Teachers Advisors LLC Boosts Stake in Reliance Steel & Aluminum Co. (NYSE:RS)

Teachers Advisors LLC increased its position in Reliance Steel & Aluminum Co. (NYSE:RS) by 59.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 196,044 shares of the industrial products company’s stock after buying an additional 73,044 shares during the period. Teachers Advisors LLC owned approximately 0.27% of Reliance Steel & Aluminum Co. worth $15,687,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Reliance Steel & Aluminum Co. during the fourth quarter worth $52,327,000. CrestPoint Capital Management LLC bought a new stake in shares of Reliance Steel & Aluminum Co. during the first quarter worth $208,000. Capstone Asset Management Co. boosted its stake in shares of Reliance Steel & Aluminum Co. by 3.6% in the first quarter. Capstone Asset Management Co. now owns 8,086 shares of the industrial products company’s stock worth $647,000 after buying an additional 280 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Reliance Steel & Aluminum Co. during the first quarter worth $688,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Reliance Steel & Aluminum Co. by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the industrial products company’s stock worth $1,472,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Reliance Steel & Aluminum Co. (RS) opened at 75.01 on Tuesday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 17.00 and a beta of 1.23. The company has a 50-day moving average price of $72.93 and a 200-day moving average price of $78.82. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58.

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its earnings results on Thursday, April 27th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.10. Reliance Steel & Aluminum Co. had a net margin of 3.65% and a return on equity of 8.71%. The company had revenue of $2.42 billion during the quarter. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that Reliance Steel & Aluminum Co. will post $5.31 EPS for the current year.

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RS has been the topic of a number of research reports. Longbow Research initiated coverage on Reliance Steel & Aluminum Co. in a research report on Wednesday, April 19th. They set a “neutral” rating on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $77.00 price objective (down from $80.00) on shares of Reliance Steel & Aluminum Co. in a report on Friday, April 28th. Barclays PLC reissued a “hold” rating and issued a $59.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Monday, May 1st. Bank of America Corporation raised Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, May 23rd. They noted that the move was a valuation call. Finally, BidaskClub raised Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $82.71.

About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

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

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