The Manufacturers Life Insurance Company Sells 4,610 Shares of Ryerson Holding Co. (NYSE:RYI)

The Manufacturers Life Insurance Company trimmed its holdings in Ryerson Holding Co. (NYSE:RYI) by 29.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,016 shares of the basic materials company’s stock after selling 4,610 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Ryerson were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Ryerson by 164.8% during the third quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company’s stock valued at $22,906,000 after purchasing an additional 715,990 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Ryerson by 31.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company’s stock worth $16,874,000 after buying an additional 203,314 shares during the period. American Century Companies Inc. boosted its holdings in Ryerson by 14.2% in the second quarter. American Century Companies Inc. now owns 783,631 shares of the basic materials company’s stock worth $15,281,000 after acquiring an additional 97,556 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Ryerson by 34.1% in the second quarter. Renaissance Technologies LLC now owns 278,600 shares of the basic materials company’s stock worth $5,433,000 after acquiring an additional 70,901 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Ryerson in the second quarter valued at approximately $5,372,000. Institutional investors own 94.81% of the company’s stock.

Insider Buying and Selling

In other Ryerson news, EVP Mark S. Silver sold 9,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $24.56, for a total value of $221,040.00. Following the completion of the transaction, the executive vice president now owns 107,664 shares in the company, valued at $2,644,227.84. This represents a 7.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is owned by corporate insiders.

Ryerson Trading Down 1.4 %

NYSE:RYI opened at $21.94 on Tuesday. Ryerson Holding Co. has a one year low of $17.57 and a one year high of $36.20. The company has a market cap of $698.72 million, a PE ratio of 35.97 and a beta of 1.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.22 and a quick ratio of 1.06. The firm has a 50-day moving average of $23.38 and a 200-day moving average of $21.43.

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

Ryerson Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Thursday, December 5th. Ryerson’s payout ratio is currently 122.95%.

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.