Ryerson Holding Co. (NYSE:RYI) Holdings Boosted by Bank of America Corp DE

Bank of America Corp DE boosted its position in shares of Ryerson Holding Co. (NYSE:RYI) by 57.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,918 shares of the basic materials company’s stock after purchasing an additional 37,903 shares during the period. Bank of America Corp DE owned 0.33% of Ryerson worth $1,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Ryerson during the 4th quarter worth approximately $54,000. Tower Research Capital LLC TRC grew its holdings in shares of Ryerson by 488.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 3,061 shares in the last quarter. US Bancorp DE grew its holdings in shares of Ryerson by 150.8% during the 4th quarter. US Bancorp DE now owns 11,246 shares of the basic materials company’s stock valued at $208,000 after acquiring an additional 6,762 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Ryerson by 11.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,455 shares of the basic materials company’s stock valued at $305,000 after acquiring an additional 1,734 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Ryerson by 19.5% during the 4th quarter. Wells Fargo & Company MN now owns 16,821 shares of the basic materials company’s stock valued at $311,000 after acquiring an additional 2,749 shares in the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Ryerson from a “buy” rating to a “hold” rating in a report on Friday, May 9th. BMO Capital Markets boosted their price target on shares of Ryerson from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Monday, February 24th.

Ryerson Trading Up 1.6%

Ryerson stock opened at $22.08 on Wednesday. The company’s fifty day simple moving average is $21.81 and its 200-day simple moving average is $22.19. 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 $27.41. The stock has a market cap of $710.82 million, a P/E ratio of -84.92 and a beta of 1.64.

Ryerson (NYSE:RYI) last issued its quarterly earnings data 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. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. As a group, sell-side analysts forecast that Ryerson Holding Co. will post 1.2 EPS for the current fiscal year.

Ryerson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, June 5th. 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.