Putnam Investments LLC Sells 136,189 Shares of Ryerson Holding Co. (NYSE:RYI)

Putnam Investments LLC lessened its holdings in shares of Ryerson Holding Co. (NYSE:RYI – Get Rating) by 79.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,269 shares of the basic materials company’s stock after selling 136,189 shares during the period. Putnam Investments LLC’s holdings in Ryerson were worth $934,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Ryerson by 76.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the basic materials company’s stock valued at $45,000 after buying an additional 759 shares during the period. Lazard Asset Management LLC boosted its position in shares of Ryerson by 166.6% during the third quarter. Lazard Asset Management LLC now owns 2,189 shares of the basic materials company’s stock valued at $56,000 after buying an additional 1,368 shares during the period. Macquarie Group Ltd. purchased a new position in shares of Ryerson during the second quarter valued at approximately $53,000. Amalgamated Bank boosted its position in shares of Ryerson by 19.7% during the third quarter. Amalgamated Bank now owns 2,547 shares of the basic materials company’s stock valued at $66,000 after buying an additional 420 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in shares of Ryerson during the first quarter valued at approximately $104,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Ryerson Stock Down 4.1 %

Shares of NYSE RYI opened at $35.56 on Tuesday. The stock has a 50 day moving average price of $36.65 and a 200 day moving average price of $31.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.04 and a current ratio of 2.33. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 3.53 and a beta of 1.77. Ryerson Holding Co. has a 52-week low of $18.68 and a 52-week high of $44.09.

Ryerson (NYSE:RYI – Get Rating) last posted its earnings results on Wednesday, February 22nd. The basic materials company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($1.35). The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Ryerson had a return on equity of 48.31% and a net margin of 6.18%. Sell-side analysts expect that Ryerson Holding Co. will post 2.88 earnings per share for the current year.

Ryerson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Monday, March 6th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.91%. This is a positive change from Ryerson’s previous quarterly dividend of $0.16. Ryerson’s dividend payout ratio is currently 6.75%.

Wall Street Analyst Weigh In

RYI has been the subject of a number of research reports. BMO Capital Markets boosted their price target on Ryerson from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, February 24th. TheStreet lowered Ryerson from a “b” rating to a “c+” rating in a report on Wednesday, February 22nd.

Ryerson Company Profile

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Ryerson Holding Corp. engages in the processing and distribution of industrial metals. It processes and distributes products in stainless steel, aluminum carbon steel and alloy steels and a limited line of nickel and red metals in various shapes and forms. The firm serves end-markets including oil and gas, industrial equipment, transportation equipment, heavy equipment, and electrical machinery.