Putnam Investments LLC Sells 136,189 Shares of Ryerson Holding Co. (NYSE:RYI)

Putnam Investments LLC lowered its position in Ryerson Holding Co. (NYSE:RYI – Get Rating) by 79.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,269 shares of the basic materials company’s stock after selling 136,189 shares during the period. Putnam Investments LLC owned 0.10% of Ryerson worth $934,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Martingale Asset Management L P bought a new position in Ryerson during the 3rd quarter valued at approximately $766,000. Federated Hermes Inc. increased its position in Ryerson by 0.3% during the 3rd quarter. Federated Hermes Inc. now owns 154,630 shares of the basic materials company’s stock valued at $3,980,000 after buying an additional 482 shares in the last quarter. Bank of New York Mellon Corp increased its position in Ryerson by 12.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 217,973 shares of the basic materials company’s stock valued at $5,610,000 after buying an additional 23,658 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in Ryerson by 22.4% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 50,225 shares of the basic materials company’s stock valued at $1,293,000 after buying an additional 9,185 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in Ryerson by 936.1% during the 3rd quarter. Macquarie Group Ltd. now owns 25,830 shares of the basic materials company’s stock valued at $665,000 after buying an additional 23,337 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Ryerson from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. TheStreet lowered Ryerson from a “b” rating to a “c+” rating in a report on Wednesday, February 22nd.

Ryerson Stock Down 4.1 %

Ryerson stock opened at $35.56 on Tuesday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 3.53 and a beta of 1.77. The stock has a fifty day simple moving average of $36.65 and a two-hundred day simple moving average of $31.81. Ryerson Holding Co. has a 12 month low of $18.68 and a 12 month high of $44.09. The company has a current ratio of 2.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.40.

Ryerson (NYSE:RYI – Get Rating) last posted its earnings results on Wednesday, February 22nd. The basic materials company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($1.35). The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.21 billion. Ryerson had a return on equity of 48.31% and a net margin of 6.18%. Equities analysts predict that Ryerson Holding Co. will post 2.88 EPS for the current fiscal year.

Ryerson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Monday, March 6th will be paid a $0.17 dividend. This is an increase from Ryerson’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, March 3rd. Ryerson’s dividend payout ratio (DPR) is 6.75%.

Ryerson Profile

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Ryerson Holding Corp. engages in the processing and distribution of industrial metals. It processes and distributes products in stainless steel, aluminum carbon steel and alloy steels and a limited line of nickel and red metals in various shapes and forms. The firm serves end-markets including oil and gas, industrial equipment, transportation equipment, heavy equipment, and electrical machinery.