Reliance Steel & Aluminum Co. (NYSE:RS) Given Average Rating of “Hold” by Brokerages

Reliance Steel & Aluminum Co. (NYSE:RS) has earned an average recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $275.00.

Several analysts have recently commented on RS shares. KeyCorp lowered their price objective on Reliance Steel & Aluminum from $290.00 to $285.00 and set an “overweight” rating for the company in a research note on Friday, October 27th. StockNews.com raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Monday.

Insider Activity

In other news, CEO Karla R. Lewis sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $284.15, for a total value of $2,841,500.00. Following the completion of the sale, the chief executive officer now owns 111,258 shares of the company’s stock, valued at approximately $31,613,960.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $277.65, for a total value of $1,388,250.00. Following the completion of the sale, the director now owns 10,482 shares of the company’s stock, valued at approximately $2,910,327.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Karla R. Lewis sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $284.15, for a total value of $2,841,500.00. Following the completion of the sale, the chief executive officer now directly owns 111,258 shares of the company’s stock, valued at approximately $31,613,960.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,503 shares of company stock valued at $8,878,406. 0.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Reliance Steel & Aluminum by 7.7% during the 2nd quarter. BlackRock Inc. now owns 6,953,615 shares of the industrial products company’s stock worth $1,888,532,000 after acquiring an additional 500,057 shares during the period. State Street Corp grew its holdings in shares of Reliance Steel & Aluminum by 1.9% during the 2nd quarter. State Street Corp now owns 2,608,412 shares of the industrial products company’s stock worth $708,419,000 after acquiring an additional 47,971 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Reliance Steel & Aluminum by 814.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,436,988 shares of the industrial products company’s stock worth $47,995,000 after acquiring an additional 1,279,892 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Reliance Steel & Aluminum by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,394,787 shares of the industrial products company’s stock worth $358,099,000 after acquiring an additional 50,623 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Reliance Steel & Aluminum by 19.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,226,377 shares of the industrial products company’s stock worth $314,818,000 after acquiring an additional 202,853 shares during the period. Hedge funds and other institutional investors own 80.87% of the company’s stock.

Reliance Steel & Aluminum Trading Up 2.0 %

NYSE RS opened at $272.90 on Wednesday. The business’s 50-day moving average price is $260.68 and its two-hundred day moving average price is $263.61. Reliance Steel & Aluminum has a 12 month low of $196.11 and a 12 month high of $295.98. The firm has a market capitalization of $15.68 billion, a PE ratio of 11.47 and a beta of 0.93. The company has a current ratio of 5.53, a quick ratio of 3.13 and a debt-to-equity ratio of 0.15.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $5.00 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $5.00. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.61 billion. Reliance Steel & Aluminum had a return on equity of 18.92% and a net margin of 9.38%. The firm’s revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $6.48 EPS. On average, analysts expect that Reliance Steel & Aluminum will post 21.84 EPS for the current year.

Reliance Steel & Aluminum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.00 dividend on an annualized basis and a yield of 1.47%. Reliance Steel & Aluminum’s payout ratio is 16.81%.

Reliance Steel & Aluminum Company Profile

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.