KLP Kapitalforvaltning AS Buys New Holdings in Ryerson Holding Co. (NYSE:RYI)

KLP Kapitalforvaltning AS purchased a new position in Ryerson Holding Co. (NYSE:RYI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,500 shares of the basic materials company’s stock, valued at approximately $583,000. KLP Kapitalforvaltning AS owned 0.10% of Ryerson at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Intech Investment Management LLC purchased a new position in shares of Ryerson in the third quarter worth $207,000. Charles Schwab Investment Management Inc. increased its holdings in Ryerson by 31.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company’s stock valued at $16,874,000 after acquiring an additional 203,314 shares during the last quarter. FMR LLC lifted its stake in Ryerson by 159.7% in the 3rd quarter. FMR LLC now owns 7,649 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 4,704 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Ryerson by 31.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 36,676 shares of the basic materials company’s stock valued at $730,000 after purchasing an additional 8,688 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ryerson by 10.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,808 shares of the basic materials company’s stock valued at $1,211,000 after buying an additional 5,773 shares during the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lifted their price objective on shares of Ryerson from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, February 24th.

Ryerson Price Performance

NYSE:RYI opened at $23.27 on Thursday. The firm has a market capitalization of $741.17 million, a price-to-earnings ratio of -89.50 and a beta of 1.35. 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 business has a 50 day simple moving average of $23.24 and a 200-day simple moving average of $22.14. Ryerson Holding Co. has a 1 year low of $17.18 and a 1 year high of $34.65.

Ryerson (NYSE:RYI) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.34. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Ryerson had a negative return on equity of 0.70% and a negative net margin of 0.19%. Equities analysts forecast that Ryerson Holding Co. will post 1.2 EPS for the current year.

Ryerson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.22%. Ryerson’s dividend payout ratio is presently -288.46%.

Insider Activity at Ryerson

In related news, CFO James J. Claussen sold 6,017 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $25.30, for a total transaction of $152,230.10. Following the completion of the transaction, the chief financial officer now owns 58,773 shares in the company, valued at $1,486,956.90. The trade was a 9.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward J. Lehner sold 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $24.79, for a total value of $247,900.00. Following the completion of the sale, the chief executive officer now owns 593,228 shares in the company, valued at approximately $14,706,122.12. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. 3.95% of the stock is currently owned by insiders.

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.