Highbridge Capital Management LLC purchased a new stake in Ryerson Holding Corp (NYSE:RYI) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,777 shares of the basic materials company’s stock, valued at approximately $431,000. Highbridge Capital Management LLC owned approximately 0.11% of Ryerson as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RYI. Dimensional Fund Advisors LP lifted its stake in Ryerson by 11.5% in the third quarter. Dimensional Fund Advisors LP now owns 872,310 shares of the basic materials company’s stock valued at $9,462,000 after buying an additional 89,892 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Ryerson by 1,111.8% in the third quarter. Wells Fargo & Company MN now owns 246,515 shares of the basic materials company’s stock valued at $2,674,000 after buying an additional 226,172 shares during the last quarter. IndexIQ Advisors LLC lifted its stake in Ryerson by 83.1% in the third quarter. IndexIQ Advisors LLC now owns 68,790 shares of the basic materials company’s stock valued at $746,000 after buying an additional 31,218 shares during the last quarter. First Trust Advisors LP purchased a new stake in Ryerson in the third quarter valued at approximately $134,000. Finally, Benefit Street Partners LLC lifted its stake in Ryerson by 193.6% in the second quarter. Benefit Street Partners LLC now owns 200,000 shares of the basic materials company’s stock valued at $1,980,000 after buying an additional 131,875 shares during the last quarter. 39.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Ryerson Holding Corp (RYI) opened at $8.85 on Monday. Ryerson Holding Corp has a 52 week low of $7.65 and a 52 week high of $16.00. The company has a current ratio of 2.49, a quick ratio of 1.08 and a debt-to-equity ratio of -70.93. The company has a market capitalization of $327.44, a P/E ratio of 31.43 and a beta of 2.07.

Ryerson (NYSE:RYI) last released its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. Ryerson had a negative return on equity of 33.95% and a net margin of 0.26%. The business had revenue of $864.20 million during the quarter, compared to analysts’ expectations of $853.35 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. research analysts forecast that Ryerson Holding Corp will post 0.55 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the company. Zacks Investment Research cut Ryerson from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 11th. KeyCorp reiterated a “buy” rating and issued a $13.50 price objective on shares of Ryerson in a research note on Tuesday, September 19th. BMO Capital Markets reduced their price objective on Ryerson to $10.00 and set a “market perform” rating for the company in a research note on Monday, November 13th. Finally, Jefferies Group reiterated a “hold” rating and issued a $9.75 price objective on shares of Ryerson in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $11.08.

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Ryerson Profile

Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.

Institutional Ownership by Quarter for Ryerson (NYSE:RYI)

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