Dimensional Fund Advisors LP Has $226.01 Million Holdings in Reliance Steel & Aluminum Co (RS)

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Dimensional Fund Advisors LP grew its stake in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,581,731 shares of the industrial products company’s stock after acquiring an additional 18,241 shares during the quarter. Dimensional Fund Advisors LP owned about 3.57% of Reliance Steel & Aluminum worth $226,010,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Yorktown Management & Research Co Inc increased its holdings in Reliance Steel & Aluminum by 7.2% in the 2nd quarter. Yorktown Management & Research Co Inc now owns 11,900 shares of the industrial products company’s stock worth $1,042,000 after buying an additional 800 shares during the period. Legal & General Group Plc increased its holdings in Reliance Steel & Aluminum by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 114,089 shares of the industrial products company’s stock worth $9,987,000 after buying an additional 1,069 shares during the period. Chicago Equity Partners LLC acquired a new position in Reliance Steel & Aluminum in the 2nd quarter worth approximately $2,409,000. Janus Henderson Group PLC acquired a new position in Reliance Steel & Aluminum in the 2nd quarter worth approximately $788,000. Finally, BlackRock Inc. increased its holdings in Reliance Steel & Aluminum by 1.7% in the 2nd quarter. BlackRock Inc. now owns 6,880,203 shares of the industrial products company’s stock worth $602,292,000 after buying an additional 115,704 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

In other Reliance Steel & Aluminum news, Director David H. Hannah sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total value of $2,251,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Patrick Shanley sold 4,069 shares of Reliance Steel & Aluminum stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $96.50, for a total value of $392,658.50. Following the transaction, the vice president now owns 27,890 shares in the company, valued at approximately $2,691,385. The disclosure for this sale can be found here. Company insiders own 3.24% of the company’s stock.

Shares of NYSE RS opened at $89.04 on Thursday. The company has a market cap of $6.42 billion, a PE ratio of 16.37, a PEG ratio of 1.00 and a beta of 1.19. Reliance Steel & Aluminum Co has a 12 month low of $70.28 and a 12 month high of $97.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.76 and a current ratio of 4.06.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, July 26th. The industrial products company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.35. The firm had revenue of $2.99 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 12.29% and a net margin of 7.55%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the business earned $1.40 EPS. analysts forecast that Reliance Steel & Aluminum Co will post 9.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Friday, August 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.25%. Reliance Steel & Aluminum’s payout ratio is currently 36.76%.

Several equities analysts recently weighed in on RS shares. ValuEngine downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Jefferies Financial Group raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Tuesday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Finally, KeyCorp raised their price objective on shares of Reliance Steel & Aluminum from $97.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, June 14th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $98.13.

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

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