Towle & Co. Lowers Stake in Ryerson Holding Corporation (RYI)
Towle & Co. reduced its stake in Ryerson Holding Corporation (NYSE:RYI) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,049,673 shares of the basic materials company’s stock after selling 37,271 shares during the quarter. Ryerson Holding Corporation makes up 2.4% of Towle & Co.’s investment portfolio, making the stock its 23rd largest holding. Towle & Co. owned 5.52% of Ryerson Holding Corporation worth $22,239,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RYI. First Trust Advisors LP purchased a new stake in shares of Ryerson Holding Corporation during the 3rd quarter valued at $134,000. Trellus Management Company LLC bought a new position in shares of Ryerson Holding Corporation during the 2nd quarter worth $138,000. Ameriprise Financial Inc. bought a new position in shares of Ryerson Holding Corporation during the 2nd quarter worth $138,000. HighTower Advisors LLC bought a new position in shares of Ryerson Holding Corporation during the 1st quarter worth $192,000. Finally, Rhumbline Advisers grew its stake in shares of Ryerson Holding Corporation by 26.0% during the 2nd quarter. Rhumbline Advisers now owns 18,139 shares of the basic materials company’s stock worth $180,000 after acquiring an additional 3,740 shares during the period. 40.85% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on RYI. TheStreet upgraded Ryerson Holding Corporation from a “d” rating to a “c” rating in a research note on Monday, August 7th. BidaskClub downgraded Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Ryerson Holding Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 11th. BMO Capital Markets restated a “hold” rating and issued a $13.00 target price on shares of Ryerson Holding Corporation in a research note on Friday, October 20th. Finally, KeyCorp restated a “buy” rating and issued a $13.50 target price on shares of Ryerson Holding Corporation in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.56.
Shares of Ryerson Holding Corporation (NYSE RYI) traded up $0.05 during mid-day trading on Friday, hitting $8.90. The stock had a trading volume of 305,300 shares, compared to its average volume of 270,537. The company has a market cap of $331.16, a price-to-earnings ratio of 31.79 and a beta of 2.08. Ryerson Holding Corporation has a 12-month low of $7.65 and a 12-month high of $16.85. The company has a current ratio of 2.49, a quick ratio of 1.18 and a debt-to-equity ratio of -70.93.
Ryerson Holding Corporation (NYSE:RYI) last released its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Ryerson Holding Corporation had a negative return on equity of 33.95% and a net margin of 0.26%. The company had revenue of $864.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same period in the previous year, the company posted $0.28 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. research analysts forecast that Ryerson Holding Corporation will post 0.63 EPS for the current fiscal year.
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Ryerson Holding Corporation Profile
Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various 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 and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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