Reliance Steel & Aluminum Co. (RS) Position Lifted by Profit Investment Management LLC

Profit Investment Management LLC raised its position in Reliance Steel & Aluminum Co. (NYSE:RS) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 44,991 shares of the industrial products company’s stock after purchasing an additional 1,995 shares during the period. Reliance Steel & Aluminum comprises approximately 2.9% of Profit Investment Management LLC’s portfolio, making the stock its 2nd biggest holding. Profit Investment Management LLC owned 0.06% of Reliance Steel & Aluminum worth $3,860,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RS. Grove Bank & Trust grew its holdings in Reliance Steel & Aluminum by 117.8% in the third quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 860 shares during the last quarter. Huntington National Bank lifted its position in shares of Reliance Steel & Aluminum by 267.8% in the third quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 1,173 shares in the last quarter. Zions Bancorporation purchased a new stake in shares of Reliance Steel & Aluminum in the third quarter valued at $144,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Reliance Steel & Aluminum by 633.3% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 2,204 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of Reliance Steel & Aluminum in the third quarter valued at $201,000. 82.30% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on RS. Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Monday, October 16th. ValuEngine downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. KeyCorp set a $95.00 price objective on Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Cowen restated a “buy” rating and issued a $92.00 price objective on shares of Reliance Steel & Aluminum in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $83.50.

Reliance Steel & Aluminum Co. (NYSE:RS) traded up $0.48 during midday trading on Wednesday, reaching $90.93. The company had a trading volume of 512,100 shares, compared to its average volume of 445,750. Reliance Steel & Aluminum Co. has a 1 year low of $68.46 and a 1 year high of $92.18. The stock has a market capitalization of $6,595.19, a P/E ratio of 17.90, a PEG ratio of 1.57 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 (NYSE:RS) last released its earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter. During the same quarter last year, the company posted $1.25 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. sell-side analysts predict that Reliance Steel & Aluminum Co. will post 5.21 EPS for the current fiscal year.

In related news, SVP William A. Smith II sold 1,123 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $82.69, for a total transaction of $92,860.87. Following the transaction, the senior vice president now directly owns 15,320 shares in the company, valued at $1,266,810.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.18% of the company’s stock.

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About Reliance Steel & Aluminum

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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