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

Readystate Asset Management LP bought a new position in Ryerson Holding Corporation (NYSE:RYI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,570 shares of the basic materials company's stock, valued at approximately $403,000. Readystate Asset Management LP owned approximately 0.06% of Ryerson as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RYI. Proficio Capital Partners LLC purchased a new position in shares of Ryerson in the fourth quarter worth about $339,000. Teacher Retirement System of Texas purchased a new position in shares of Ryerson in the fourth quarter worth about $329,000. American Century Companies Inc. increased its stake in shares of Ryerson by 7.9% in the fourth quarter. American Century Companies Inc. now owns 930,439 shares of the basic materials company's stock worth $17,222,000 after purchasing an additional 68,022 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Ryerson in the fourth quarter worth about $583,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Ryerson by 11.0% in the fourth quarter. JPMorgan Chase & Co. now owns 179,422 shares of the basic materials company's stock worth $3,321,000 after purchasing an additional 17,771 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company's stock.

Wall Street Analysts Forecast Growth

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

Ryerson Trading Up 1.0%

Shares of NYSE RYI traded up $0.22 during mid-day trading on Friday, hitting $22.65. The stock had a trading volume of 218,474 shares, compared to its average volume of 251,134. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.00. Ryerson Holding Corporation has a 1 year low of $17.18 and a 1 year high of $27.41. The firm has a market cap of $729.33 million, a P/E ratio of -102.95 and a beta of 1.54. The business has a 50 day moving average price of $21.93 and a two-hundred day moving average price of $22.22.

Ryerson (NYSE:RYI - Get Free Report) last announced its quarterly 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.16 billion. Ryerson had a negative net margin of 0.15% and a negative return on equity of 0.65%. On average, equities analysts anticipate that Ryerson Holding Corporation will post 1.2 EPS for the current fiscal year.

Ryerson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders 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 dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, June 5th. Ryerson's payout ratio is presently -340.91%.

Ryerson Company 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.