Shares of Reliance Steel & Aluminum Co (NYSE:RS) have been assigned an average rating of “Hold” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $91.88.
Several equities research analysts have recently weighed in on RS shares. Cowen reaffirmed an “outperform” rating and issued a $95.00 target price (up previously from $80.00) on shares of Reliance Steel & Aluminum in a report on Tuesday, February 26th. Zacks Investment Research lowered shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Bank of America raised shares of Reliance Steel & Aluminum from an “underperform” rating to a “neutral” rating and set a $84.00 price objective on the stock in a report on Thursday, December 13th. ValuEngine lowered shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Finally, KeyCorp reissued a “buy” rating and set a $90.00 price objective on shares of Reliance Steel & Aluminum in a report on Friday, November 30th.
Get Reliance Steel & Aluminum alerts:Shares of RS traded up $0.01 during trading hours on Friday, hitting $89.26. The stock had a trading volume of 429,715 shares, compared to its average volume of 375,967. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.92 and a current ratio of 4.70. Reliance Steel & Aluminum has a 52 week low of $68.62 and a 52 week high of $97.41. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.27 and a beta of 1.22.
Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Thursday, February 21st. The industrial products company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.63). Reliance Steel & Aluminum had a return on equity of 13.30% and a net margin of 5.49%. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the company posted $1.22 EPS. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reliance Steel & Aluminum will post 8.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.20 dividend on an annualized basis and a yield of 2.46%. This is a positive change from Reliance Steel & Aluminum’s previous quarterly dividend of $0.50. Reliance Steel & Aluminum’s dividend payout ratio is currently 22.37%.
In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 3,025 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $90.63, for a total transaction of $274,155.75. Following the transaction, the senior vice president now directly owns 25,505 shares in the company, valued at approximately $2,311,518.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew G. Sharkey III sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $89.05, for a total transaction of $178,100.00. Following the transaction, the director now owns 6,893 shares in the company, valued at $613,821.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,272 shares of company stock worth $4,773,490. Insiders own 3.24% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its position in Reliance Steel & Aluminum by 7.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,854 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 856 shares during the period. Nordea Investment Management AB lifted its position in Reliance Steel & Aluminum by 7.7% during the 4th quarter. Nordea Investment Management AB now owns 54,603 shares of the industrial products company’s stock valued at $3,885,000 after purchasing an additional 3,893 shares during the period. APG Asset Management N.V. lifted its position in Reliance Steel & Aluminum by 29.7% during the 4th quarter. APG Asset Management N.V. now owns 82,500 shares of the industrial products company’s stock valued at $5,136,000 after purchasing an additional 18,900 shares during the period. Advisory Services Network LLC raised its position in shares of Reliance Steel & Aluminum by 982.9% in the 4th quarter. Advisory Services Network LLC now owns 444 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 403 shares during the period. Finally, HRT Financial LLC acquired a new stake in shares of Reliance Steel & Aluminum in the 4th quarter valued at approximately $254,000. Institutional investors own 80.81% of the company’s stock.
Reliance Steel & Aluminum Company Profile
Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.
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