Oppenheimer Asset Management Inc. lowered its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,293 shares of the industrial products company’s stock after selling 1,662 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.25% of Reliance Steel & Aluminum worth $13,809,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in RS. Janney Montgomery Scott LLC boosted its position in Reliance Steel & Aluminum by 29.4% in the second quarter. Janney Montgomery Scott LLC now owns 4,989 shares of the industrial products company’s stock worth $363,000 after purchasing an additional 1,133 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Reliance Steel & Aluminum in the second quarter worth $621,000. Sei Investments Co. boosted its position in Reliance Steel & Aluminum by 38.3% in the second quarter. Sei Investments Co. now owns 13,606 shares of the industrial products company’s stock worth $991,000 after purchasing an additional 3,766 shares during the last quarter. Pioneer Investment Management Inc. purchased a new position in shares of Reliance Steel & Aluminum during the 2nd quarter valued at $22,470,000. Finally, Global X Management Co. LLC lifted its position in shares of Reliance Steel & Aluminum by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock valued at $168,000 after buying an additional 1,584 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.
In other news, SVP William A. Smith II sold 1,123 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $82.69, for a total value of $92,860.87. Following the transaction, the senior vice president now directly owns 15,320 shares in the company, valued at approximately $1,266,810.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.73% of the company’s stock.
Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down $1.08 during mid-day trading on Friday, reaching $85.79. The company had a trading volume of 259,573 shares, compared to its average volume of 437,669. The stock has a market cap of $6,334.15, a PE ratio of 16.89, a PEG ratio of 1.85 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.06 and a quick ratio of 1.79. Reliance Steel & Aluminum Co. has a 52 week low of $68.46 and a 52 week high of $88.58.
Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. The company had revenue of $2.45 billion during the quarter. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. research analysts anticipate that Reliance Steel & Aluminum Co. will post 5.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were paid a $0.45 dividend. The ex-dividend date was Thursday, November 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 35.43%.
Reliance Steel & Aluminum 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).
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