Ryerson Holding Co. (NYSE:RYI) Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its holdings in Ryerson Holding Co. (NYSE:RYI - Free Report) by 48.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,600 shares of the basic materials company's stock after acquiring an additional 18,748 shares during the quarter. Millennium Management LLC owned approximately 0.18% of Ryerson worth $1,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RYI. Franklin Resources Inc. lifted its position in Ryerson by 85.8% during the 4th quarter. Franklin Resources Inc. now owns 2,329,803 shares of the basic materials company's stock worth $43,125,000 after acquiring an additional 1,075,963 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in shares of Ryerson during the 4th quarter worth $6,255,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ryerson by 19.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,014,110 shares of the basic materials company's stock worth $18,771,000 after purchasing an additional 166,596 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Ryerson by 7.9% during the 4th 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 during the period. Finally, Jane Street Group LLC purchased a new position in shares of Ryerson in the 4th quarter valued at about $1,254,000. Hedge funds and other institutional investors own 94.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of Ryerson from a "buy" rating to a "hold" rating in a report on Friday, May 9th. BMO Capital Markets boosted their price target on Ryerson from $23.00 to $25.00 and gave the stock a "market perform" rating in a research note on Monday, February 24th.

Ryerson Price Performance

Shares of RYI stock traded up $0.52 during mid-day trading on Friday, reaching $21.95. The stock had a trading volume of 244,026 shares, compared to its average volume of 282,920. The company has a market cap of $706.64 million, a P/E ratio of -84.42 and a beta of 1.64. 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 Holding Co. has a 12-month low of $17.18 and a 12-month high of $27.41. The business has a 50-day simple moving average of $21.76 and a 200 day simple moving average of $22.16.

Ryerson (NYSE:RYI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, sell-side analysts anticipate that Ryerson Holding Co. will post 1.2 earnings per share for the current year.

Ryerson Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 3.42%. The ex-dividend date is Thursday, June 5th. Ryerson's payout ratio is -340.91%.

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.