Posted by admin on Jun 24th, 2022
Diversified Trust Co acquired a new position in shares of Reliance Steel & Aluminum Co. (NYSE:RS – Get Rating) during the 1st quarter, Holdings Channel reports. The firm acquired 1,971 shares of the industrial products company’s stock, valued at approximately $361,000.
A number of other hedge funds have also recently bought and sold shares of RS. LPL Financial LLC increased its position in Reliance Steel & Aluminum by 2.6% during the 3rd quarter. LPL Financial LLC now owns 13,705 shares of the industrial products company’s stock worth $1,956,000 after buying an additional 348 shares during the period. Thrivent Financial for Lutherans increased its position in Reliance Steel & Aluminum by 103.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 45,371 shares of the industrial products company’s stock worth $6,461,000 after buying an additional 23,043 shares during the period. Janus Henderson Group PLC increased its position in Reliance Steel & Aluminum by 8.1% during the 3rd quarter. Janus Henderson Group PLC now owns 82,345 shares of the industrial products company’s stock worth $11,727,000 after buying an additional 6,182 shares during the period. Cetera Advisor Networks LLC bought a new position in Reliance Steel & Aluminum during the 3rd quarter worth $617,000. Finally, Cetera Investment Advisers grew its holdings in shares of Reliance Steel & Aluminum by 7.3% during the 3rd quarter. Cetera Investment Advisers now owns 1,502 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 81.84% of the company’s stock.
In other Reliance Steel & Aluminum news, VP Jeffrey Wayne Durham sold 10,000 shares of the stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $196.06, for a total value of $1,960,600.00. Following the completion of the transaction, the vice president now directly owns 19,071 shares in the company, valued at $3,739,060.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by company insiders.
NYSE:RS opened at $163.47 on Friday. The stock’s 50-day simple moving average is $189.10 and its 200 day simple moving average is $177.46. The firm has a market capitalization of $10.13 billion, a PE ratio of 6.24 and a beta of 0.76. The company has a quick ratio of 2.28, a current ratio of 3.96 and a debt-to-equity ratio of 0.25. Reliance Steel & Aluminum Co. has a twelve month low of $135.46 and a twelve month high of $211.65.
Reliance Steel & Aluminum (NYSE:RS – Get Rating) last posted its earnings results on Thursday, April 28th. The industrial products company reported $8.42 EPS for the quarter, beating the consensus estimate of $7.20 by $1.22. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.03 billion. Reliance Steel & Aluminum had a return on equity of 27.94% and a net margin of 10.61%. The business’s quarterly revenue was up 58.0% on a year-over-year basis. During the same period last year, the company earned $4.10 earnings per share. On average, analysts anticipate that Reliance Steel & Aluminum Co. will post 27.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 27th were given a $0.875 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $3.50 annualized dividend and a yield of 2.14%. Reliance Steel & Aluminum’s dividend payout ratio is presently 13.36%.
Several analysts have recently issued reports on RS shares. Wolfe Research raised Reliance Steel & Aluminum from a “market perform” rating to an “outperform” rating and set a $226.00 target price on the stock in a report on Thursday, April 28th. KeyCorp increased their target price on Reliance Steel & Aluminum from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. The Goldman Sachs Group reduced their target price on Reliance Steel & Aluminum from $244.00 to $234.00 in a report on Tuesday, May 31st. Exane BNP Paribas raised Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a report on Thursday, April 14th. Finally, StockNews.com raised Reliance Steel & Aluminum from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 28th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Reliance Steel & Aluminum has a consensus rating of “Buy” and a consensus target price of $207.50.
Reliance Steel & Aluminum Company Profile (Get Rating)
Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.
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