Reliance Steel & Aluminum Co (RS) Stake Raised by Stevens Capital Management LP

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Stevens Capital Management LP grew its position in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 66.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,544 shares of the industrial products company’s stock after buying an additional 4,596 shares during the quarter. Stevens Capital Management LP’s holdings in Reliance Steel & Aluminum were worth $1,011,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its holdings in Reliance Steel & Aluminum by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 22,630 shares of the industrial products company’s stock worth $1,940,000 after purchasing an additional 580 shares during the last quarter. Boston Private Wealth LLC boosted its holdings in Reliance Steel & Aluminum by 7.4% in the first quarter. Boston Private Wealth LLC now owns 8,513 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 583 shares during the last quarter. Virginia Retirement Systems ET AL boosted its holdings in Reliance Steel & Aluminum by 3.8% in the second quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock worth $1,418,000 after purchasing an additional 600 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in Reliance Steel & Aluminum by 1.8% in the first quarter. Mason Street Advisors LLC now owns 36,580 shares of the industrial products company’s stock worth $3,136,000 after purchasing an additional 657 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Reliance Steel & Aluminum by 2.4% in the first quarter. American Century Companies Inc. now owns 31,780 shares of the industrial products company’s stock worth $2,725,000 after purchasing an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Several research analysts have recently weighed in on the stock. KeyCorp lifted their price target 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. ValuEngine upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. JPMorgan Chase & Co. lifted their price target 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, Jefferies Financial Group upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Tuesday, July 10th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $98.13.

In other news, VP Michael Patrick Shanley sold 4,069 shares of the firm’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $96.50, for a total transaction of $392,658.50. Following the sale, the vice president now directly owns 27,890 shares in the company, valued at approximately $2,691,385. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David H. Hannah sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $90.04, for a total transaction of $2,251,000.00. The disclosure for this sale can be found here. 3.24% of the stock is owned by company insiders.

Shares of Reliance Steel & Aluminum stock opened at $89.04 on Thursday. The firm has a market cap of $6.42 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19. Reliance Steel & Aluminum Co has a 1-year low of $70.28 and a 1-year 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 issued its quarterly earnings results on Thursday, July 26th. The industrial products company reported $3.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.35. The business had revenue of $2.99 billion for the quarter. Reliance Steel & Aluminum had a net margin of 7.55% and a return on equity of 12.29%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 EPS. equities analysts expect 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. Stockholders of record on Friday, August 17th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, August 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. Reliance Steel & Aluminum’s payout ratio is 36.76%.

About Reliance Steel & Aluminum

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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