Reliance Steel & Aluminum Co (NYSE:RS) Shares Bought by Swiss National Bank

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Swiss National Bank lifted its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,400 shares of the industrial products company’s stock after acquiring an additional 500 shares during the quarter. Swiss National Bank’s holdings in Reliance Steel & Aluminum were worth $11,589,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RS. Vanguard Group Inc raised its stake in Reliance Steel & Aluminum by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 6,340,594 shares of the industrial products company’s stock worth $540,790,000 after buying an additional 39,418 shares during the period. Victory Capital Management Inc. raised its stake in shares of Reliance Steel & Aluminum by 2.2% in the first quarter. Victory Capital Management Inc. now owns 4,091,752 shares of the industrial products company’s stock worth $369,322,000 after purchasing an additional 89,812 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Reliance Steel & Aluminum by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,581,111 shares of the industrial products company’s stock worth $183,704,000 after purchasing an additional 21,911 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Reliance Steel & Aluminum by 7,017.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,033,327 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 2,004,757 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Reliance Steel & Aluminum by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 970,224 shares of the industrial products company’s stock worth $69,050,000 after purchasing an additional 54,486 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

In other news, Director Gregg J. Mollins sold 25,000 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $91.81, for a total transaction of $2,295,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeffrey Wayne Durham sold 2,675 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $92.29, for a total transaction of $246,875.75. Following the transaction, the vice president now owns 8,255 shares of the company’s stock, valued at $761,853.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,008 shares of company stock worth $3,580,455. Insiders own 3.43% of the company’s stock.

RS has been the subject of several recent analyst reports. Jefferies Financial Group lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and reduced their target price for the company from $105.00 to $100.00 in a report on Friday, April 26th. Longbow Research downgraded Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a research report on Thursday, April 18th. Cowen reiterated an “outperform” rating and issued a $95.00 price objective (up previously from $80.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, February 26th. Citigroup set a $98.00 price target on Reliance Steel & Aluminum and gave the company a “hold” rating in a research report on Monday, May 20th. Finally, Deutsche Bank raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $84.82 price objective on the stock in a research note on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Reliance Steel & Aluminum has a consensus rating of “Hold” and an average target price of $94.08.

Reliance Steel & Aluminum stock traded up $0.05 during trading hours on Wednesday, hitting $89.15. 3,934 shares of the stock traded hands, compared to its average volume of 439,483. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.85 and a current ratio of 4.06. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.04 and a beta of 1.26. Reliance Steel & Aluminum Co has a one year low of $68.62 and a one year high of $96.36.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.42. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Reliance Steel & Aluminum had a return on equity of 13.70% and a net margin of 5.58%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 EPS. On average, analysts predict that Reliance Steel & Aluminum Co will post 9.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.20 annualized dividend and a yield of 2.47%. Reliance Steel & Aluminum’s payout ratio is 24.61%.

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Reliance Steel & Aluminum 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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