Principal Financial Group Inc. Raises Stock Position in Ryerson Holding Co. (NYSE:RYI)

Principal Financial Group Inc. increased its position in Ryerson Holding Co. (NYSE:RYI) by 7.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,623 shares of the basic materials company’s stock after acquiring an additional 1,003 shares during the period. Principal Financial Group Inc.’s holdings in Ryerson were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RYI. Los Angeles Capital Management LLC boosted its stake in Ryerson by 5.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 7,491 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 355 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Ryerson by 3.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,590 shares of the basic materials company’s stock worth $343,000 after acquiring an additional 636 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Ryerson by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,553 shares of the basic materials company’s stock valued at $455,000 after buying an additional 977 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Ryerson by 15.6% in the fourth quarter. Truist Financial Corp now owns 10,597 shares of the basic materials company’s stock worth $368,000 after purchasing an additional 1,433 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Ryerson by 3.7% during the first quarter. BNP Paribas Financial Markets now owns 46,135 shares of the basic materials company’s stock worth $1,546,000 after acquiring an additional 1,647 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Price Performance

RYI opened at $18.94 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $628.81 million, a price-to-earnings ratio of 7.34 and a beta of 1.56. The business’s fifty day simple moving average is $20.42 and its 200-day simple moving average is $24.58. Ryerson Holding Co. has a 12-month low of $17.57 and a 12-month high of $36.20.

Ryerson (NYSE:RYI) last announced its earnings results on Tuesday, July 30th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. The business had revenue of $1.23 billion during the quarter. Ryerson had a net margin of 1.31% and a return on equity of 7.27%. During the same quarter in the prior year, the firm posted $1.06 earnings per share.

Ryerson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a $0.188 dividend. This represents a $0.75 annualized dividend and a yield of 3.97%. The ex-dividend date is Thursday, September 5th. Ryerson’s dividend payout ratio is presently 29.07%.

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.