Victory Capital Management Inc. Increases Stock Position in Ryerson Holding Co. (NYSE:RYI)

Victory Capital Management Inc. grew its stake in shares of Ryerson Holding Co. (NYSE:RYI) by 164.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,150,498 shares of the basic materials company’s stock after acquiring an additional 715,990 shares during the quarter. Victory Capital Management Inc. owned about 3.61% of Ryerson worth $22,906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in shares of Ryerson in the third quarter worth approximately $272,000. Nisa Investment Advisors LLC boosted its holdings in shares of Ryerson by 3,103.6% in the third quarter. Nisa Investment Advisors LLC now owns 12,430 shares of the basic materials company’s stock worth $247,000 after buying an additional 12,042 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Ryerson in the third quarter worth approximately $202,000. Grace & White Inc. NY purchased a new position in shares of Ryerson in the third quarter worth approximately $1,185,000. Finally, Copeland Capital Management LLC purchased a new position in shares of Ryerson in the third quarter worth approximately $56,000. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Price Performance

NYSE RYI opened at $24.77 on Tuesday. Ryerson Holding Co. has a 12 month low of $17.57 and a 12 month high of $36.20. The stock has a market cap of $788.85 million, a price-to-earnings ratio of 40.61 and a beta of 1.54. The company’s 50 day moving average is $21.21 and its two-hundred day moving average is $21.25. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Ryerson (NYSE:RYI) last released its earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Ryerson had a return on equity of 2.66% and a net margin of 0.46%. The firm had revenue of $1.13 billion for the quarter. During the same quarter last year, the firm posted $1.00 EPS.

Ryerson Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, December 5th. Ryerson’s payout ratio is 122.95%.

Insiders Place Their Bets

In other Ryerson news, EVP Mark S. Silver sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $24.56, for a total transaction of $221,040.00. Following the sale, the executive vice president now owns 107,664 shares in the company, valued at approximately $2,644,227.84. This trade represents a 7.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.88% of the stock is owned by company insiders.

Ryerson Profile

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.