GAMMA Investing LLC Acquires 26,655 Shares of Ryerson Holding Corporation (NYSE:RYI)

GAMMA Investing LLC raised its position in Ryerson Holding Corporation (NYSE:RYI - Free Report) by 2,147.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,896 shares of the basic materials company's stock after purchasing an additional 26,655 shares during the quarter. GAMMA Investing LLC owned 0.09% of Ryerson worth $640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYI. Tower Research Capital LLC TRC raised its stake in shares of Ryerson by 488.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company's stock valued at $68,000 after purchasing an additional 3,061 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Ryerson in the 4th quarter valued at about $196,000. US Bancorp DE raised its stake in shares of Ryerson by 150.8% in the 4th quarter. US Bancorp DE now owns 11,246 shares of the basic materials company's stock valued at $208,000 after purchasing an additional 6,762 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Ryerson by 11.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,455 shares of the basic materials company's stock valued at $305,000 after purchasing an additional 1,734 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Ryerson by 19.5% in the 4th quarter. Wells Fargo & Company MN now owns 16,821 shares of the basic materials company's stock valued at $311,000 after purchasing an additional 2,749 shares during the period. Institutional investors and hedge funds own 94.81% of the company's stock.

Ryerson Stock Down 6.4%

Shares of NYSE:RYI traded down $1.32 during midday trading on Friday, reaching $19.24. The company had a trading volume of 619,237 shares, compared to its average volume of 277,363. The company has a quick ratio of 0.99, a current ratio of 2.00 and a debt-to-equity ratio of 0.61. The business's 50 day moving average price is $21.56 and its 200 day moving average price is $21.81. The stock has a market cap of $619.43 million, a PE ratio of -87.44 and a beta of 1.56. Ryerson Holding Corporation has a 1-year low of $17.18 and a 1-year high of $27.41.

Ryerson (NYSE:RYI - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.05. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.16 billion. Ryerson had a negative return on equity of 0.65% and a negative net margin of 0.15%. Research analysts forecast that Ryerson Holding Corporation will post 1.2 EPS for the current fiscal year.

Ryerson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Thursday, June 5th. Ryerson's payout ratio is currently -340.91%.

Wall Street Analyst Weigh In

Several analysts have issued reports on RYI shares. BMO Capital Markets lifted their price target on Ryerson from $23.00 to $25.00 and gave the company a "market perform" rating in a research note on Monday, February 24th. Wall Street Zen downgraded Ryerson from a "buy" rating to a "hold" rating in a research report on Friday, May 9th.

About Ryerson

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.