Prudential Financial Inc. Cuts Stock Holdings in Ryerson Holding Co. (NYSE:RYI)

Prudential Financial Inc. reduced its position in shares of Ryerson Holding Co. (NYSE:RYI) by 25.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,584 shares of the basic materials company’s stock after selling 22,533 shares during the period. Prudential Financial Inc. owned 0.17% of Ryerson worth $957,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RYI. US Bancorp DE purchased a new stake in Ryerson during the 2nd quarter worth approximately $29,000. Advisory Services Network LLC purchased a new stake in shares of Ryerson in the second quarter valued at approximately $86,000. Amundi purchased a new stake in shares of Ryerson in the second quarter valued at approximately $86,000. Islay Capital Management LLC purchased a new stake in shares of Ryerson in the second quarter valued at approximately $91,000. Finally, Royal Bank of Canada grew its position in shares of Ryerson by 30.0% in the first quarter. Royal Bank of Canada now owns 6,815 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 1,571 shares in the last quarter. Institutional investors own 92.24% of the company’s stock.

Separately, Zacks Investment Research upgraded Ryerson from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research report on Tuesday, October 19th.

RYI stock opened at $27.14 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.90 and a quick ratio of 0.94. The business has a 50 day simple moving average of $24.64 and a 200-day simple moving average of $20.06. The firm has a market capitalization of $1.04 billion, a PE ratio of 6.17 and a beta of 1.66. Ryerson Holding Co. has a 1 year low of $10.63 and a 1 year high of $30.05.

Ryerson (NYSE:RYI) last released its quarterly earnings data on Tuesday, November 2nd. The basic materials company reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $1.50. Ryerson had a return on equity of 68.51% and a net margin of 3.43%. During the same period in the previous year, the firm earned $0.31 EPS. On average, equities research analysts expect that Ryerson Holding Co. will post 5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Monday, November 15th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Friday, November 12th. This is a boost from Ryerson’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 1.25%. Ryerson’s dividend payout ratio is currently 7.73%.

Ryerson Company Profile

Ryerson Holding Corp. engages in the processing and distribution of industrial metals. It processes and distributes products in stainless steel, aluminum carbon steel and alloy steels and a limited line of nickel and red metals in various shapes and forms. The firm serves end-markets including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery; and also offers value-added processing and fabrication services such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius.

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Institutional Ownership by Quarter for Ryerson (NYSE:RYI)

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