Insider Buying: Ryerson Holding Co. (NYSE:RYI) COO Acquires 4,000 Shares of Stock

Ryerson Holding Co. (NYSE:RYI) COO Michael Burbach bought 4,000 shares of Ryerson stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $23.75 per share, for a total transaction of $95,000.00. Following the completion of the transaction, the chief operating officer now owns 226,263 shares of the company’s stock, valued at approximately $5,373,746.25. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ryerson Trading Down 1.9 %

NYSE:RYI traded down $0.45 during midday trading on Friday, hitting $22.84. The stock had a trading volume of 660,345 shares, compared to its average volume of 233,002. Ryerson Holding Co. has a one year low of $22.32 and a one year high of $44.70. The company has a market capitalization of $784.33 million, a price-to-earnings ratio of 8.85 and a beta of 1.69. The stock has a 50-day moving average of $31.54 and a 200 day moving average of $31.58. The company has a quick ratio of 0.95, a current ratio of 2.09 and a debt-to-equity ratio of 0.55.

Ryerson (NYSE:RYI) last announced its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.49. Ryerson had a return on equity of 10.27% and a net margin of 1.84%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned ($0.65) earnings per share.

Ryerson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.188 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.75 dividend on an annualized basis and a yield of 3.29%. Ryerson’s dividend payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets dropped their price objective on Ryerson from $33.00 to $28.00 and set a “market perform” rating on the stock in a research note on Thursday.

Institutional Trading of Ryerson

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in Ryerson by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,258,261 shares of the basic materials company’s stock worth $78,318,000 after buying an additional 79,139 shares during the period. Vanguard Group Inc. boosted its position in shares of Ryerson by 28.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,233,108 shares of the basic materials company’s stock worth $64,961,000 after purchasing an additional 496,913 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Ryerson by 15.0% in the 4th quarter. Franklin Resources Inc. now owns 1,262,776 shares of the basic materials company’s stock worth $43,793,000 after purchasing an additional 164,447 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Ryerson in the 3rd quarter worth $23,522,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Ryerson by 47.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company’s stock worth $17,053,000 after purchasing an additional 189,517 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

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.