Putnam Investments LLC Sells 136,189 Shares of Ryerson Holding Co. (NYSE:RYI)

Posted by Defense World Staff on Mar 14th, 2023

Putnam Investments LLC decreased its holdings in Ryerson Holding Co. (NYSE:RYI – Get Rating) by 79.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,269 shares of the basic materials company’s stock after selling 136,189 shares during the period. Putnam Investments LLC owned about 0.10% of Ryerson worth $934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RYI. State Street Corp increased its holdings in shares of Ryerson by 204.1% in the 1st quarter. State Street Corp now owns 925,521 shares of the basic materials company’s stock worth $32,412,000 after purchasing an additional 621,219 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Ryerson by 128.4% in the 2nd quarter. Millennium Management LLC now owns 588,135 shares of the basic materials company’s stock worth $12,521,000 after purchasing an additional 330,600 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ryerson by 377.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 307,803 shares of the basic materials company’s stock worth $6,553,000 after purchasing an additional 243,398 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Ryerson by 2,579.2% in the 2nd quarter. Deutsche Bank AG now owns 252,597 shares of the basic materials company’s stock worth $5,378,000 after purchasing an additional 243,169 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Ryerson by 1,118.2% in the 2nd quarter. Prudential Financial Inc. now owns 235,970 shares of the basic materials company’s stock worth $5,025,000 after purchasing an additional 216,600 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

RYI has been the topic of a number of research reports. BMO Capital Markets raised their price target on Ryerson from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. TheStreet downgraded Ryerson from a “b” rating to a “c+” rating in a research note on Wednesday, February 22nd.

Ryerson Stock Performance

RYI stock opened at $35.56 on Tuesday. The company has a market cap of $1.32 billion, a P/E ratio of 3.53 and a beta of 1.77. Ryerson Holding Co. has a 1 year low of $18.68 and a 1 year high of $44.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.33 and a quick ratio of 1.04. The stock’s fifty day moving average price is $36.65 and its 200-day moving average price is $31.81.

Ryerson (NYSE:RYI – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The basic materials company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($1.35). The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Ryerson had a return on equity of 48.31% and a net margin of 6.18%. On average, equities analysts forecast that Ryerson Holding Co. will post 2.88 earnings per share for the current year.

Ryerson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Monday, March 6th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, March 3rd. This is an increase from Ryerson’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.91%. Ryerson’s payout ratio is 6.75%.

Ryerson Company Profile

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Ryerson Holding Corp. engages in the processing and distribution of industrial metals. It processes and distributes products in stainless steel, aluminum carbon steel and alloy steels and a limited line of nickel and red metals in various shapes and forms. The firm serves end-markets including oil and gas, industrial equipment, transportation equipment, heavy equipment, and electrical machinery.