The Manufacturers Life Insurance Company Trims Stock Holdings in Ryerson Holding Co. (NYSE:RYI)

The Manufacturers Life Insurance Company trimmed its position in Ryerson Holding Co. (NYSE:RYI) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,053 shares of the basic materials company’s stock after selling 963 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ryerson were worth $186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of Ryerson by 85.8% in the fourth quarter. Franklin Resources Inc. now owns 2,329,803 shares of the basic materials company’s stock worth $43,125,000 after acquiring an additional 1,075,963 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ryerson by 5.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,215,679 shares of the basic materials company’s stock valued at $22,502,000 after purchasing an additional 65,181 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ryerson by 19.7% during 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 in the last quarter. American Century Companies Inc. lifted its holdings in shares of Ryerson by 7.9% during the fourth quarter. American Century Companies Inc. now owns 930,439 shares of the basic materials company’s stock valued at $17,222,000 after purchasing an additional 68,022 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Ryerson by 2.0% during the fourth quarter. William Blair Investment Management LLC now owns 855,246 shares of the basic materials company’s stock valued at $15,831,000 after purchasing an additional 17,075 shares in the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets increased their target price on Ryerson from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Monday, February 24th. StockNews.com downgraded Ryerson from a “buy” rating to a “hold” rating in a research note on Friday, May 9th.

Insider Activity

In related news, CEO Edward J. Lehner sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $24.79, for a total value of $247,900.00. Following the completion of the transaction, the chief executive officer now owns 593,228 shares of the company’s stock, valued at approximately $14,706,122.12. This represents a 1.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James J. Claussen sold 6,017 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 58,773 shares of the company’s stock, valued at $1,486,956.90. The trade was a 9.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.95% of the company’s stock.

Ryerson Price Performance

Shares of Ryerson stock opened at $21.81 on Monday. The stock has a market cap of $702.19 million, a price-to-earnings ratio of -83.88 and a beta of 1.64. 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 stock has a 50 day moving average price of $22.33 and a 200-day moving average price of $22.42. Ryerson Holding Co. has a one year low of $17.18 and a one year high of $27.41.

Ryerson (NYSE:RYI) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. Equities analysts expect that Ryerson Holding Co. will post 1.2 EPS for the current year.

Ryerson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.44%. Ryerson’s dividend payout ratio is presently -340.91%.

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.