Bridgeway Capital Management Inc. decreased its position in shares of Ryerson Holding Corp (NYSE:RYI) by 62.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,000 shares of the basic materials company’s stock after selling 117,300 shares during the quarter. Bridgeway Capital Management Inc.’s holdings in Ryerson were worth $791,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RYI. Martingale Asset Management L P bought a new position in Ryerson during the 2nd quarter worth $151,000. O Shaughnessy Asset Management LLC raised its position in Ryerson by 59.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 20,986 shares of the basic materials company’s stock worth $237,000 after purchasing an additional 7,850 shares during the last quarter. Engineers Gate Manager LP bought a new position in Ryerson during the 2nd quarter worth $271,000. Calamos Advisors LLC bought a new position in Ryerson during the 3rd quarter worth $322,000. Finally, Mackay Shields LLC bought a new position in Ryerson during the 2nd quarter worth $386,000. 36.83% of the stock is currently owned by institutional investors.
In other Ryerson news, CEO Edward J. Lehner acquired 4,125 shares of the stock in a transaction dated Tuesday, November 20th. The stock was purchased at an average cost of $8.10 per share, with a total value of $33,412.50. Following the transaction, the chief executive officer now owns 215,439 shares in the company, valued at approximately $1,745,055.90. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 13,625 shares of company stock valued at $113,158. Corporate insiders own 1.10% of the company’s stock.
RYI stock opened at $7.61 on Friday. Ryerson Holding Corp has a 1-year low of $7.12 and a 1-year high of $12.95. The company has a debt-to-equity ratio of 12.03, a current ratio of 2.45 and a quick ratio of 1.06. The stock has a market capitalization of $285.70 million, a PE ratio of 20.51 and a beta of 1.89.
Ryerson (NYSE:RYI) last posted its quarterly earnings data on Friday, November 2nd. The basic materials company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.07). Ryerson had a return on equity of 101.73% and a net margin of 2.60%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue was up 44.6% on a year-over-year basis. Analysts expect that Ryerson Holding Corp will post 1.24 earnings per share for the current year.
Several research firms have recently weighed in on RYI. Zacks Investment Research lowered Ryerson from a “hold” rating to a “strong sell” rating in a research report on Wednesday. ValuEngine raised Ryerson from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 31st. Finally, Deutsche Bank raised Ryerson from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, November 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. Ryerson currently has a consensus rating of “Hold” and an average price target of $11.42.
Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural products, and tubing.
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