ClariVest Asset Management LLC boosted its position in shares of Ryerson Holding Corp (NYSE:RYI) by 3.3% during the 1st quarter, HoldingsChannel reports. The firm owned 98,100 shares of the basic materials company’s stock after buying an additional 3,100 shares during the quarter. ClariVest Asset Management LLC’s holdings in Ryerson were worth $840,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan purchased a new position in shares of Ryerson during the 4th quarter valued at $963,000. Bank of New York Mellon Corp grew its holdings in shares of Ryerson by 62.2% during the 4th quarter. Bank of New York Mellon Corp now owns 274,066 shares of the basic materials company’s stock valued at $1,737,000 after acquiring an additional 105,046 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ryerson by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,295,114 shares of the basic materials company’s stock valued at $8,211,000 after acquiring an additional 97,085 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Ryerson by 264.8% during the 4th quarter. New York State Common Retirement Fund now owns 64,561 shares of the basic materials company’s stock valued at $409,000 after acquiring an additional 46,861 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Ryerson by 36.6% during the 1st quarter. Victory Capital Management Inc. now owns 140,840 shares of the basic materials company’s stock valued at $1,206,000 after acquiring an additional 37,765 shares in the last quarter. Hedge funds and other institutional investors own 35.87% of the company’s stock.
Ryerson stock opened at $7.19 on Friday. The company has a debt-to-equity ratio of 10.69, a quick ratio of 1.01 and a current ratio of 2.34. Ryerson Holding Corp has a 12 month low of $5.99 and a 12 month high of $12.85. The firm has a market cap of $271.67 million, a PE ratio of 4.55 and a beta of 1.93.
Ryerson (NYSE:RYI) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.57 by $0.22. Ryerson had a net margin of 2.66% and a return on equity of 76.79%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company posted $0.28 EPS. Ryerson’s revenue was up 30.8% on a year-over-year basis. As a group, equities analysts expect that Ryerson Holding Corp will post 2.27 earnings per share for the current fiscal year.
In other Ryerson news, insider Michael Burbach acquired 4,000 shares of Ryerson stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $8.49 per share, with a total value of $33,960.00. Following the purchase, the insider now owns 110,090 shares in the company, valued at $934,664.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen P. Larson acquired 20,000 shares of Ryerson stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of $8.55 per share, with a total value of $171,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at approximately $342,000. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 29,171 shares of company stock valued at $248,176. 1.36% of the stock is owned by company insiders.
Several equities analysts have recently commented on the stock. ValuEngine cut shares of Ryerson from a “sell” rating to a “strong sell” rating in a report on Thursday, April 11th. Deutsche Bank cut shares of Ryerson from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a report on Wednesday, April 10th. Finally, Zacks Investment Research upgraded shares of Ryerson from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a report on Wednesday, May 8th.
COPYRIGHT VIOLATION WARNING: “Ryerson Holding Corp (NYSE:RYI) Shares Bought by ClariVest Asset Management LLC” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2019/06/16/ryerson-holding-corp-nyseryi-shares-bought-by-clarivest-asset-management-llc.html.
Ryerson Company Profile
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 stainless steel, aluminum, carbon steel, and alloy steels, 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: Technical Indicators – What is a Golden Cross?
Want to see what other hedge funds are holding RYI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ryerson Holding Corp (NYSE:RYI).
Receive News & Ratings for Ryerson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryerson and related companies with MarketBeat.com's FREE daily email newsletter.