Summit Global Investments Has $1.16 Million Stake in Ryerson Holding Co. (NYSE:RYI)

Summit Global Investments lifted its position in Ryerson Holding Co. (NYSE:RYI) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,320 shares of the basic materials company’s stock after acquiring an additional 4,573 shares during the period. Summit Global Investments’ holdings in Ryerson were worth $1,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SummerHaven Investment Management LLC grew its holdings in shares of Ryerson by 2.1% in the 4th quarter. SummerHaven Investment Management LLC now owns 16,667 shares of the basic materials company’s stock valued at $578,000 after buying an additional 336 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Ryerson by 7.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 6,882 shares of the basic materials company’s stock valued at $200,000 after acquiring an additional 480 shares during the period. Strs Ohio increased its holdings in shares of Ryerson by 2.8% in the fourth quarter. Strs Ohio now owns 21,700 shares of the basic materials company’s stock worth $752,000 after acquiring an additional 600 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Ryerson by 46.5% during the fourth quarter. New York State Teachers Retirement System now owns 2,518 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 799 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Ryerson during the 3rd quarter valued at about $27,000. Institutional investors own 94.81% of the company’s stock.

Insider Buying and Selling at Ryerson

In related news, insider Alagu Sundarrajan sold 7,407 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $32.77, for a total transaction of $242,727.39. Following the sale, the insider now owns 13,077 shares in the company, valued at $428,533.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Michael Burbach acquired 4,000 shares of the 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 purchase, the chief operating officer now directly owns 226,263 shares of the company’s stock, valued at $5,373,746.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alagu Sundarrajan sold 7,407 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $32.77, for a total transaction of $242,727.39. Following the completion of the sale, the insider now directly owns 13,077 shares in the company, valued at $428,533.29. The disclosure for this sale can be found here. Company insiders own 3.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets dropped their target price on shares of Ryerson from $33.00 to $28.00 and set a “market perform” rating on the stock in a report on Thursday. StockNews.com lowered shares of Ryerson from a “buy” rating to a “hold” rating in a report on Friday.

Ryerson Stock Down 1.9 %

Shares of Ryerson stock traded down $0.45 during trading on Friday, reaching $22.84. The stock had a trading volume of 670,714 shares, compared to its average volume of 262,101. The company has a current ratio of 2.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $784.33 million, a price-to-earnings ratio of 8.85 and a beta of 1.69. Ryerson Holding Co. has a 52 week low of $22.32 and a 52 week high of $44.70. The stock has a fifty day moving average price of $31.54 and a two-hundred day moving average price of $31.58.

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

Ryerson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, June 6th. Ryerson’s dividend payout ratio (DPR) is currently 29.07%.

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.