Hillsdale Investment Management Inc. grew its position in shares of Ryerson Holding Corp (NYSE:RYI) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,000 shares of the basic materials company’s stock after purchasing an additional 9,800 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.46% of Ryerson worth $1,457,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in RYI. Investors Research Corp purchased a new stake in shares of Ryerson during the first quarter worth $27,000. BNP Paribas Arbitrage SA increased its position in shares of Ryerson by 111.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,375 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 1,778 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Ryerson during the second quarter worth $50,000. Aperio Group LLC purchased a new stake in shares of Ryerson during the second quarter worth $108,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Ryerson during the first quarter worth $184,000. Institutional investors own 35.83% of the company’s stock.
RYI has been the topic of a number of recent research reports. ValuEngine lowered Ryerson from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered Ryerson from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 10th. Finally, Deutsche Bank set a $10.00 price objective on Ryerson and gave the stock a “hold” rating in a research report on Thursday, July 11th.
Ryerson (NYSE:RYI) last posted its earnings results on Monday, August 5th. The basic materials company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.32). The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Ryerson had a net margin of 2.56% and a return on equity of 56.51%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. On average, sell-side analysts forecast that Ryerson Holding Corp will post 2.02 earnings per share for the current year.
In other Ryerson news, insider Michael Burbach bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of $8.49 per share, with a total value of $33,960.00. Following the completion of the acquisition, the insider now directly owns 110,090 shares of the company’s stock, valued at approximately $934,664.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.36% of the company’s stock.
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.
See Also: Producer Price Index (PPI)
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.