Bank of America Corp DE Has $1.92 Million Stock Position in Ryerson Holding Co. (NYSE:RYI)

Bank of America Corp DE increased its stake in Ryerson Holding Co. (NYSE:RYI - Free Report) by 57.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,918 shares of the basic materials company's stock after purchasing an additional 37,903 shares during the period. Bank of America Corp DE owned approximately 0.33% of Ryerson worth $1,924,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in Ryerson in the fourth quarter valued at about $54,000. Tower Research Capital LLC TRC boosted its stake in Ryerson by 488.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company's stock valued at $68,000 after buying an additional 3,061 shares in the last quarter. US Bancorp DE boosted its stake in Ryerson by 150.8% in the fourth quarter. US Bancorp DE now owns 11,246 shares of the basic materials company's stock valued at $208,000 after buying an additional 6,762 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ryerson by 11.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,455 shares of the basic materials company's stock valued at $305,000 after buying an additional 1,734 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Ryerson by 19.5% in the fourth quarter. Wells Fargo & Company MN now owns 16,821 shares of the basic materials company's stock valued at $311,000 after buying an additional 2,749 shares in the last quarter. Institutional investors own 94.81% of the company's stock.

Ryerson Trading Up 2.4%

Shares of RYI stock traded up $0.52 during mid-day trading on Friday, reaching $21.95. 244,026 shares of the stock traded hands, compared to its average volume of 283,141. The stock's fifty day simple moving average is $21.75 and its two-hundred day simple moving average is $22.15. Ryerson Holding Co. has a 1-year low of $17.18 and a 1-year high of $27.41. The company has a market cap of $706.64 million, a price-to-earnings ratio of -84.42 and a beta of 1.55. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62.

Ryerson (NYSE:RYI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.05. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. On average, research analysts anticipate that Ryerson Holding Co. will post 1.2 EPS for the current fiscal year.

Ryerson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, June 5th. Ryerson's dividend payout ratio is currently -340.91%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RYI. BMO Capital Markets raised their price objective 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 lowered Ryerson from a "buy" rating to a "hold" rating in a research note on Friday, May 9th.

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.