Louisiana State Employees Retirement System lowered its holdings in Reliance Steel & Aluminum Co (NYSE:RS) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,000 shares of the industrial products company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Reliance Steel & Aluminum were worth $1,625,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Two Sigma Securities LLC purchased a new position in shares of Reliance Steel & Aluminum in the fourth quarter worth approximately $236,000. KBC Group NV increased its position in shares of Reliance Steel & Aluminum by 27.1% in the fourth quarter. KBC Group NV now owns 92,337 shares of the industrial products company’s stock worth $6,572,000 after acquiring an additional 19,688 shares in the last quarter. Kepos Capital LP purchased a new position in shares of Reliance Steel & Aluminum in the third quarter worth approximately $5,410,000. Dupont Capital Management Corp increased its position in shares of Reliance Steel & Aluminum by 6.6% in the fourth quarter. Dupont Capital Management Corp now owns 68,781 shares of the industrial products company’s stock worth $4,895,000 after acquiring an additional 4,281 shares in the last quarter. Finally, Bell Rock Capital LLC increased its position in shares of Reliance Steel & Aluminum by 70.5% in the fourth quarter. Bell Rock Capital LLC now owns 856 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 354 shares in the last quarter. 83.00% of the stock is currently owned by institutional investors.
Reliance Steel & Aluminum stock opened at $91.69 on Wednesday. The company has a market capitalization of $6.14 billion, a PE ratio of 10.26, a PEG ratio of 1.17 and a beta of 1.27. The company has a current ratio of 4.70, a quick ratio of 2.10 and a debt-to-equity ratio of 0.46. Reliance Steel & Aluminum Co has a fifty-two week low of $68.62 and a fifty-two week high of $97.41.
Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, February 21st. The industrial products company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.63). The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Reliance Steel & Aluminum had a return on equity of 13.30% and a net margin of 5.49%. The business’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. On average, equities research analysts predict that Reliance Steel & Aluminum Co will post 8.67 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.55 per share. This is a boost from Reliance Steel & Aluminum’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, March 14th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 24.61%.
RS has been the topic of several analyst reports. Cowen reissued an “outperform” rating and issued a $95.00 target price (up from $80.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, February 26th. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $91.11.
In related news, SVP William A. Smith II sold 3,025 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $90.63, for a total transaction of $274,155.75. Following the completion of the sale, the senior vice president now directly owns 25,505 shares in the company, valued at $2,311,518.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David H. Hannah sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $85.51, for a total transaction of $2,137,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,562 shares of company stock valued at $9,177,058. 3.24% of the stock is currently owned by corporate insiders.
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Reliance Steel & Aluminum Profile
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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