PEAK6 Investments L.P. Sells 25,220 Shares of Reliance Steel & Aluminum Co. (RS)

PEAK6 Investments L.P. decreased its position in Reliance Steel & Aluminum Co. (NYSE:RS) by 50.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,980 shares of the industrial products company’s stock after selling 25,220 shares during the quarter. PEAK6 Investments L.P.’s holdings in Reliance Steel & Aluminum were worth $1,903,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. QS Investors LLC lifted its holdings in Reliance Steel & Aluminum by 0.5% in the second quarter. QS Investors LLC now owns 3,710 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 17 shares during the period. M&T Bank Corp lifted its holdings in Reliance Steel & Aluminum by 0.6% in the second quarter. M&T Bank Corp now owns 6,785 shares of the industrial products company’s stock valued at $494,000 after acquiring an additional 42 shares during the period. Teacher Retirement System of Texas increased its position in Reliance Steel & Aluminum by 1.2% in the second quarter. Teacher Retirement System of Texas now owns 5,842 shares of the industrial products company’s stock worth $425,000 after buying an additional 67 shares in the last quarter. Synovus Financial Corp increased its position in Reliance Steel & Aluminum by 3.1% in the second quarter. Synovus Financial Corp now owns 3,546 shares of the industrial products company’s stock worth $259,000 after buying an additional 106 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its position in Reliance Steel & Aluminum by 1.3% in the second quarter. State of Wisconsin Investment Board now owns 14,113 shares of the industrial products company’s stock worth $1,028,000 after buying an additional 180 shares in the last quarter. 82.34% of the stock is currently owned by institutional investors.

Shares of Reliance Steel & Aluminum Co. (RS) traded up $0.72 on Thursday, reaching $81.20. The company’s stock had a trading volume of 435,100 shares, compared to its average volume of 494,126. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 4.06. The stock has a market capitalization of $5,920.00, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29. Reliance Steel & Aluminum Co. has a fifty-two week low of $68.46 and a fifty-two week high of $88.58.

Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. The firm had revenue of $2.45 billion during the quarter. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. equities research analysts forecast that Reliance Steel & Aluminum Co. will post 5.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, November 16th. Reliance Steel & Aluminum’s dividend payout ratio is currently 35.36%.

RS has been the subject of a number of analyst reports. Cowen restated a “buy” rating and issued a $92.00 price target on shares of Reliance Steel & Aluminum in a research report on Wednesday, October 4th. Bank of America restated a “buy” rating and issued a $89.00 price target (up previously from $88.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, September 5th. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Monday, October 16th. ValuEngine upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Finally, Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $80.33.

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Reliance Steel & Aluminum Company Profile

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 (NYSE:RS)

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