Dynamic Technology Lab Private Ltd Cuts Stake in Ryerson Holding Co. (NYSE:RYI)

Dynamic Technology Lab Private Ltd lessened its holdings in shares of Ryerson Holding Co. (NYSE:RYI) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,171 shares of the basic materials company’s stock after selling 4,548 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Ryerson were worth $630,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. William Blair Investment Management LLC bought a new stake in shares of Ryerson during the third quarter valued at approximately $23,522,000. Vanguard Group Inc. grew 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 acquiring an additional 496,913 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Ryerson by 2,203.8% during the third quarter. Assenagon Asset Management S.A. now owns 261,647 shares of the basic materials company’s stock valued at $7,611,000 after acquiring an additional 250,290 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ryerson by 106.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 382,092 shares of the basic materials company’s stock valued at $11,115,000 after acquiring an additional 196,872 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Ryerson by 47.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company’s stock worth $17,053,000 after purchasing an additional 189,517 shares in the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Alagu Sundarrajan sold 7,407 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 13,077 shares in the company, valued at $428,533.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Ryerson news, insider Alagu Sundarrajan sold 7,407 shares of the business’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 transaction of $242,727.39. Following the completion of the transaction, the insider now owns 13,077 shares in the company, valued at $428,533.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Burbach bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $23.75 per share, for a total transaction of $95,000.00. Following the purchase, the chief operating officer now owns 226,263 shares of the company’s stock, valued at approximately $5,373,746.25. The disclosure for this purchase can be found here. Corporate insiders own 3.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RYI shares. BMO Capital Markets cut their price objective on Ryerson from $33.00 to $28.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. StockNews.com downgraded Ryerson from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd.

Ryerson Price Performance

RYI stock opened at $24.50 on Friday. Ryerson Holding Co. has a 52 week low of $21.52 and a 52 week high of $44.70. The firm has a market capitalization of $841.33 million, a P/E ratio of 9.50 and a beta of 1.69. The company has a fifty day simple moving average of $29.20 and a two-hundred day simple moving average of $31.13. The company has a quick ratio of 0.94, a current ratio of 2.09 and a debt-to-equity ratio of 0.55.

Ryerson (NYSE:RYI) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.47). The business had revenue of $1.24 billion during the quarter. Ryerson had a net margin of 1.84% and a return on equity of 10.27%.

Ryerson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, June 6th. Ryerson’s dividend payout ratio (DPR) is 29.07%.

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.