Janney Montgomery Scott LLC Has $1.38 Million Stock Holdings in Reliance Steel & Aluminum Co. (NYSE:RS)

Janney Montgomery Scott LLC trimmed its position in Reliance Steel & Aluminum Co. (NYSE:RSGet Rating) by 23.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,913 shares of the industrial products company’s stock after selling 2,428 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Reliance Steel & Aluminum were worth $1,380,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of RS. Raymond James Financial Services Advisors Inc. lifted its position in shares of Reliance Steel & Aluminum by 212.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,876 shares of the industrial products company’s stock valued at $1,261,000 after acquiring an additional 4,672 shares during the period. American Century Companies Inc. lifted its position in shares of Reliance Steel & Aluminum by 0.8% during the 1st quarter. American Century Companies Inc. now owns 11,264 shares of the industrial products company’s stock worth $2,065,000 after buying an additional 88 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of Reliance Steel & Aluminum during the 1st quarter worth $1,533,000. Great West Life Assurance Co. Can lifted its position in shares of Reliance Steel & Aluminum by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 40,567 shares of the industrial products company’s stock worth $7,679,000 after buying an additional 3,058 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Reliance Steel & Aluminum by 14.6% during the 1st quarter. Sei Investments Co. now owns 35,984 shares of the industrial products company’s stock worth $6,602,000 after buying an additional 4,573 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Reliance Steel & Aluminum Trading Up 1.7 %

Shares of RS stock opened at $216.80 on Tuesday. The stock has a market cap of $12.72 billion, a price-to-earnings ratio of 7.09 and a beta of 0.87. The stock has a 50-day moving average of $206.37 and a 200-day moving average of $192.72. The company has a current ratio of 3.25, a quick ratio of 1.78 and a debt-to-equity ratio of 0.17. Reliance Steel & Aluminum Co. has a 1-year low of $145.79 and a 1-year high of $217.28.

Reliance Steel & Aluminum (NYSE:RSGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The industrial products company reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.20 by $0.28. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.14 billion. Reliance Steel & Aluminum had a return on equity of 29.31% and a net margin of 10.98%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.15 earnings per share. On average, equities research analysts forecast that Reliance Steel & Aluminum Co. will post 28.65 earnings per share for the current year.

Reliance Steel & Aluminum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Friday, November 18th were paid a dividend of $0.875 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $3.50 annualized dividend and a yield of 1.61%. Reliance Steel & Aluminum’s dividend payout ratio is currently 11.45%.

Insider Buying and Selling

In related news, Director James Donald Hoffman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $211.45, for a total transaction of $2,114,500.00. Following the completion of the sale, the director now owns 19,680 shares of the company’s stock, valued at $4,161,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Reliance Steel & Aluminum news, President Karla R. Lewis sold 9,178 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $213.69, for a total value of $1,961,246.82. Following the completion of the sale, the president now owns 77,832 shares of the company’s stock, valued at $16,631,920.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Donald Hoffman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $211.45, for a total value of $2,114,500.00. Following the completion of the sale, the director now directly owns 19,680 shares of the company’s stock, valued at approximately $4,161,336. The disclosure for this sale can be found here. Insiders sold 25,747 shares of company stock valued at $5,479,608 over the last 90 days. Company insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RS. The Goldman Sachs Group downgraded Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $218.00 to $201.00 in a research report on Thursday, October 6th. StockNews.com downgraded Reliance Steel & Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 6th. Bank of America initiated coverage on Reliance Steel & Aluminum in a research report on Wednesday, January 4th. They issued a “neutral” rating for the company. Finally, KeyCorp increased their target price on Reliance Steel & Aluminum from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Reliance Steel & Aluminum has an average rating of “Moderate Buy” and an average target price of $222.40.

Reliance Steel & Aluminum Company Profile

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Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.

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Institutional Ownership by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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