Strs Ohio Increases Position in Reliance Steel & Aluminum Co (RS)

Strs Ohio lifted its stake in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 20.6% during the 3rd quarter, Holdings Channel reports. The firm owned 6,445 shares of the industrial products company’s stock after acquiring an additional 1,102 shares during the period. Strs Ohio’s holdings in Reliance Steel & Aluminum were worth $549,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its position in shares of Reliance Steel & Aluminum by 107.9% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 750 shares during the period. Itau Unibanco Holding S.A. lifted its position in shares of Reliance Steel & Aluminum by 130.1% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 1,352 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Reliance Steel & Aluminum in the 2nd quarter worth approximately $237,000. First Hawaiian Bank acquired a new position in shares of Reliance Steel & Aluminum in the 3rd quarter worth approximately $241,000. Finally, GAM Holding AG acquired a new position in shares of Reliance Steel & Aluminum in the 2nd quarter worth approximately $245,000. 81.25% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on RS. KeyCorp dropped their price target on shares of Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a research report on Monday, September 10th. Macquarie set a $96.00 price target on shares of Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Friday, October 26th. Citigroup downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Deutsche Bank downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and dropped their price target for the stock from $100.00 to $90.00 in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Reliance Steel & Aluminum presently has a consensus rating of “Hold” and a consensus price target of $95.30.

Shares of NYSE RS opened at $81.06 on Friday. The company has a market capitalization of $5.83 billion, a PE ratio of 9.16, a PEG ratio of 0.96 and a beta of 1.15. Reliance Steel & Aluminum Co has a 52-week low of $72.69 and a 52-week high of $97.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 4.40.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings data on Thursday, October 25th. The industrial products company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.27). The company had revenue of $2.97 billion during the quarter. Reliance Steel & Aluminum had a net margin of 7.66% and a return on equity of 13.58%. On average, equities research analysts expect that Reliance Steel & Aluminum Co will post 9.67 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.47%. Reliance Steel & Aluminum’s dividend payout ratio is currently 36.76%.

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Reliance Steel & Aluminum Profile

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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