Reliance Steel & Aluminum Co (RS) Stake Lessened by Crossmark Global Holdings Inc.

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Crossmark Global Holdings Inc. decreased its holdings in Reliance Steel & Aluminum Co (NYSE:RS) by 17.6% during the 4th quarter, Holdings Channel reports. The firm owned 8,356 shares of the industrial products company’s stock after selling 1,780 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Reliance Steel & Aluminum were worth $595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kepos Capital LP bought a new position in shares of Reliance Steel & Aluminum in the 3rd quarter valued at $5,410,000. Epoch Investment Partners Inc. increased its stake in shares of Reliance Steel & Aluminum by 5.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 449,743 shares of the industrial products company’s stock valued at $38,358,000 after purchasing an additional 21,607 shares during the last quarter. KBC Group NV increased its stake in shares of Reliance Steel & Aluminum by 27.1% in the 4th quarter. KBC Group NV now owns 92,337 shares of the industrial products company’s stock valued at $6,572,000 after purchasing an additional 19,688 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Reliance Steel & Aluminum by 154.9% in the 3rd quarter. Sterling Capital Management LLC now owns 30,080 shares of the industrial products company’s stock valued at $2,566,000 after purchasing an additional 18,280 shares during the last quarter. Finally, Artemis Investment Management LLP increased its stake in shares of Reliance Steel & Aluminum by 12.0% in the 3rd quarter. Artemis Investment Management LLP now owns 788,075 shares of the industrial products company’s stock valued at $67,219,000 after purchasing an additional 84,185 shares during the last quarter. Institutional investors own 85.64% of the company’s stock.

In related news, Director David H. Hannah sold 28,080 shares of the business’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total transaction of $2,246,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP William A. Smith II sold 5,582 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $78.98, for a total value of $440,866.36. The disclosure for this sale can be found here. Insiders own 3.24% of the company’s stock.

RS has been the topic of several recent analyst reports. KeyCorp reiterated a “buy” rating and issued a $90.00 price target on shares of Reliance Steel & Aluminum in a research note on Friday, November 30th. Cowen initiated coverage on Reliance Steel & Aluminum in a research note on Tuesday, January 8th. They issued an “outperform” rating and a $80.00 price target on the stock. Zacks Investment Research lowered Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Longbow Research lowered Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a research note on Monday, October 22nd. Finally, ValuEngine lowered Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $90.80.

Shares of RS stock opened at $84.18 on Thursday. The firm has a market cap of $5.78 billion, a P/E ratio of 15.47, a PEG ratio of 1.17 and a beta of 1.22. Reliance Steel & Aluminum Co has a twelve month low of $68.62 and a twelve month high of $97.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 4.40.

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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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