IndexIQ Advisors LLC grew its stake in shares of Ryerson Holding Corporation (NYSE:RYI) by 83.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,790 shares of the basic materials company’s stock after acquiring an additional 31,218 shares during the quarter. IndexIQ Advisors LLC owned about 0.19% of Ryerson Holding Corporation worth $746,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RYI. Bank of New York Mellon Corp boosted its position in Ryerson Holding Corporation by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 74,245 shares of the basic materials company’s stock valued at $936,000 after buying an additional 2,404 shares during the last quarter. California Public Employees Retirement System purchased a new stake in Ryerson Holding Corporation in the first quarter valued at approximately $275,000. Vanguard Group Inc. boosted its position in Ryerson Holding Corporation by 1.7% in the first quarter. Vanguard Group Inc. now owns 912,378 shares of the basic materials company’s stock valued at $11,496,000 after buying an additional 15,628 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ryerson Holding Corporation by 10.5% in the first quarter. Dimensional Fund Advisors LP now owns 547,671 shares of the basic materials company’s stock valued at $6,900,000 after buying an additional 52,109 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Ryerson Holding Corporation by 8.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 143,944 shares of the basic materials company’s stock valued at $1,814,000 after buying an additional 10,979 shares during the last quarter. Hedge funds and other institutional investors own 40.28% of the company’s stock.
A number of equities research analysts recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $9.75 target price on shares of Ryerson Holding Corporation in a research report on Friday. BMO Capital Markets lowered their price objective on Ryerson Holding Corporation to $10.00 and set a “market perform” rating on the stock in a research report on Monday. KeyCorp restated a “buy” rating and issued a $13.50 price objective on shares of Ryerson Holding Corporation in a research report on Tuesday, September 19th. Zacks Investment Research upgraded Ryerson Holding Corporation from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, BidaskClub lowered Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $12.81.
Shares of Ryerson Holding Corporation (NYSE RYI) opened at $8.75 on Tuesday. The company has a debt-to-equity ratio of -70.93, a current ratio of 2.49 and a quick ratio of 1.08. Ryerson Holding Corporation has a 52-week low of $7.65 and a 52-week high of $16.85. The company has a market capitalization of $331.16, a P/E ratio of 31.79 and a beta of 2.08.
Ryerson Holding Corporation (NYSE:RYI) last released its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. Ryerson Holding Corporation had a negative return on equity of 33.95% and a net margin of 0.26%. The business had revenue of $864.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. sell-side analysts forecast that Ryerson Holding Corporation will post 0.63 earnings per share for the current year.
About Ryerson Holding Corporation
Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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