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Sep 13, 2023

Ryerson Holding Co. (NYSE:RYI) Stake Raised by Cambria Investment Management L.P.

Cambria Investment Management L.P. raised its stake in Ryerson Holding Co. (NYSE:RYI - Free Report) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with

Cambria Investment Management L.P. raised its stake in Ryerson Holding Co. (NYSE:RYI - Free Report) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 366,582 shares of the basic materials company's stock after acquiring an additional 16,425 shares during the period. Ryerson makes up 1.1% of Cambria Investment Management L.P.'s portfolio, making the stock its 10th biggest position. Cambria Investment Management L.P. owned approximately 1.02% of Ryerson worth $13,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of RYI. Bank of New York Mellon Corp boosted its position in shares of Ryerson by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 218,544 shares of the basic materials company's stock valued at $7,654,000 after buying an additional 1,035 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Ryerson by 3.5% during the first quarter. American Century Companies Inc. now owns 39,551 shares of the basic materials company's stock valued at $1,385,000 after buying an additional 1,341 shares during the last quarter. US Bancorp DE boosted its position in shares of Ryerson by 59.0% during the first quarter. US Bancorp DE now owns 3,640 shares of the basic materials company's stock valued at $127,000 after buying an additional 1,351 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Ryerson by 0.7% during the first quarter. Bank of Montreal Can now owns 72,723 shares of the basic materials company's stock valued at $2,658,000 after buying an additional 501 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Ryerson by 57.0% during the first quarter. MetLife Investment Management LLC now owns 9,181 shares of the basic materials company's stock valued at $322,000 after buying an additional 3,333 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

RYI stock traded up $0.11 during trading on Tuesday, reaching $30.20. The stock had a trading volume of 58,610 shares, compared to its average volume of 343,808. Ryerson Holding Co. has a 52 week low of $23.63 and a 52 week high of $44.70. The stock's 50 day moving average is $38.17 and its two-hundred day moving average is $37.31. The company has a current ratio of 2.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1.04 billion, a PE ratio of 9.58 and a beta of 1.76.

Ryerson (NYSE:RYI - Get Free Report) last posted its earnings results on Monday, July 31st. The basic materials company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.27). Ryerson had a net margin of 2.08% and a return on equity of 13.20%. The firm had revenue of $1.34 billion during the quarter. As a group, equities analysts anticipate that Ryerson Holding Co. will post 3.3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be paid a $0.1825 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.73 annualized dividend and a dividend yield of 2.42%. This is an increase from Ryerson's previous quarterly dividend of $0.18. Ryerson's dividend payout ratio (DPR) is 22.93%.

In related news, Director Stephen P. Larson acquired 5,000 shares of the firm's stock in a transaction dated Thursday, August 10th. The shares were purchased at an average price of $29.55 per share, with a total value of $147,750.00. Following the completion of the purchase, the director now directly owns 80,000 shares of the company's stock, valued at $2,364,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.56% of the company's stock.

Several equities research analysts recently commented on RYI shares. StockNews.com started coverage on Ryerson in a research report on Thursday, August 17th. They set a "hold" rating on the stock. BMO Capital Markets lowered their target price on Ryerson from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Wednesday, August 2nd.

Get Our Latest Stock Report on Ryerson

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.

Want to see what other hedge funds are holding RYI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ryerson Holding Co. (NYSE:RYI - Free Report).

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