Ryerson Holding Co. (NYSE:RYI) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in shares of Ryerson Holding Co. (NYSE:RYI) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 44,361 shares of the basic materials company’s stock after selling 1,201 shares during the quarter. Rhumbline Advisers’ holdings in Ryerson were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new stake in shares of Ryerson during the fourth quarter valued at about $54,000. FMR LLC lifted its stake in shares of Ryerson by 159.7% in the 3rd quarter. FMR LLC now owns 7,649 shares of the basic materials company’s stock worth $152,000 after acquiring an additional 4,704 shares during the period. Intech Investment Management LLC bought a new position in shares of Ryerson in the third quarter valued at approximately $207,000. Nisa Investment Advisors LLC raised its holdings in Ryerson by 3,103.6% during the third quarter. Nisa Investment Advisors LLC now owns 12,430 shares of the basic materials company’s stock worth $247,000 after purchasing an additional 12,042 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Ryerson in the third quarter worth approximately $272,000. 94.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Ryerson Stock Down 1.3 %

Shares of Ryerson stock opened at $24.37 on Friday. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62. Ryerson Holding Co. has a 12-month low of $17.18 and a 12-month high of $34.65. The firm has a market capitalization of $776.05 million, a PE ratio of -93.71 and a beta of 1.59. The stock’s fifty day moving average is $21.60 and its 200-day moving average is $21.54.

Ryerson (NYSE:RYI) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.34. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. Equities analysts anticipate that Ryerson Holding Co. will post 1.2 earnings per share for the current year.

Ryerson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.75 annualized dividend and a yield of 3.08%. Ryerson’s dividend payout ratio is presently -288.46%.

Insider Transactions at Ryerson

In related news, CFO James J. Claussen sold 6,017 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $25.30, for a total value of $152,230.10. Following the transaction, the chief financial officer now directly owns 58,773 shares of the company’s stock, valued at approximately $1,486,956.90. This trade represents a 9.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward J. Lehner sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $24.79, for a total value of $247,900.00. Following the sale, the chief executive officer now directly owns 593,228 shares of the company’s stock, valued at $14,706,122.12. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. 3.88% of the stock is currently owned by company insiders.

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.