Geode Capital Management LLC Cuts Stake in Ryerson Holding Co. (NYSE:RYI)

Geode Capital Management LLC lowered its holdings in shares of Ryerson Holding Co. (NYSE:RYI) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 645,712 shares of the basic materials company’s stock after selling 13,177 shares during the period. Geode Capital Management LLC’s holdings in Ryerson were worth $12,859,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. JB Capital Partners LP grew its position 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 in the last quarter. State Street Corp grew its position in shares of Ryerson by 3.2% during the third quarter. State Street Corp now owns 1,411,397 shares of the basic materials company’s stock worth $28,101,000 after purchasing an additional 43,780 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Ryerson by 164.8% during the third quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company’s stock worth $22,906,000 after purchasing an additional 715,990 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ryerson by 31.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company’s stock worth $16,874,000 after purchasing an additional 203,314 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Ryerson by 14.2% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Stock Down 2.1 %

Shares of RYI opened at $18.17 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.22 and a quick ratio of 1.06. The stock has a market capitalization of $578.66 million, a price-to-earnings ratio of 29.79 and a beta of 1.54. Ryerson Holding Co. has a 1 year low of $17.57 and a 1 year high of $36.15. The business’s 50 day simple moving average is $23.01 and its 200-day simple moving average is $21.24.

Ryerson (NYSE:RYI) last released 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). Ryerson had a net margin of 0.46% and a return on equity of 2.66%. The business had revenue of $1.13 billion for the quarter. During the same period in the prior year, the business earned $1.00 EPS.

Ryerson Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.1875 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.75 annualized dividend and a yield of 4.13%. Ryerson’s payout ratio is currently 122.95%.

Insider Buying and Selling at Ryerson

In other 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 value of $221,040.00. Following the sale, the executive vice president now owns 107,664 shares of the company’s stock, valued at approximately $2,644,227.84. This represents a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.88% of the company’s stock.

Ryerson Company 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.