Reliance Steel & Aluminum Co (RS) Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its position in Reliance Steel & Aluminum Co (NYSE:RS) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 817,087 shares of the industrial products company’s stock after selling 81,223 shares during the quarter. Reliance Steel & Aluminum comprises approximately 0.6% of Royce & Associates LP’s portfolio, making the stock its 27th largest holding. Royce & Associates LP’s holdings in Reliance Steel & Aluminum were worth $73,750,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. ETF Managers Group LLC increased its holdings in shares of Reliance Steel & Aluminum by 8.7% in the first quarter. ETF Managers Group LLC now owns 1,689 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 135 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Reliance Steel & Aluminum by 5.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,899 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 255 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Reliance Steel & Aluminum by 49.1% in the fourth quarter. First Mercantile Trust Co. now owns 790 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 260 shares during the period. Regentatlantic Capital LLC grew its position in Reliance Steel & Aluminum by 1.0% in the fourth quarter. Regentatlantic Capital LLC now owns 27,245 shares of the industrial products company’s stock worth $1,939,000 after acquiring an additional 265 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Reliance Steel & Aluminum by 279.1% in the first quarter. Quadrant Capital Group LLC now owns 436 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 321 shares in the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Gregg J. Mollins sold 9,478 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $90.05, for a total transaction of $853,493.90. Following the completion of the sale, the director now directly owns 1,727,813 shares in the company, valued at $155,589,560.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 3,025 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $90.63, for a total transaction of $274,155.75. Following the sale, the senior vice president now owns 25,505 shares of the company’s stock, valued at $2,311,518.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,570 shares of company stock valued at $10,619,764. Company insiders own 3.43% of the company’s stock.

Several brokerages recently issued reports on RS. Jefferies Financial Group lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and cut their target price for the stock from $105.00 to $100.00 in a research report on Friday, April 26th. Longbow Research lowered shares of Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 target price for the company. in a research report on Thursday, April 18th. Cowen reiterated an “outperform” rating and issued a $95.00 target price (up from $80.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, February 26th. Finally, Citigroup set a $98.00 target price on shares of Reliance Steel & Aluminum and gave the stock a “hold” rating in a research report on Monday, May 20th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $93.20.

NYSE RS traded up $0.12 during trading on Friday, hitting $84.97. 236,300 shares of the company’s stock traded hands, compared to its average volume of 439,681. The company has a quick ratio of 1.85, a current ratio of 4.06 and a debt-to-equity ratio of 0.47. Reliance Steel & Aluminum Co has a 12-month low of $68.62 and a 12-month high of $97.41. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.07 and a beta of 1.26.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.42. Reliance Steel & Aluminum had a net margin of 5.58% and a return on equity of 13.70%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the business posted $2.30 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Reliance Steel & Aluminum Co will post 9.26 earnings per share for the current fiscal year.

The firm also recently declared 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 2.59%. Reliance Steel & Aluminum’s payout ratio is 24.61%.

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Reliance Steel & Aluminum Company 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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