Readystate Asset Management LP Makes New $403,000 Investment in Ryerson Holding Corporation (NYSE:RYI)

Readystate Asset Management LP purchased a new stake in Ryerson Holding Corporation (NYSE:RYI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,570 shares of the basic materials company's stock, valued at approximately $403,000. Readystate Asset Management LP owned about 0.06% of Ryerson as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Ryerson during the 4th quarter worth $339,000. Teacher Retirement System of Texas acquired a new stake in Ryerson during the 4th quarter worth about $329,000. American Century Companies Inc. grew its stake in shares of Ryerson by 7.9% in the 4th quarter. American Century Companies Inc. now owns 930,439 shares of the basic materials company's stock valued at $17,222,000 after buying an additional 68,022 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Ryerson in the 4th quarter valued at about $583,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Ryerson by 11.0% in the 4th quarter. JPMorgan Chase & Co. now owns 179,422 shares of the basic materials company's stock valued at $3,321,000 after buying an additional 17,771 shares during the period. 94.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Ryerson from a "buy" rating to a "hold" rating in a research note on Friday, May 9th.

Ryerson Stock Performance

Shares of NYSE:RYI traded down $2.13 during mid-day trading on Thursday, reaching $22.42. The company had a trading volume of 272,524 shares, compared to its average volume of 255,423. The company has a current ratio of 2.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The firm has a market cap of $721.83 million, a price-to-earnings ratio of -101.90 and a beta of 1.54. The company's 50-day moving average price is $21.91 and its 200-day moving average price is $22.16. Ryerson Holding Corporation has a one year low of $17.18 and a one year high of $27.41.

Ryerson (NYSE:RYI - Get Free Report) last issued 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. Ryerson had a negative net margin of 0.15% and a negative return on equity of 0.65%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.16 billion. As a group, equities research analysts anticipate 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. Shareholders of record on Thursday, June 5th were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, June 5th. Ryerson's dividend payout ratio is presently -340.91%.

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.