Franklin Resources Inc. Lowers Holdings in Ryerson Holding Co. (NYSE:RYI)

Franklin Resources Inc. cut its stake in shares of Ryerson Holding Co. (NYSE:RYI - Free Report) by 25.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,253,840 shares of the basic materials company's stock after selling 417,933 shares during the quarter. Franklin Resources Inc. owned 3.94% of Ryerson worth $26,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. JB Capital Partners LP boosted its holdings in shares of Ryerson by 4.0% during the third quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company's stock worth $42,430,000 after purchasing an additional 82,313 shares during the period. State Street Corp raised its position in Ryerson by 3.2% during the 3rd quarter. State Street Corp now owns 1,411,397 shares of the basic materials company's stock valued at $28,101,000 after purchasing an additional 43,780 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Ryerson by 164.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company's stock worth $22,906,000 after buying an additional 715,990 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Ryerson by 31.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company's stock worth $16,874,000 after buying an additional 203,314 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Ryerson by 14.2% during the second quarter. American Century Companies Inc. now owns 783,631 shares of the basic materials company's stock valued at $15,281,000 after buying an additional 97,556 shares during the period. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Mark S. Silver sold 9,000 shares of Ryerson stock in a transaction dated 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 transaction, the executive vice president now directly owns 107,664 shares of the company's stock, valued at $2,644,227.84. This trade represents a 7.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.88% of the company's stock.

Ryerson Trading Down 4.9 %

Shares of Ryerson stock traded down $1.03 during midday trading on Thursday, reaching $19.79. 299,956 shares of the company's stock traded hands, compared to its average volume of 300,985. The company has a market cap of $630.25 million, a PE ratio of 32.44 and a beta of 1.54. The stock has a 50 day moving average of $23.37 and a 200-day moving average of $21.40. Ryerson Holding Co. has a 12 month low of $17.57 and a 12 month high of $36.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22.

Ryerson (NYSE:RYI - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.13 billion during the quarter. Ryerson had a return on equity of 2.66% and a net margin of 0.46%. During the same period in the previous year, the business earned $1.00 EPS.

Ryerson Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.75 annualized dividend and a yield of 3.79%. Ryerson's payout ratio is 122.95%.

Ryerson Profile

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.