Prudential Financial Inc. Reduces Stock Holdings in Ryerson Holding Co. (NYSE:RYI)

Prudential Financial Inc. trimmed its position in Ryerson Holding Co. (NYSE:RYI - Free Report) by 69.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,640 shares of the basic materials company's stock after selling 64,430 shares during the quarter. Prudential Financial Inc. owned about 0.09% of Ryerson worth $530,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in Ryerson in the fourth quarter valued at approximately $54,000. FMR LLC grew its holdings in shares of Ryerson by 159.7% during the 3rd quarter. FMR LLC now owns 7,649 shares of the basic materials company's stock worth $152,000 after purchasing an additional 4,704 shares during the period. US Bancorp DE increased its position in shares of Ryerson by 150.8% during the 4th quarter. US Bancorp DE now owns 11,246 shares of the basic materials company's stock worth $208,000 after purchasing an additional 6,762 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Ryerson in the 4th quarter valued at about $329,000. Finally, Proficio Capital Partners LLC acquired a new position in Ryerson in the fourth quarter valued at about $339,000. Hedge funds and other institutional investors own 94.81% of the company's stock.

Insiders Place Their Bets

In other news, CFO James J. Claussen sold 6,017 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $25.30, for a total transaction of $152,230.10. Following the completion of the transaction, the chief financial officer now directly owns 58,773 shares of the company's stock, valued at approximately $1,486,956.90. The trade was a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward J. Lehner sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $24.79, for a total transaction of $247,900.00. Following the completion of the sale, the chief executive officer now directly owns 593,228 shares in the company, valued at approximately $14,706,122.12. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.95% of the company's stock.

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Ryerson Trading Up 1.4 %

NYSE:RYI traded up $0.30 during trading hours on Friday, reaching $22.03. 191,097 shares of the stock were exchanged, compared to its average volume of 312,486. Ryerson Holding Co. has a twelve month low of $17.18 and a twelve month high of $33.33. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $23.18 and a two-hundred day moving average of $22.28. The company has a market capitalization of $701.52 million, a price-to-earnings ratio of -84.71 and a beta of 1.35.

Ryerson (NYSE:RYI - Get Free Report) last released its earnings results on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.34. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. On average, equities analysts predict that Ryerson Holding Co. will post 1.2 EPS for the current year.

Ryerson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.75 annualized dividend and a yield of 3.41%. Ryerson's dividend payout ratio is presently -288.46%.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets boosted their price target on shares of Ryerson from $23.00 to $25.00 and gave the company a "market perform" rating in a research note on Monday, February 24th.

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.