Livforsakringsbolaget Skandia Omsesidigt Buys 1,920 Shares of Reliance Steel & Aluminum Co. (NYSE:RS)

Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS – Get Rating) by 29.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,470 shares of the industrial products company’s stock after acquiring an additional 1,920 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Reliance Steel & Aluminum were worth $1,439,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Worth Asset Management LLC bought a new position in shares of Reliance Steel & Aluminum during the first quarter valued at $28,000. Penserra Capital Management LLC bought a new stake in Reliance Steel & Aluminum in the 1st quarter worth about $46,000. Rational Advisors LLC increased its holdings in Reliance Steel & Aluminum by 50.6% in the 1st quarter. Rational Advisors LLC now owns 256 shares of the industrial products company’s stock worth $47,000 after buying an additional 86 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in Reliance Steel & Aluminum by 206.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 306 shares of the industrial products company’s stock worth $52,000 after buying an additional 206 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Reliance Steel & Aluminum by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 438 shares of the industrial products company’s stock worth $75,000 after buying an additional 122 shares in the last quarter. 83.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RS. StockNews.com downgraded Reliance Steel & Aluminum from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 6th. The Goldman Sachs Group cut Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $218.00 to $201.00 in a research report on Thursday, October 6th. KeyCorp raised their target price on Reliance Steel & Aluminum from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 22nd. Finally, BMO Capital Markets began coverage on Reliance Steel & Aluminum in a research report on Monday, August 15th. They issued an “outperform” rating and a $230.00 target price on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $222.40.

Insider Activity

In other news, President Karla R. Lewis sold 9,178 shares of Reliance Steel & Aluminum stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $213.69, for a total transaction of $1,961,246.82. Following the transaction, the president now directly owns 77,832 shares of the company’s stock, valued at approximately $16,631,920.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO James Donald Hoffman sold 10,000 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $183.31, for a total transaction of $1,833,100.00. Following the sale, the chief executive officer now owns 132,738 shares of the company’s stock, valued at approximately $24,332,202.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Karla R. Lewis sold 9,178 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $213.69, for a total value of $1,961,246.82. Following the sale, the president now directly owns 77,832 shares in the company, valued at approximately $16,631,920.08. The disclosure for this sale can be found here. Insiders have sold a total of 25,747 shares of company stock valued at $5,198,208 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Reliance Steel & Aluminum Stock Up 0.2 %

RS stock opened at $209.05 on Friday. Reliance Steel & Aluminum Co. has a twelve month low of $145.79 and a twelve month high of $216.76. The company has a quick ratio of 1.78, a current ratio of 3.25 and a debt-to-equity ratio of 0.17. The stock has a market cap of $12.27 billion, a P/E ratio of 6.84 and a beta of 0.87. The business’s 50-day moving average price is $197.59 and its 200-day moving average price is $188.36.

Reliance Steel & Aluminum (NYSE:RS – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The industrial products company reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.20 by $0.28. Reliance Steel & Aluminum had a return on equity of 29.31% and a net margin of 10.98%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the firm earned $6.15 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that Reliance Steel & Aluminum Co. will post 28.71 EPS for the current year.

Reliance Steel & Aluminum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 18th were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.67%. Reliance Steel & Aluminum’s payout ratio is currently 11.45%.

About Reliance Steel & Aluminum

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Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.