Vanguard Group Inc. Cuts Stock Holdings in Ryerson Holding Co. (NYSE:RYI)

Vanguard Group Inc. reduced its stake in Ryerson Holding Co. (NYSE:RYI) by 14.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,708,337 shares of the basic materials company’s stock after selling 281,972 shares during the quarter. Vanguard Group Inc. owned approximately 5.36% of Ryerson worth $31,621,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Ryerson by 19.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,014,110 shares of the basic materials company’s stock valued at $18,771,000 after purchasing an additional 166,596 shares during the last quarter. American Century Companies Inc. increased its stake in Ryerson by 7.9% in the 4th quarter. American Century Companies Inc. now owns 930,439 shares of the basic materials company’s stock valued at $17,222,000 after buying an additional 68,022 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Ryerson by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,215,679 shares of the basic materials company’s stock worth $22,502,000 after buying an additional 65,181 shares in the last quarter. State Street Corp boosted its stake in shares of Ryerson by 3.2% in the 3rd quarter. State Street Corp now owns 1,411,397 shares of the basic materials company’s stock worth $28,101,000 after buying an additional 43,780 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Ryerson by 167.0% in the third quarter. Barclays PLC now owns 55,330 shares of the basic materials company’s stock valued at $1,101,000 after acquiring an additional 34,604 shares in the last quarter. 94.81% of the stock is currently owned by institutional investors.

Ryerson Price Performance

RYI opened at $22.03 on Monday. Ryerson Holding Co. has a fifty-two week low of $17.18 and a fifty-two week high of $33.33. The firm has a 50-day moving average of $23.18 and a 200 day moving average of $22.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22. The firm has a market cap of $701.52 million, a P/E ratio of -84.71 and a beta of 1.35.

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

Ryerson Dividend Announcement

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

Insider Transactions at Ryerson

In other Ryerson news, CEO Edward J. Lehner sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $24.79, for a total transaction 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. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 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. This trade represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.95% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.