Allianz Asset Management GmbH Increases Stake in Ryerson Holding Corporation $RYI

Allianz Asset Management GmbH boosted its holdings in shares of Ryerson Holding Corporation (NYSE:RYI) by 32.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 308,964 shares of the basic materials company’s stock after buying an additional 76,565 shares during the period. Allianz Asset Management GmbH’s holdings in Ryerson were worth $7,063,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. SG Americas Securities LLC increased its holdings in Ryerson by 291.3% during the 3rd quarter. SG Americas Securities LLC now owns 44,625 shares of the basic materials company’s stock worth $1,020,000 after purchasing an additional 33,221 shares during the period. Bailard Inc. acquired a new position in shares of Ryerson during the third quarter worth about $729,000. LSV Asset Management increased its stake in shares of Ryerson by 11.7% during the second quarter. LSV Asset Management now owns 135,170 shares of the basic materials company’s stock worth $2,916,000 after buying an additional 14,200 shares during the period. Brandywine Global Investment Management LLC raised its holdings in Ryerson by 20.0% in the second quarter. Brandywine Global Investment Management LLC now owns 139,180 shares of the basic materials company’s stock valued at $3,002,000 after acquiring an additional 23,230 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Ryerson by 34.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 364,006 shares of the basic materials company’s stock worth $7,852,000 after acquiring an additional 94,197 shares during the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Analysts Set New Price Targets

RYI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ryerson in a research report on Monday, December 29th. Zacks Research raised Ryerson to a “hold” rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $25.00.

Insiders Place Their Bets

In other news, CEO Edward J. Lehner sold 59,001 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $30.06, for a total value of $1,773,570.06. Following the completion of the sale, the chief executive officer directly owned 593,228 shares of the company’s stock, valued at approximately $17,832,433.68. The trade was a 9.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James J. Claussen sold 4,972 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.00, for a total value of $149,160.00. Following the completion of the sale, the chief financial officer directly owned 74,284 shares of the company’s stock, valued at approximately $2,228,520. This trade represents a 6.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 64,973 shares of company stock valued at $1,952,740. 3.95% of the stock is owned by corporate insiders.

Ryerson Stock Down 2.8%

Shares of NYSE:RYI opened at $29.11 on Tuesday. The firm has a 50 day simple moving average of $26.86 and a 200-day simple moving average of $23.83. Ryerson Holding Corporation has a twelve month low of $19.02 and a twelve month high of $30.90. The company has a current ratio of 1.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $937.63 million, a PE ratio of -41.00 and a beta of 1.58.

Ryerson Company Profile

Ryerson, Inc is a North American metals distributor and processor serving a broad range of industrial and manufacturing end markets. Headquartered in Chicago, Illinois, the company supplies carbon steels, stainless alloys, aluminum, brass and copper products to customers across the United States, Canada and Mexico. Through its extensive branch network, Ryerson provides just-in-time delivery and comprehensive inventory management solutions to support complex production schedules and tight lead-time requirements.

In addition to raw material distribution, Ryerson offers a suite of value-added processing services, including laser and plasma cutting, plate burning, sawing, shearing, forming, drilling and welding.