Reliance Steel & Aluminum Co (RS) Holdings Trimmed by Northern Trust Corp

Northern Trust Corp trimmed its position in Reliance Steel & Aluminum Co (NYSE:RS) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 577,914 shares of the industrial products company’s stock after selling 15,138 shares during the quarter. Northern Trust Corp owned about 0.82% of Reliance Steel & Aluminum worth $41,130,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RS. Private Advisor Group LLC purchased a new position in shares of Reliance Steel & Aluminum in the third quarter valued at $231,000. American Century Companies Inc. boosted its stake in Reliance Steel & Aluminum by 139.1% during the third quarter. American Century Companies Inc. now owns 74,805 shares of the industrial products company’s stock valued at $6,380,000 after buying an additional 43,520 shares during the period. Janney Montgomery Scott LLC boosted its stake in Reliance Steel & Aluminum by 206.2% during the third quarter. Janney Montgomery Scott LLC now owns 17,174 shares of the industrial products company’s stock valued at $1,465,000 after buying an additional 11,566 shares during the period. Janus Henderson Group PLC boosted its stake in Reliance Steel & Aluminum by 75.6% during the third quarter. Janus Henderson Group PLC now owns 15,800 shares of the industrial products company’s stock valued at $1,348,000 after buying an additional 6,800 shares during the period. Finally, Twin Tree Management LP bought a new stake in Reliance Steel & Aluminum during the third quarter valued at $174,000. Institutional investors own 81.88% of the company’s stock.

Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Cowen reissued an “outperform” rating and set a $95.00 price objective (up previously from $80.00) on shares of Reliance Steel & Aluminum in a research note on Tuesday, February 26th. Bank of America raised Reliance Steel & Aluminum from an “underperform” rating to a “neutral” rating and set a $84.00 price objective for the company in a research note on Thursday, December 13th. ValuEngine lowered Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. Finally, KeyCorp reissued a “buy” rating and set a $90.00 price objective on shares of Reliance Steel & Aluminum in a research note on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $91.11.

Shares of RS stock opened at $87.09 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.70 and a quick ratio of 2.10. Reliance Steel & Aluminum Co has a 12-month low of $68.62 and a 12-month high of $97.41. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.13 and a beta of 1.27.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings results on Thursday, February 21st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.63). Reliance Steel & Aluminum had a return on equity of 13.30% and a net margin of 5.49%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the firm earned $1.22 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities research analysts anticipate that Reliance Steel & Aluminum Co will post 8.71 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, March 14th. This represents a $2.20 annualized dividend and a yield of 2.53%. This is a positive change from Reliance Steel & Aluminum’s previous quarterly dividend of $0.50. Reliance Steel & Aluminum’s payout ratio is 24.61%.

In other news, Director David H. Hannah sold 25,000 shares of Reliance Steel & Aluminum stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $85.51, for a total value of $2,137,750.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew G. Sharkey III sold 2,000 shares of Reliance Steel & Aluminum stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $89.05, for a total value of $178,100.00. Following the completion of the transaction, the director now owns 6,893 shares in the company, valued at approximately $613,821.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,562 shares of company stock valued at $9,177,058. Corporate insiders own 3.24% of the company’s stock.

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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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