Victory Capital Management Inc. Buys 715,990 Shares of Ryerson Holding Co. (NYSE:RYI)

Victory Capital Management Inc. grew its stake in shares of Ryerson Holding Co. (NYSE:RYI) by 164.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,150,498 shares of the basic materials company’s stock after purchasing an additional 715,990 shares during the quarter. Victory Capital Management Inc.’s holdings in Ryerson were worth $22,906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RYI. Newbridge Financial Services Group Inc. purchased a new position in shares of Ryerson in the second quarter valued at $39,000. Copeland Capital Management LLC purchased a new position in shares of Ryerson in the third quarter valued at $56,000. SG Americas Securities LLC purchased a new position in shares of Ryerson in the third quarter valued at $108,000. Point72 DIFC Ltd grew its holdings in shares of Ryerson by 16.7% in the second quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 837 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ryerson by 41.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,685 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 2,259 shares in the last quarter. Institutional investors own 94.81% of the company’s stock.

Ryerson Trading Up 0.4 %

RYI stock opened at $24.77 on Tuesday. The firm has a fifty day moving average price of $21.21 and a 200 day moving average price of $21.25. Ryerson Holding Co. has a fifty-two week low of $17.57 and a fifty-two week high of $36.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22. The firm has a market cap of $788.85 million, a PE ratio of 40.61 and a beta of 1.54.

Ryerson (NYSE:RYI) last posted its earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). The business had revenue of $1.13 billion during the quarter. Ryerson had a net margin of 0.46% and a return on equity of 2.66%. During the same period in the previous year, the business posted $1.00 earnings per share.

Ryerson Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.03%. The ex-dividend date is Thursday, December 5th. Ryerson’s payout ratio is 122.95%.

Insiders Place Their Bets

In other Ryerson news, EVP Mark S. Silver sold 9,000 shares of Ryerson stock in a transaction on Friday, November 15th. The shares were sold at an average price of $24.56, for a total transaction of $221,040.00. Following the completion of the transaction, the executive vice president now directly owns 107,664 shares of the company’s stock, valued at $2,644,227.84. The trade was a 7.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.88% of the stock is owned by insiders.

Ryerson Company Profile

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.