Media stories about Reliance Steel & Aluminum (NYSE:RS) have been trending somewhat positive this week, Accern Sentiment reports. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Reliance Steel & Aluminum earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news headlines about the industrial products company an impact score of 46.4507647566779 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Shares of Reliance Steel & Aluminum stock opened at $87.69 on Friday. Reliance Steel & Aluminum has a one year low of $70.28 and a one year high of $97.41. The stock has a market cap of $6.42 billion, a PE ratio of 16.12, a P/E/G ratio of 1.00 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.06 and a quick ratio of 1.76.
Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, July 26th. The industrial products company reported $3.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.35. Reliance Steel & Aluminum had a return on equity of 12.29% and a net margin of 7.55%. The business had revenue of $2.99 billion during the quarter. During the same period in the prior year, the firm posted $1.40 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. sell-side analysts predict that Reliance Steel & Aluminum will post 9.85 earnings per share for the current year.
The business 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, August 16th. Reliance Steel & Aluminum’s dividend payout ratio is presently 36.76%.
A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted 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. 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. ValuEngine lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. Finally, KeyCorp boosted 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Reliance Steel & Aluminum currently has a consensus rating of “Buy” and a consensus target price of $98.13.
In related news, Director David H. Hannah sold 25,000 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Patrick Shanley sold 4,069 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $96.50, for a total value of $392,658.50. Following the completion of the transaction, the vice president now directly owns 27,890 shares of the company’s stock, valued at $2,691,385. The disclosure for this sale can be found here. Insiders own 3.24% of the company’s stock.
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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