Deutsche Bank set a $100.00 price objective on Reliance Steel & Aluminum (NYSE:RS) in a report published on Thursday, Stock Target Advisor reports. The firm currently has a buy rating on the industrial products company’s stock.
A number of other analysts also recently weighed in on the stock. Bank of America set a $77.00 price target on shares of Zscaler and gave the company a neutral rating in a research report on Friday, May 31st. Longbow Research downgraded shares of Reliance Steel & Aluminum from a neutral rating to an underperform rating and set a $76.00 price target on the stock. in a research report on Thursday, April 18th. Jefferies Financial Group downgraded shares of Reliance Steel & Aluminum from a buy rating to a hold rating and cut their price target for the company from $105.00 to $100.00 in a research report on Friday, April 26th. Citigroup set a $98.00 price target on shares of Reliance Steel & Aluminum and gave the company a hold rating in a research report on Monday, May 20th. Finally, Cowen set a $100.00 price target on shares of Reliance Steel & Aluminum and gave the company a buy rating in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $96.10.
Shares of NYSE:RS opened at $91.84 on Thursday. The firm has a market cap of $6.11 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. The company has a 50 day moving average price of $89.19. The company has a quick ratio of 1.85, a current ratio of 4.06 and a debt-to-equity ratio of 0.47. Reliance Steel & Aluminum has a fifty-two week low of $68.62 and a fifty-two week high of $95.66.
The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.20 annualized dividend and a yield of 2.40%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 24.61%.
In other Reliance Steel & Aluminum news, Director Gregg J. Mollins sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $91.81, for a total transaction of $2,295,250.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stephen Paul Koch sold 11,333 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $91.62, for a total transaction of $1,038,329.46. Following the sale, the vice president now owns 22,187 shares in the company, valued at $2,032,772.94. The disclosure for this sale can be found here. Insiders have sold a total of 39,008 shares of company stock worth $3,580,455 over the last 90 days. Corporate insiders own 3.43% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RS. Advisory Services Network LLC raised its holdings in Reliance Steel & Aluminum by 982.9% during the 4th quarter. Advisory Services Network LLC now owns 444 shares of the industrial products company’s stock worth $32,000 after buying an additional 403 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Reliance Steel & Aluminum by 279.1% during the 1st quarter. Quadrant Capital Group LLC now owns 436 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 321 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Reliance Steel & Aluminum by 166.0% during the 1st quarter. Parallel Advisors LLC now owns 532 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 332 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Reliance Steel & Aluminum during the 1st quarter worth approximately $60,000. Finally, Hilton Capital Management LLC bought a new position in shares of Reliance Steel & Aluminum during the 1st quarter worth approximately $99,000. Hedge funds and other institutional investors own 81.41% of the company’s stock.
About Reliance Steel & Aluminum
Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.
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