GAMMA Investing LLC Increases Stock Holdings in Ryerson Holding Corporation (NYSE:RYI)

GAMMA Investing LLC boosted its position in shares of Ryerson Holding Corporation (NYSE:RYI) by 2,147.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,896 shares of the basic materials company’s stock after acquiring an additional 26,655 shares during the quarter. GAMMA Investing LLC owned 0.09% of Ryerson worth $640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RYI. Tower Research Capital LLC TRC grew its stake in shares of Ryerson by 488.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 3,061 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in Ryerson in the fourth quarter valued at $196,000. US Bancorp DE increased its holdings in Ryerson by 150.8% in the fourth 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 during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ryerson by 11.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,455 shares of the basic materials company’s stock valued at $305,000 after buying an additional 1,734 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Ryerson by 19.5% in the fourth quarter. Wells Fargo & Company MN now owns 16,821 shares of the basic materials company’s stock valued at $311,000 after buying an additional 2,749 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RYI. Wall Street Zen lowered Ryerson from a “buy” rating to a “hold” rating in a report on Friday, May 9th. 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.

Ryerson Stock Performance

NYSE:RYI opened at $20.56 on Thursday. The firm has a market capitalization of $662.13 million, a PE ratio of -93.47 and a beta of 1.55. The business’s fifty day moving average price is $21.64 and its 200 day moving average price is $21.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.00 and a quick ratio of 0.99. Ryerson Holding Corporation has a 12 month low of $17.18 and a 12 month high of $27.41.

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 the consensus estimate of ($0.23) by $0.05. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. Ryerson had a negative return on equity of 0.65% and a negative net margin of 0.15%. On average, sell-side analysts anticipate that Ryerson Holding Corporation will post 1.2 earnings per share for the current fiscal year.

Ryerson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Thursday, June 5th. Ryerson’s payout ratio is -340.91%.

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.