Renaissance Technologies LLC lowered its stake in Ryerson Holding Corporation (NYSE:RYI) by 16.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 758,500 shares of the basic materials company’s stock after selling 151,900 shares during the period. Renaissance Technologies LLC owned about 2.04% of Ryerson Holding Corporation worth $9,557,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Ryerson Holding Corporation during the fourth quarter valued at approximately $419,000. State Street Corp raised its position in shares of Ryerson Holding Corporation by 23.3% in the fourth quarter. State Street Corp now owns 222,489 shares of the basic materials company’s stock valued at $2,970,000 after buying an additional 42,079 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ryerson Holding Corporation by 34.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 495,562 shares of the basic materials company’s stock valued at $6,617,000 after buying an additional 126,695 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of Ryerson Holding Corporation by 8.2% in the fourth quarter. Federated Investors Inc. PA now owns 25,817 shares of the basic materials company’s stock valued at $345,000 after buying an additional 1,956 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Ryerson Holding Corporation during the first quarter valued at approximately $232,000. 39.74% of the stock is owned by institutional investors.
Shares of Ryerson Holding Corporation (NYSE RYI) traded up 8.18% during mid-day trading on Wednesday, reaching $8.60. The company’s stock had a trading volume of 360,630 shares. The stock has a market capitalization of $319.71 million, a P/E ratio of 21.34 and a beta of 2.11. Ryerson Holding Corporation has a 12-month low of $7.80 and a 12-month high of $16.85. The company’s 50-day moving average price is $8.90 and its 200-day moving average price is $10.34.
Ryerson Holding Corporation (NYSE:RYI) last issued its earnings results on Thursday, August 3rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.05. The business had revenue of $875.40 million for the quarter, compared to the consensus estimate of $875.13 million. Ryerson Holding Corporation had a net margin of 0.48% and a negative return on equity of 53.49%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. On average, equities research analysts forecast that Ryerson Holding Corporation will post $1.09 earnings per share for the current fiscal year.
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RYI has been the subject of several recent analyst reports. BMO Capital Markets reissued a “hold” rating and set a $13.00 price objective on shares of Ryerson Holding Corporation in a report on Thursday, April 20th. ValuEngine lowered Ryerson Holding Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 16th. Zacks Investment Research lowered Ryerson Holding Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. BidaskClub lowered Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, TheStreet raised Ryerson Holding Corporation from a “d” rating to a “c” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $14.60.
In other news, CEO Edward J. Lehner purchased 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was acquired at an average price of $8.76 per share, for a total transaction of $43,800.00. Following the acquisition, the chief executive officer now directly owns 115,470 shares of the company’s stock, valued at approximately $1,011,517.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Burbach purchased 4,800 shares of the business’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $8.50 per share, with a total value of $40,800.00. Following the acquisition, the insider now directly owns 57,800 shares in the company, valued at $491,300. The disclosure for this purchase can be found here. Insiders have acquired a total of 26,330 shares of company stock valued at $219,429 in the last 90 days. 0.76% of the stock is currently owned by company insiders.
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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