Victory Capital Management Inc. Lowers Position in Ryerson Holding Corporation (NYSE:RYI)

Victory Capital Management Inc. trimmed its stake in shares of Ryerson Holding Corporation (NYSE:RYI - Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,125,675 shares of the basic materials company's stock after selling 90,004 shares during the quarter. Victory Capital Management Inc. owned 3.53% of Ryerson worth $25,845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in Ryerson in the 4th quarter worth about $339,000. Teacher Retirement System of Texas bought a new position in shares of Ryerson during the 4th quarter valued at about $329,000. American Century Companies Inc. increased its position 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 valued at $17,222,000 after purchasing an additional 68,022 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Ryerson during the 4th quarter valued at about $583,000. Finally, JPMorgan Chase & Co. increased its position in shares of Ryerson by 11.0% during the 4th quarter. JPMorgan Chase & Co. now owns 179,422 shares of the basic materials company's stock valued at $3,321,000 after purchasing an additional 17,771 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Ryerson Trading Up 1.0%

RYI stock traded up $0.22 during trading on Friday, hitting $22.65. 218,474 shares of the company traded hands, compared to its average volume of 251,134. The firm has a market capitalization of $729.33 million, a PE ratio of -102.95 and a beta of 1.54. Ryerson Holding Corporation has a 1 year low of $17.18 and a 1 year high of $27.41. The company has a 50-day moving average of $21.93 and a 200-day moving average of $22.19. 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 (NYSE:RYI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.16 billion. Ryerson had a negative return on equity of 0.65% and a negative net margin of 0.15%. Analysts predict that Ryerson Holding Corporation will post 1.2 earnings per share for the current fiscal year.

Ryerson Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, June 5th. Ryerson's dividend 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.