Allspring Global Investments Holdings LLC Trims Stock Holdings in Ryerson Holding Co. (NYSE:RYI)

Allspring Global Investments Holdings LLC reduced its position in shares of Ryerson Holding Co. (NYSE:RYI) by 44.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,897 shares of the basic materials company’s stock after selling 6,316 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ryerson were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RYI. SG Americas Securities LLC purchased a new position in shares of Ryerson during the 3rd quarter valued at $219,000. Exchange Traded Concepts LLC grew its position in shares of Ryerson by 30.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 12,677 shares of the basic materials company’s stock valued at $369,000 after purchasing an additional 2,996 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Ryerson by 47.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 15,123 shares of the basic materials company’s stock valued at $440,000 after purchasing an additional 4,843 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Ryerson by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 342,029 shares of the basic materials company’s stock valued at $9,950,000 after purchasing an additional 11,957 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Ryerson by 23.4% during the 3rd quarter. Strs Ohio now owns 21,100 shares of the basic materials company’s stock worth $613,000 after acquiring an additional 4,000 shares during the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Ryerson Stock Performance

NYSE RYI opened at $30.66 on Friday. Ryerson Holding Co. has a 52-week low of $26.15 and a 52-week high of $44.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 2.18. The company has a market capitalization of $1.04 billion, a P/E ratio of 7.53 and a beta of 1.65. The company has a fifty day moving average of $32.33 and a 200-day moving average of $31.68.

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

Ryerson Increases Dividend

The business also recently disclosed 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. This is an increase from Ryerson’s previous quarterly dividend of $0.18. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Wednesday, March 6th. Ryerson’s payout ratio is currently 18.43%.

Insiders Place Their Bets

In other Ryerson news, insider Alagu Sundarrajan sold 7,407 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were 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 of the company’s stock, valued at $428,533.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.88% of the stock is currently owned by insiders.

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.