CenterBook Partners LP Buys 185,470 Shares of Ryerson Holding $RYZ

by · The Cerbat Gem

CenterBook Partners LP boosted its stake in shares of Ryerson Holding (NYSE:RYZ – Free Report) by 660.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 213,566 shares of the company’s stock after acquiring an additional 185,470 shares during the quarter. CenterBook Partners LP owned about 0.41% of Ryerson worth $5,032,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new position in shares of Ryerson in the 2nd quarter worth approximately $25,000. Integrated Wealth Concepts LLC bought a new position in Ryerson during the second quarter valued at $33,000. Quantbot Technologies LP purchased a new stake in shares of Ryerson in the second quarter valued at $66,000. Public Employees Retirement System of Ohio bought a new stake in shares of Ryerson in the 2nd quarter worth about $130,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Ryerson during the 2nd quarter worth about $148,000. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Ryerson Trading Up 3.5%

RYZ stock traded up $0.93 during trading on Friday, hitting $27.51. The company had a trading volume of 954,224 shares, compared to its average volume of 460,028. Ryerson Holding has a 52-week low of $19.34 and a 52-week high of $33.72. The company has a 50 day simple moving average of $26.49 and a 200-day simple moving average of $26.55. The firm has a market capitalization of $1.42 billion, a P/E ratio of -161.80 and a beta of 1.50. The company has a quick ratio of 1.02, a current ratio of 2.16 and a debt-to-equity ratio of 0.76.

Ryerson (NYSE:RYZ – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.22. The company had revenue of $2.18 billion during the quarter. Ryerson had a net margin of 0.21% and a return on equity of 3.48%. As a group, research analysts forecast that Ryerson Holding will post 1.85 earnings per share for the current fiscal year.

Ryerson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a $0.1875 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.7%. Ryerson’s payout ratio is presently -441.18%.

Analyst Upgrades and Downgrades

RYZ has been the topic of several analyst reports. Wall Street Zen upgraded shares of Ryerson from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded Ryerson from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 30th. Finally, Zacks Research upgraded Ryerson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Get Our Latest Stock Report on Ryerson

Insider Activity at Ryerson

In related news, CEO Edward J. Lehner sold 21,968 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $31.22, for a total value of $685,840.96. Following the transaction, the chief executive officer owned 623,596 shares of the company’s stock, valued at $19,468,667.12. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew S. Greiff sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $32.10, for a total value of $96,300.00. Following the transaction, the executive vice president owned 30,975 shares in the company, valued at $994,297.50. The trade was a 8.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.58% of the stock is owned by corporate insiders.

Ryerson Company Profile

(Free Report)

Ryerson Holding Corporation is a value-added processor and distributor of industrial metals. The company supplies carbon steel, stainless steel, aluminum, nickel, and copper products to manufacturers and other industrial customers, offering materials in forms such as sheets, plates, coils, bars, tubes, and structural products.

In addition to distributing metals, Ryerson provides processing and fabrication services designed to prepare materials for customer specifications. These services include cutting, slitting, sawing, forming, machining, and other methods that help customers manage their material requirements and supply chains.

Founded in Chicago in 1842 by Joseph T.

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