Frontier Capital Management Co. LLC Takes Position in Ryerson Holding Co. (NYSE:RYI)

Frontier Capital Management Co. LLC purchased a new stake in shares of Ryerson Holding Co. (NYSE:RYI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 337,942 shares of the basic materials company’s stock, valued at approximately $6,255,000. Frontier Capital Management Co. LLC owned approximately 1.06% of Ryerson at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in Ryerson by 85.8% in the 4th quarter. Franklin Resources Inc. now owns 2,329,803 shares of the basic materials company’s stock worth $43,125,000 after buying an additional 1,075,963 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ryerson by 19.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,014,110 shares of the basic materials company’s stock worth $18,771,000 after acquiring an additional 166,596 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Ryerson by 7.9% during the fourth quarter. American Century Companies Inc. now owns 930,439 shares of the basic materials company’s stock worth $17,222,000 after acquiring an additional 68,022 shares in the last quarter. Jane Street Group LLC acquired a new stake in Ryerson during the fourth quarter valued at $1,254,000. Finally, Victory Capital Management Inc. grew its stake in Ryerson by 5.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,215,679 shares of the basic materials company’s stock valued at $22,502,000 after purchasing an additional 65,181 shares in the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Ryerson from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets raised their price objective on shares of Ryerson from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Monday, February 24th.

Insiders Place Their Bets

In other news, CEO Edward J. Lehner sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $24.79, for a total transaction of $247,900.00. Following the sale, the chief executive officer now directly owns 593,228 shares in the company, valued at approximately $14,706,122.12. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James J. Claussen sold 6,017 shares of Ryerson stock in a transaction on Monday, February 24th. The stock was sold at an average price of $25.30, for a total transaction of $152,230.10. Following the sale, the chief financial officer now owns 58,773 shares in the company, valued at $1,486,956.90. This represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.95% of the company’s stock.

Ryerson Trading Down 1.2 %

Ryerson stock opened at $20.82 on Friday. Ryerson Holding Co. has a one year low of $17.18 and a one year high of $27.41. The company’s fifty day moving average price is $22.55 and its two-hundred day moving average price is $22.42. The company has a market capitalization of $670.32 million, a price-to-earnings ratio of -80.08 and a beta of 1.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.22 and a quick ratio of 1.06.

Ryerson (NYSE:RYI) last posted its earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.05. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. On average, analysts forecast that Ryerson Holding Co. will post 1.2 earnings per share for the current fiscal year.

Ryerson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.75 annualized dividend and a yield of 3.60%. Ryerson’s dividend payout ratio (DPR) is presently -340.91%.

About 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.