Ryerson Holding Co. (NYSE:RYI) Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Ryerson Holding Co. (NYSE:RYI) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,444 shares of the basic materials company’s stock after purchasing an additional 14,631 shares during the period. Geode Capital Management LLC owned approximately 0.68% of Ryerson worth $4,437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of Ryerson in the first quarter valued at $35,000. Dorsey Wright & Associates acquired a new position in Ryerson during the first quarter worth $41,000. HighMark Wealth Management LLC acquired a new position in Ryerson during the first quarter worth $42,000. Citigroup Inc. increased its position in Ryerson by 298.5% during the fourth quarter. Citigroup Inc. now owns 3,188 shares of the basic materials company’s stock worth $43,000 after buying an additional 2,388 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Ryerson by 83.1% during the first quarter. BNP Paribas Arbitrage SA now owns 8,160 shares of the basic materials company’s stock worth $139,000 after buying an additional 3,704 shares during the last quarter. Institutional investors own 92.95% of the company’s stock.

Separately, Zacks Investment Research raised shares of Ryerson from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, June 22nd.

Ryerson stock opened at $14.50 on Thursday. The company has a debt-to-equity ratio of 4.14, a current ratio of 1.85 and a quick ratio of 0.97. The firm has a market capitalization of $557.89 million, a P/E ratio of -9.67 and a beta of 1.59. Ryerson Holding Co. has a one year low of $5.24 and a one year high of $19.46. The stock’s fifty day simple moving average is $15.33.

Ryerson (NYSE:RYI) last issued its quarterly earnings results on Tuesday, May 4th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.19). The business had revenue of $1.15 billion during the quarter. Ryerson had a negative net margin of 1.58% and a negative return on equity of 5.66%. Equities research analysts forecast that Ryerson Holding Co. will post 2.15 EPS for the current year.

About Ryerson

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company 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, structurals, and tubing.

Further Reading: Lock-Up Period Expiration

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Institutional Ownership by Quarter for Ryerson (NYSE:RYI)

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