Van ECK Associates Corp Reduces Holdings in Ryerson Holding Co. (NYSE:RYI)

Van ECK Associates Corp lowered its stake in Ryerson Holding Co. (NYSE:RYI) by 15.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,763 shares of the basic materials company’s stock after selling 5,598 shares during the quarter. Van ECK Associates Corp owned approximately 0.10% of Ryerson worth $664,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Ryerson in the second quarter valued at $39,000. Copeland Capital Management LLC purchased a new position in Ryerson in the 3rd quarter valued at about $56,000. SG Americas Securities LLC acquired a new stake in shares of Ryerson during the 1st quarter worth about $139,000. Point72 DIFC Ltd grew its holdings in shares of Ryerson by 16.7% during the second quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock worth $114,000 after buying an additional 837 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Ryerson by 2,177.4% in the first quarter. Comerica Bank now owns 6,855 shares of the basic materials company’s stock valued at $230,000 after buying an additional 6,554 shares during the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Ryerson Stock Performance

Shares of RYI opened at $25.04 on Wednesday. The company has a market capitalization of $797.52 million, a price-to-earnings ratio of 42.64 and a beta of 1.54. 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 Holding Co. has a 1 year low of $17.57 and a 1 year high of $36.20. The company’s 50 day simple moving average is $20.69 and its 200 day simple moving average is $21.36.

Ryerson (NYSE:RYI) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.26). Ryerson had a return on equity of 2.66% and a net margin of 0.46%. The business had revenue of $1.13 billion for the quarter. During the same quarter last year, the business earned $1.00 EPS.

Ryerson Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.75 annualized dividend and a dividend yield of 3.00%. Ryerson’s payout ratio is currently 122.95%.

Ryerson 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.