Dupont Capital Management Corp Buys 3,252 Shares of Reliance Steel & Aluminum Co (RS)

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Dupont Capital Management Corp increased its stake in Reliance Steel & Aluminum Co (NYSE:RS) by 5.3% during the third quarter, HoldingsChannel.com reports. The firm owned 64,500 shares of the industrial products company’s stock after purchasing an additional 3,252 shares during the quarter. Dupont Capital Management Corp’s holdings in Reliance Steel & Aluminum were worth $5,501,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC raised its holdings in Reliance Steel & Aluminum by 107.9% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 750 shares during the period. Itau Unibanco Holding S.A. raised its holdings in Reliance Steel & Aluminum by 130.1% during the second quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 1,352 shares during the period. Balasa Dinverno & Foltz LLC bought a new stake in Reliance Steel & Aluminum during the third quarter valued at about $209,000. Private Advisor Group LLC bought a new stake in Reliance Steel & Aluminum during the third quarter valued at about $231,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Reliance Steel & Aluminum during the second quarter valued at about $237,000. 81.25% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Zacks Investment Research raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Wednesday, September 5th. Deutsche Bank cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and decreased their price target for the company from $100.00 to $90.00 in a report on Tuesday, October 2nd. Macquarie set a $96.00 price target on Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Friday, October 26th. Finally, Citigroup began coverage on Reliance Steel & Aluminum in a report on Monday, September 17th. They set a “neutral” rating and a $90.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $95.30.

Shares of Reliance Steel & Aluminum stock opened at $81.06 on Friday. The stock has a market cap of $5.80 billion, a PE ratio of 14.90, a PEG ratio of 0.95 and a beta of 1.15. The company has a quick ratio of 1.92, a current ratio of 4.40 and a debt-to-equity ratio of 0.39. Reliance Steel & Aluminum Co has a twelve month low of $72.69 and a twelve month high of $97.41.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.47%. Reliance Steel & Aluminum’s payout ratio is 36.76%.

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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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