The Manufacturers Life Insurance Company Reduces Stock Holdings in Ryerson Holding Co. (NYSE:RYI)

The Manufacturers Life Insurance Company reduced its position in Ryerson Holding Co. (NYSE:RYI) by 29.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,016 shares of the basic materials company’s stock after selling 4,610 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ryerson were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in RYI. Newbridge Financial Services Group Inc. bought a new stake in Ryerson in the 2nd quarter valued at about $39,000. Copeland Capital Management LLC purchased a new stake in shares of Ryerson during the 3rd quarter valued at approximately $56,000. SG Americas Securities LLC purchased a new position in Ryerson in the 3rd quarter valued at approximately $108,000. Point72 DIFC Ltd raised its holdings in Ryerson by 16.7% during the 2nd quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 837 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ryerson by 41.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,685 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 2,259 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Insider Buying and Selling

In other Ryerson news, EVP Mark S. Silver sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $24.56, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is owned by company insiders.

Ryerson Price Performance

Shares of NYSE RYI opened at $21.94 on Tuesday. The stock has a fifty day moving average of $23.38 and a 200-day moving average of $21.43. The stock has a market cap of $698.72 million, a PE ratio of 35.97 and a beta of 1.54. 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 Holding Co. has a fifty-two week low of $17.57 and a fifty-two week high of $36.20.

Ryerson (NYSE:RYI) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). The firm 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 quarter last year, the firm posted $1.00 earnings per share.

Ryerson Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.75 dividend on an annualized basis and a yield of 3.42%. Ryerson’s dividend payout ratio is currently 122.95%.

About Ryerson

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.