Trexquant Investment LP Sells 8,743 Shares of Reliance Steel & Aluminum Co (NYSE:RS)

Trexquant Investment LP decreased its position in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 37.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,645 shares of the industrial products company’s stock after selling 8,743 shares during the period. Trexquant Investment LP’s holdings in Reliance Steel & Aluminum were worth $1,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its holdings in shares of Reliance Steel & Aluminum by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the industrial products company’s stock valued at $1,928,000 after purchasing an additional 100 shares in the last quarter. Virginia Retirement Systems ET AL raised its holdings in Reliance Steel & Aluminum by 0.5% in the 4th quarter. Virginia Retirement Systems ET AL now owns 18,900 shares of the industrial products company’s stock valued at $2,263,000 after acquiring an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Reliance Steel & Aluminum by 1.1% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 12,360 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 130 shares during the last quarter. O Shares Investment Advisers LLC lifted its stake in shares of Reliance Steel & Aluminum by 1.5% during the 4th quarter. O Shares Investment Advisers LLC now owns 10,995 shares of the industrial products company’s stock worth $1,317,000 after purchasing an additional 159 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Reliance Steel & Aluminum by 1.9% during the 4th quarter. ProShare Advisors LLC now owns 9,600 shares of the industrial products company’s stock worth $1,150,000 after purchasing an additional 178 shares during the period. 84.16% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on RS shares. KeyCorp lowered their price objective on Reliance Steel & Aluminum from $125.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Cowen cut Reliance Steel & Aluminum from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $123.00 to $122.00 in a report on Tuesday, January 21st. They noted that the move was a valuation call. ValuEngine cut Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Exane BNP Paribas assumed coverage on shares of Reliance Steel & Aluminum in a research report on Thursday, November 14th. They issued a “neutral” rating and a $117.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating and set a $128.00 price objective on the stock. in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $111.00.

Shares of NYSE RS traded down $7.41 during trading hours on Thursday, hitting $88.07. The company had a trading volume of 523,040 shares, compared to its average volume of 628,670. The stock has a market capitalization of $6.62 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 1.31 and a beta of 1.28. The company has a quick ratio of 2.02, a current ratio of 4.46 and a debt-to-equity ratio of 0.32. Reliance Steel & Aluminum Co has a 1-year low of $82.62 and a 1-year high of $122.17. The firm’s 50 day moving average is $111.52 and its 200-day moving average is $111.00.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, February 20th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.71. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.49 billion. Reliance Steel & Aluminum had a net margin of 6.39% and a return on equity of 13.98%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, sell-side analysts predict that Reliance Steel & Aluminum Co will post 8.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.625 per share. This is an increase from Reliance Steel & Aluminum’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $2.50 annualized dividend and a yield of 2.84%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 21.28%.

In other news, CFO Karla R. Lewis sold 18,954 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $107.26, for a total transaction of $2,033,006.04. Following the completion of the sale, the chief financial officer now owns 105,430 shares in the company, valued at $11,308,421.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.43% of the company’s stock.

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

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