Crossmark Global Holdings Inc. Takes $720,000 Position in Reliance Steel & Aluminum Co. (RS)

Crossmark Global Holdings Inc. purchased a new stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,456 shares of the industrial products company’s stock, valued at approximately $720,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank raised its stake in shares of Reliance Steel & Aluminum Co. by 267.8% during 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 during the last quarter. Global X Management Co. LLC raised its stake in shares of Reliance Steel & Aluminum Co. by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 1,584 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Reliance Steel & Aluminum Co. by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 382 shares during the last quarter. BB&T Securities LLC raised its stake in shares of Reliance Steel & Aluminum Co. by 25.5% during the second quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 664 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Reliance Steel & Aluminum Co. during the second quarter valued at about $252,000. Institutional investors and hedge funds own 82.40% of the company’s stock.

Several brokerages have recently commented on RS. Jefferies Group LLC reaffirmed a “hold” rating and set a $72.00 price objective on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, July 19th. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. ValuEngine downgraded shares of Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Cowen and Company set a $92.00 price objective on shares of Reliance Steel & Aluminum Co. and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $89.00 price objective (up from $88.00) on shares of Reliance Steel & Aluminum Co. in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Reliance Steel & Aluminum Co. currently has an average rating of “Hold” and a consensus target price of $82.00.

Reliance Steel & Aluminum Co. (RS) opened at $74.20 on Wednesday. Reliance Steel & Aluminum Co. has a one year low of $68.46 and a one year high of $88.58. The stock has a market cap of $5,489.79, a PE ratio of 14.88, a P/E/G ratio of 1.62 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum Co. had a net margin of 3.97% and a return on equity of 8.61%. The company had revenue of $2.45 billion during the quarter. During the same period in the previous year, the company earned $1.25 earnings per share. Reliance Steel & Aluminum Co.’s quarterly revenue was up 12.1% on a year-over-year basis. analysts anticipate that Reliance Steel & Aluminum Co. will post 5.16 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Thursday, November 16th. Reliance Steel & Aluminum Co.’s payout ratio is currently 35.43%.

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Reliance Steel & Aluminum Co. Company 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).

Institutional Ownership by Quarter for Reliance Steel & Aluminum Co. (NYSE:RS)

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