CenterBook Partners LP Makes New Investment in Ryerson Holding Corporation $RYI

CenterBook Partners LP acquired a new stake in Ryerson Holding Corporation (NYSE:RYI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 154,052 shares of the basic materials company’s stock, valued at approximately $3,522,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new position in shares of Ryerson during the 3rd quarter worth approximately $30,000. CWM LLC boosted its position in Ryerson by 97.7% during the second quarter. CWM LLC now owns 1,866 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 922 shares during the period. New York State Teachers Retirement System acquired a new position in shares of Ryerson in the third quarter valued at $56,000. AlphaQuest LLC lifted its stake in shares of Ryerson by 259,800.0% during the 3rd quarter. AlphaQuest LLC now owns 2,599 shares of the basic materials company’s stock worth $59,000 after buying an additional 2,598 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Ryerson by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,936 shares of the basic materials company’s stock worth $85,000 after buying an additional 2,405 shares during the period. 94.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ryerson news, CFO James J. Claussen sold 4,972 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.00, for a total transaction of $149,160.00. Following the sale, the chief financial officer directly owned 74,284 shares in the company, valued at $2,228,520. This represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward J. Lehner sold 59,001 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $30.06, for a total transaction of $1,773,570.06. Following the completion of the transaction, the chief executive officer directly owned 593,228 shares in the company, valued at approximately $17,832,433.68. This represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 64,973 shares of company stock valued at $1,952,740. Corporate insiders own 3.95% of the company’s stock.

Analyst Upgrades and Downgrades

RYI has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ryerson in a report on Monday, December 29th. Zacks Research upgraded Ryerson to a “hold” rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ryerson has a consensus rating of “Reduce” and an average target price of $25.00.

Ryerson Stock Down 6.3%

Shares of RYI opened at $23.63 on Thursday. The company has a current ratio of 1.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Ryerson Holding Corporation has a 12 month low of $19.02 and a 12 month high of $30.90. The firm’s 50 day moving average is $27.34 and its 200-day moving average is $24.08. The stock has a market capitalization of $761.06 million, a PE ratio of -33.28 and a beta of 1.58.

Ryerson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.75 annualized dividend and a yield of 3.2%. Ryerson’s payout ratio is currently -105.63%.

Ryerson Profile

Ryerson, Inc is a North American metals distributor and processor serving a broad range of industrial and manufacturing end markets. Headquartered in Chicago, Illinois, the company supplies carbon steels, stainless alloys, aluminum, brass and copper products to customers across the United States, Canada and Mexico. Through its extensive branch network, Ryerson provides just-in-time delivery and comprehensive inventory management solutions to support complex production schedules and tight lead-time requirements.

In addition to raw material distribution, Ryerson offers a suite of value-added processing services, including laser and plasma cutting, plate burning, sawing, shearing, forming, drilling and welding.