Reliance Steel & Aluminum Co (RS) Holdings Lessened by Dowling & Yahnke LLC

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Dowling & Yahnke LLC lessened its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 457,391 shares of the industrial products company’s stock after selling 6,200 shares during the period. Reliance Steel & Aluminum comprises 3.4% of Dowling & Yahnke LLC’s holdings, making the stock its largest holding. Dowling & Yahnke LLC’s holdings in Reliance Steel & Aluminum were worth $39,011,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its position in shares of Reliance Steel & Aluminum by 107.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 750 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Reliance Steel & Aluminum by 130.1% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 1,352 shares in the last quarter. Balasa Dinverno & Foltz LLC acquired a new position in shares of Reliance Steel & Aluminum during the 3rd quarter worth approximately $209,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Reliance Steel & Aluminum during the 2nd quarter worth approximately $237,000. Finally, GAM Holding AG acquired a new position in shares of Reliance Steel & Aluminum during the 2nd quarter worth approximately $245,000. Hedge funds and other institutional investors own 81.40% of the company’s stock.

NYSE RS opened at $76.94 on Wednesday. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39. The company has a market cap of $5.52 billion, a P/E ratio of 14.14, a PEG ratio of 0.85 and a beta of 1.13. Reliance Steel & Aluminum Co has a 1 year low of $72.69 and a 1 year high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.69 by ($0.27). The firm had revenue of $2.97 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 13.58% and a net margin of 7.66%. Equities analysts expect that Reliance Steel & Aluminum Co will post 9.63 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, November 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. Reliance Steel & Aluminum’s dividend payout ratio is 36.76%.

A number of research analysts have issued reports on RS shares. Zacks Investment Research lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Monday, September 3rd. JPMorgan Chase & Co. increased their target price on shares of Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Citigroup lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Jefferies Financial Group upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, July 10th. Finally, KeyCorp reduced their price target on shares of Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a research report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $95.30.

About Reliance Steel & Aluminum

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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