Renaissance Technologies LLC decreased its stake in shares of Ryerson Holding Corporation (NYSE:RYI) by 16.7% during the first quarter, Holdings Channel reports. The firm owned 758,500 shares of the basic materials company’s stock after selling 151,900 shares during the period. Renaissance Technologies LLC’s holdings in Ryerson Holding Corporation were worth $9,557,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Capital Fund Management S.A. increased its stake in shares of Ryerson Holding Corporation by 16.6% in the first quarter. Capital Fund Management S.A. now owns 16,428 shares of the basic materials company’s stock valued at $207,000 after buying an additional 2,335 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Ryerson Holding Corporation during the first quarter valued at approximately $232,000. California Public Employees Retirement System purchased a new stake in shares of Ryerson Holding Corporation during the first quarter valued at approximately $275,000. TFS Capital LLC purchased a new stake in shares of Ryerson Holding Corporation during the first quarter valued at approximately $305,000. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of Ryerson Holding Corporation by 104.6% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 26,800 shares of the basic materials company’s stock valued at $337,000 after buying an additional 13,700 shares during the period. 40.25% of the stock is currently owned by institutional investors.
Shares of Ryerson Holding Corporation (NYSE RYI) opened at 8.90 on Friday. Ryerson Holding Corporation has a one year low of $7.80 and a one year high of $16.85. The stock has a market cap of $330.87 million, a P/E ratio of 15.86 and a beta of 2.19. The stock’s 50 day moving average is $9.24 and its 200-day moving average is $10.82.
Ryerson Holding Corporation (NYSE:RYI) last issued its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. Ryerson Holding Corporation had a negative return on equity of 61.00% and a net margin of 0.67%. The business had revenue of $814.50 million for the quarter, compared to analyst estimates of $788.38 million. On average, equities analysts forecast that Ryerson Holding Corporation will post $1.12 EPS for the current year.
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Several analysts recently commented on the stock. ValuEngine downgraded shares of Ryerson Holding Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 16th. Zacks Investment Research downgraded shares of Ryerson Holding Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, BMO Capital Markets reissued a “hold” rating and set a $13.00 price objective on shares of Ryerson Holding Corporation in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Ryerson Holding Corporation currently has a consensus rating of “Hold” and a consensus target price of $14.33.
In other Ryerson Holding Corporation news, insider Kevin D. Richardson purchased 5,000 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were acquired at an average price of $10.55 per share, for a total transaction of $52,750.00. Following the completion of the purchase, the insider now owns 68,750 shares of the company’s stock, valued at $725,312.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward J. Lehner purchased 3,940 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were acquired at an average price of $9.78 per share, for a total transaction of $38,533.20. Following the purchase, the chief executive officer now directly owns 107,470 shares of the company’s stock, valued at approximately $1,051,056.60. The disclosure for this purchase can be found here. Insiders have bought 29,520 shares of company stock worth $272,186 in the last 90 days. Insiders own 0.76% of the company’s stock.
Ryerson Holding Corporation Company Profile
Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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