Ryerson Holding Co. (NYSE:RYI) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in shares of Ryerson Holding Co. (NYSE:RYI) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,651 shares of the basic materials company’s stock after purchasing an additional 3,396 shares during the quarter. Wedge Capital Management L L P NC owned 0.05% of Ryerson worth $612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Ryerson by 28.6% during the third quarter. Vanguard Group Inc. now owns 2,233,108 shares of the basic materials company’s stock valued at $64,961,000 after buying an additional 496,913 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Ryerson during the third quarter valued at approximately $23,522,000. Jacobs Levy Equity Management Inc. raised its stake in Ryerson by 47.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company’s stock valued at $17,053,000 after buying an additional 189,517 shares in the last quarter. American Century Companies Inc. raised its stake in Ryerson by 19.4% during the third quarter. American Century Companies Inc. now owns 450,532 shares of the basic materials company’s stock valued at $13,106,000 after buying an additional 73,136 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Ryerson by 9.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 443,992 shares of the basic materials company’s stock valued at $12,916,000 after buying an additional 37,518 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Insider Activity

In related news, insider Alagu Sundarrajan sold 7,407 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $32.77, for a total value of $242,727.39. Following the sale, the insider now directly owns 13,077 shares in the company, valued at approximately $428,533.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.88% of the company’s stock.

Ryerson Stock Down 1.3 %

NYSE:RYI opened at $30.66 on Friday. The firm has a market capitalization of $1.04 billion, a PE ratio of 7.53 and a beta of 1.65. The stock has a 50 day moving average of $32.33 and a 200-day moving average of $31.67. Ryerson Holding Co. has a 52 week low of $26.15 and a 52 week high of $44.70. The company has a current ratio of 2.18, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47.

Ryerson (NYSE:RYI) last posted its earnings results on Wednesday, February 21st. The basic materials company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.24 by $0.49. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Ryerson had a return on equity of 16.33% and a net margin of 2.85%. During the same period in the prior year, the company earned ($0.65) earnings per share.

Ryerson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $0.188 per share. The ex-dividend date was Wednesday, March 6th. This is a positive change from Ryerson’s previous quarterly dividend of $0.18. This represents a $0.75 annualized dividend and a dividend yield of 2.45%. Ryerson’s dividend payout ratio is 18.43%.

Ryerson 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.