Denali Advisors LLC Increases Position in Ryerson Holding Co. (NYSE:RYI)

Denali Advisors LLC increased its position in Ryerson Holding Co. (NYSE:RYI) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,186 shares of the basic materials company’s stock after purchasing an additional 15,151 shares during the quarter. Ryerson makes up about 1.6% of Denali Advisors LLC’s portfolio, making the stock its 9th biggest position. Denali Advisors LLC owned approximately 0.47% of Ryerson worth $5,333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its position in Ryerson by 2.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 16,667 shares of the basic materials company’s stock valued at $578,000 after acquiring an additional 336 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Ryerson by 5.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 7,491 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 355 shares during the last quarter. Strs Ohio lifted its holdings in shares of Ryerson by 2.8% during the 4th quarter. Strs Ohio now owns 21,700 shares of the basic materials company’s stock valued at $752,000 after purchasing an additional 600 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Ryerson by 46.5% during the 4th quarter. New York State Teachers Retirement System now owns 2,518 shares of the basic materials company’s stock valued at $87,000 after purchasing an additional 799 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Ryerson by 15.6% during the 4th quarter. Truist Financial Corp now owns 10,597 shares of the basic materials company’s stock valued at $368,000 after purchasing an additional 1,433 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.

Insider Buying and Selling at Ryerson

In other Ryerson news, Director Karen Marie Leggio bought 2,127 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average cost of $23.50 per share, for a total transaction of $49,984.50. Following the transaction, the director now directly owns 2,127 shares of the company’s stock, valued at $49,984.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ryerson news, COO Michael Burbach bought 4,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $23.75 per share, for a total transaction of $95,000.00. Following the transaction, the chief operating officer now directly owns 226,263 shares of the company’s stock, valued at $5,373,746.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Karen Marie Leggio bought 2,127 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average price of $23.50 per share, for a total transaction of $49,984.50. Following the completion of the transaction, the director now directly owns 2,127 shares in the company, valued at $49,984.50. The disclosure for this purchase can be found here. Company insiders own 3.88% of the company’s stock.

Ryerson Stock Performance

RYI stock traded up $0.63 during midday trading on Wednesday, reaching $19.89. The stock had a trading volume of 201,236 shares, compared to its average volume of 288,215. The stock has a market cap of $683.02 million, a PE ratio of 7.47 and a beta of 1.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 2.09. The firm has a fifty day simple moving average of $22.91 and a two-hundred day simple moving average of $29.52. Ryerson Holding Co. has a 52-week low of $19.02 and a 52-week high of $43.87.

Ryerson (NYSE:RYI) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.47). The company had revenue of $1.24 billion for the quarter. Ryerson had a net margin of 1.84% and a return on equity of 10.27%.

Ryerson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a dividend of $0.188 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.78%. Ryerson’s payout ratio is currently 29.07%.

Analyst Ratings Changes

RYI has been the subject of a number of research analyst reports. StockNews.com lowered Ryerson from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. BMO Capital Markets reduced their target price on Ryerson from $33.00 to $28.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd.

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.