Allspring Global Investments Holdings LLC Reduces Stake in Ryerson Holding Co. (NYSE:RYI)

Allspring Global Investments Holdings LLC lowered its holdings in Ryerson Holding Co. (NYSE:RYIGet Rating) by 92.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,609 shares of the basic materials company’s stock after selling 144,207 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ryerson were worth $324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Ryerson by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,321,437 shares of the basic materials company’s stock valued at $46,279,000 after purchasing an additional 32,746 shares during the period. State Street Corp raised its position in shares of Ryerson by 31.3% in the second quarter. State Street Corp now owns 1,215,294 shares of the basic materials company’s stock valued at $25,874,000 after purchasing an additional 289,773 shares during the period. Vanguard Group Inc. raised its position in shares of Ryerson by 2.5% in the first quarter. Vanguard Group Inc. now owns 855,308 shares of the basic materials company’s stock valued at $29,954,000 after purchasing an additional 20,976 shares during the period. Millennium Management LLC raised its position in shares of Ryerson by 128.4% in the second quarter. Millennium Management LLC now owns 588,135 shares of the basic materials company’s stock valued at $12,521,000 after purchasing an additional 330,600 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Ryerson by 377.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 307,803 shares of the basic materials company’s stock worth $6,553,000 after acquiring an additional 243,398 shares during the period. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Ryerson from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 3rd.

Ryerson Price Performance

Shares of NYSE:RYI opened at $33.28 on Wednesday. The company’s fifty day moving average price is $30.57 and its 200-day moving average price is $28.90. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 2.48 and a beta of 1.66. Ryerson Holding Co. has a one year low of $17.90 and a one year high of $44.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.41 and a quick ratio of 1.09.

Ryerson (NYSE:RYIGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The basic materials company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.99). The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. Ryerson had a return on equity of 71.19% and a net margin of 7.94%. On average, equities research analysts anticipate that Ryerson Holding Co. will post 11.85 earnings per share for the current fiscal year.

Ryerson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.92%. This is a boost from Ryerson’s previous quarterly dividend of $0.15. Ryerson’s dividend payout ratio is presently 4.76%.

Insider Buying and Selling at Ryerson

In other news, Director Stephen P. Larson purchased 10,000 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was acquired at an average price of $30.37 per share, with a total value of $303,700.00. Following the transaction, the director now directly owns 75,000 shares of the company’s stock, valued at approximately $2,277,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.66% of the stock is currently owned by corporate insiders.

About Ryerson

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Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. 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.

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Institutional Ownership by Quarter for Ryerson (NYSE:RYI)

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