Cornercap Investment Counsel Inc. Buys New Shares in Ryerson Holding Co. (NYSE:RYI)

Cornercap Investment Counsel Inc. bought a new stake in shares of Ryerson Holding Co. (NYSE:RYI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 30,553 shares of the basic materials company’s stock, valued at approximately $1,060,000. Cornercap Investment Counsel Inc. owned 0.09% of Ryerson as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Denali Advisors LLC raised its holdings in Ryerson by 43.9% during the fourth quarter. Denali Advisors LLC now owns 144,035 shares of the basic materials company’s stock worth $4,995,000 after buying an additional 43,919 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Ryerson by 47.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 586,206 shares of the basic materials company’s stock worth $17,053,000 after acquiring an additional 189,517 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Ryerson by 2,203.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 261,647 shares of the basic materials company’s stock worth $7,611,000 after acquiring an additional 250,290 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ryerson by 106.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 382,092 shares of the basic materials company’s stock worth $11,115,000 after acquiring an additional 196,872 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Ryerson by 30.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 12,677 shares of the basic materials company’s stock worth $369,000 after acquiring an additional 2,996 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Insiders Place Their Bets

In other Ryerson news, insider Alagu Sundarrajan sold 2,593 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $32.52, for a total transaction of $84,324.36. Following the completion of the transaction, the insider now owns 10,484 shares in the company, valued at $340,939.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.88% of the company’s stock.

Ryerson Stock Performance

NYSE RYI opened at $32.74 on Tuesday. Ryerson Holding Co. has a 1 year low of $26.15 and a 1 year high of $44.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 0.95. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 8.04 and a beta of 1.65. The company has a fifty day moving average price of $32.76 and a 200-day moving average price of $31.52.

Ryerson (NYSE:RYI) last posted its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.49. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Ryerson had a net margin of 2.85% and a return on equity of 16.33%. During the same quarter in the prior year, the business earned ($0.65) earnings per share.

Ryerson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Ryerson’s previous quarterly dividend of $0.18. Ryerson’s dividend payout ratio (DPR) is currently 18.43%.

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.