Geode Capital Management LLC Sells 30,709 Shares of Ryerson Holding Co. (NYSE:RYI)

Geode Capital Management LLC reduced its stake in shares of Ryerson Holding Co. (NYSE:RYI) by 4.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 615,003 shares of the basic materials company’s stock after selling 30,709 shares during the period. Geode Capital Management LLC owned about 1.93% of Ryerson worth $11,387,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Ryerson in the fourth quarter worth about $54,000. US Bancorp DE grew its stake in Ryerson by 150.8% in the 4th quarter. US Bancorp DE now owns 11,246 shares of the basic materials company’s stock valued at $208,000 after buying an additional 6,762 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Ryerson during the 4th quarter valued at $329,000. Proficio Capital Partners LLC purchased a new stake in shares of Ryerson during the fourth quarter worth $339,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Ryerson by 9.4% in the fourth quarter. Hantz Financial Services Inc. now owns 30,067 shares of the basic materials company’s stock worth $557,000 after acquiring an additional 2,590 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Insider Buying and Selling at Ryerson

In other Ryerson news, CFO James J. Claussen sold 6,017 shares of the company’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 completion of the sale, the chief financial officer now owns 58,773 shares of the company’s stock, valued at $1,486,956.90. This represents a 9.29 % 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. Also, CEO Edward J. Lehner sold 10,000 shares of Ryerson stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $24.79, for a total transaction of $247,900.00. Following the transaction, the chief executive officer now directly owns 593,228 shares in the company, valued at $14,706,122.12. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.95% of the stock is currently owned by company insiders.

Ryerson Price Performance

Shares of NYSE:RYI opened at $22.53 on Wednesday. Ryerson Holding Co. has a 12 month low of $17.18 and a 12 month high of $32.16. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market cap of $717.57 million, a P/E ratio of -86.65 and a beta of 1.35. The company has a 50 day moving average of $23.10 and a 200 day moving average of $22.37.

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

Ryerson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Thursday, March 6th. Ryerson’s dividend payout ratio is currently -288.46%.

Wall Street Analysts Forecast Growth

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

Ryerson 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.