Ryerson Holding Co. (NYSE:RYI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its position in Ryerson Holding Co. (NYSE:RYI) by 25.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,253,840 shares of the basic materials company’s stock after selling 417,933 shares during the quarter. Franklin Resources Inc.’s holdings in Ryerson were worth $26,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RYI. SummerHaven Investment Management LLC grew its position in Ryerson by 3.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,590 shares of the basic materials company’s stock valued at $343,000 after acquiring an additional 636 shares in the last quarter. Point72 DIFC Ltd boosted its stake in shares of Ryerson by 16.7% in the second quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 837 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Ryerson by 7.9% in the second quarter. Principal Financial Group Inc. now owns 13,623 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 1,003 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Ryerson by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,626 shares of the basic materials company’s stock worth $305,000 after buying an additional 1,157 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Ryerson during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Stock Performance

Shares of RYI stock opened at $20.82 on Thursday. Ryerson Holding Co. has a 52 week low of $17.57 and a 52 week high of $36.20. The firm has a 50 day moving average of $23.40 and a two-hundred day moving average of $21.42. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $663.05 million, a PE ratio of 34.13 and a beta of 1.54.

Ryerson (NYSE:RYI) last released its earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Ryerson had a net margin of 0.46% and a return on equity of 2.66%. The company had revenue of $1.13 billion during the quarter. During the same period in the previous year, the business posted $1.00 EPS.

Ryerson Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.1875 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.60%. Ryerson’s payout ratio is 122.95%.

Insider Activity at Ryerson

In other Ryerson news, EVP Mark S. Silver sold 9,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $24.56, for a total value of $221,040.00. Following the sale, the executive vice president now directly owns 107,664 shares of the company’s stock, valued at approximately $2,644,227.84. This represents a 7.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.88% of the stock is owned by corporate insiders.

Ryerson Profile

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.