Reliance Steel & Aluminum Co (RS) Stake Boosted by Cooke & Bieler LP

Cooke & Bieler LP boosted its position in Reliance Steel & Aluminum Co (NYSE:RS) by 48.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,087 shares of the industrial products company’s stock after buying an additional 100,100 shares during the period. Cooke & Bieler LP owned 0.42% of Reliance Steel & Aluminum Co worth $24,653,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RS. Trexquant Investment LP raised its stake in shares of Reliance Steel & Aluminum Co by 87.0% in the first quarter. Trexquant Investment LP now owns 13,835 shares of the industrial products company’s stock worth $1,107,000 after buying an additional 6,435 shares during the period. Pitcairn Co. raised its stake in shares of Reliance Steel & Aluminum Co by 1.3% in the first quarter. Pitcairn Co. now owns 5,022 shares of the industrial products company’s stock worth $402,000 after buying an additional 65 shares during the period. Stevens Capital Management LP purchased a new stake in shares of Reliance Steel & Aluminum Co during the first quarter worth about $341,000. Mutual of America Capital Management LLC raised its stake in shares of Reliance Steel & Aluminum Co by 4.2% in the first quarter. Mutual of America Capital Management LLC now owns 57,793 shares of the industrial products company’s stock worth $4,625,000 after buying an additional 2,342 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Reliance Steel & Aluminum Co by 24.6% in the first quarter. Parametric Portfolio Associates LLC now owns 500,817 shares of the industrial products company’s stock worth $40,075,000 after buying an additional 98,818 shares during the period. 85.49% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Reliance Steel & Aluminum Co (NYSE:RS) traded up 0.88% on Friday, reaching $71.98. 635,924 shares of the company were exchanged. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 16.31 and a beta of 1.32. The company’s 50-day moving average is $76.42 and its 200-day moving average is $79.90. Reliance Steel & Aluminum Co has a 52 week low of $65.10 and a 52 week high of $88.58.

Reliance Steel & Aluminum Co (NYSE:RS) last released its quarterly earnings data on Thursday, April 27th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.10. Reliance Steel & Aluminum Co had a net margin of 3.63% and a return on equity of 8.10%. The company had revenue of $2.42 billion during the quarter. During the same period last year, the company earned $1.03 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that Reliance Steel & Aluminum Co will post $5.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 26th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, May 24th. Reliance Steel & Aluminum Co’s dividend payout ratio (DPR) is presently 39.81%.

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A number of equities research analysts have issued reports on the stock. Barclays PLC reissued a “hold” rating and issued a $59.00 price target on shares of Reliance Steel & Aluminum Co in a report on Monday, May 1st. Jefferies Group LLC reissued a “hold” rating and issued a $77.00 price target (down previously from $80.00) on shares of Reliance Steel & Aluminum Co in a report on Friday, April 28th. Longbow Research initiated coverage on shares of Reliance Steel & Aluminum Co in a research report on Wednesday, April 19th. They issued a “neutral” rating for the company. Macquarie raised shares of Reliance Steel & Aluminum Co from a “neutral” rating to an “outperform” rating in a research report on Tuesday, March 14th. Finally, Zacks Investment Research cut shares of Reliance Steel & Aluminum Co from a “buy” rating to a “hold” rating in a research report on Wednesday, February 22nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $82.75.

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).

12 Month Chart for NYSE:RS

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