Geode Capital Management LLC Sells 30,709 Shares of Ryerson Holding Co. (NYSE:RYI)

Geode Capital Management LLC cut its stake in Ryerson Holding Co. (NYSE:RYI - Free Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 615,003 shares of the basic materials company's stock after selling 30,709 shares during the quarter. Geode Capital Management LLC owned approximately 1.93% of Ryerson worth $11,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Barclays PLC increased its stake in shares of Ryerson by 167.0% in the third quarter. Barclays PLC now owns 55,330 shares of the basic materials company's stock worth $1,101,000 after acquiring an additional 34,604 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Ryerson in the fourth quarter worth $339,000. Victory Capital Management Inc. increased its position in Ryerson by 5.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,215,679 shares of the basic materials company's stock worth $22,502,000 after buying an additional 65,181 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Ryerson during the fourth quarter worth $329,000. Finally, Charles Schwab Investment Management Inc. increased its position in Ryerson by 19.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,014,110 shares of the basic materials company's stock worth $18,771,000 after buying an additional 166,596 shares during the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ryerson news, CFO James J. Claussen sold 6,017 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $25.30, for a total transaction of $152,230.10. Following the completion of the transaction, the chief financial officer now owns 58,773 shares in the company, valued at $1,486,956.90. This trade represents a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward J. Lehner sold 10,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $24.79, for a total transaction of $247,900.00. Following the transaction, the chief executive officer now owns 593,228 shares of the company's stock, valued at approximately $14,706,122.12. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.95% of the company's stock.

Ryerson Stock Performance

Shares of NYSE:RYI traded down $0.42 during midday trading on Monday, hitting $22.89. The company's stock had a trading volume of 157,315 shares, compared to its average volume of 312,130. The stock has a market capitalization of $729.07 million, a price-to-earnings ratio of -88.04 and a beta of 1.35. The stock's 50 day simple moving average is $23.15 and its 200 day simple moving average is $22.45. Ryerson Holding Co. has a fifty-two week low of $17.18 and a fifty-two week high of $31.17. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22.

Ryerson (NYSE:RYI - Get Free Report) last released its earnings results on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.34. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1 billion. As a group, research analysts anticipate that Ryerson Holding Co. will post 1.2 earnings per share for the current year.

Ryerson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, March 6th. Ryerson's dividend payout ratio is -288.46%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets increased their target price on shares of Ryerson from $23.00 to $25.00 and gave the stock a "market perform" rating in a research report on Monday, February 24th.

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.