Following the completion of the sale, the executive vice president now owns 107,664 shares of the company's stock, valued at $2,644,227.84. This represents a 7.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.88% of the stock is owned by corporate insiders.
About Ryerson
(
Free Report)
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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