Reliance Steel & Aluminum Co. (RS) Position Increased by Vident Investment Advisory LLC

Vident Investment Advisory LLC increased its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,574 shares of the industrial products company’s stock after buying an additional 2,524 shares during the period. Vident Investment Advisory LLC’s holdings in Reliance Steel & Aluminum Co. were worth $2,607,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in RS. CrestPoint Capital Management LLC bought a new stake in shares of Reliance Steel & Aluminum Co. during the first quarter valued at about $208,000. Private Advisor Group LLC acquired a new stake in shares of Reliance Steel & Aluminum Co. during the fourth quarter valued at $218,000. Cigna Investments Inc. New acquired a new stake in shares of Reliance Steel & Aluminum Co. during the fourth quarter valued at $210,000. Mckinley Capital Management LLC Delaware boosted its stake in shares of Reliance Steel & Aluminum Co. by 12.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 3,521 shares of the industrial products company’s stock valued at $282,000 after buying an additional 401 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Reliance Steel & Aluminum Co. during the fourth quarter valued at $288,000. Institutional investors own 83.68% of the company’s stock.

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

Reliance Steel & Aluminum Co. (NYSE:RS) traded up 0.92% during midday trading on Friday, hitting $72.44. 949,221 shares of the company were exchanged. Reliance Steel & Aluminum Co. has a 1-year low of $65.10 and a 1-year high of $88.58. The stock has a 50 day moving average of $74.08 and a 200 day moving average of $79.64. The firm has a market capitalization of $5.28 billion, a PE ratio of 16.42 and a beta of 1.25.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings results on Thursday, April 27th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.10. Reliance Steel & Aluminum Co. had a net margin of 3.65% and a return on equity of 8.71%. The company had revenue of $2.42 billion for the quarter. During the same period in the previous year, the company earned $1.03 EPS. Reliance Steel & Aluminum Co.’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Reliance Steel & Aluminum Co. will post $5.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, May 26th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Wednesday, May 24th. Reliance Steel & Aluminum Co.’s dividend payout ratio is currently 40.72%.

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Several analysts recently weighed in on RS shares. Macquarie raised shares of Reliance Steel & Aluminum Co. from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 14th. Longbow Research assumed coverage on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, April 19th. They issued a “neutral” rating on the stock. Jefferies Group LLC restated a “hold” rating and issued a $77.00 target price (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a report on Friday, April 28th. Bank of America Corporation upgraded shares of Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, May 23rd. They noted that the move was a valuation call. Finally, Barclays PLC restated a “hold” rating and issued a $59.00 target price on shares of Reliance Steel & Aluminum Co. in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Reliance Steel & Aluminum Co. currently has a consensus rating of “Hold” and a consensus target price of $83.25.

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).

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