Reliance Steel & Aluminum Co. (RS) Announces Quarterly Dividend of $0.35
Reliance Steel & Aluminum Co. (NYSE:RS) declared a quarterly dividend on Thursday, February 20th, American Banking News.com reports. Investors of record on Thursday, March 6th will be given a dividend of 0.35 per share on Friday, March 21st. This represents a $1.40 dividend on an annualized basis and a yield of 1.93%.
On a related note, analysts at Bank of America upgraded shares of Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. They now have a $77.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $75.88.
Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down 1.56% during mid-day trading on Thursday, hitting $71.25. The stock had a trading volume of 217,505 shares. Reliance Steel & Aluminum Co. has a 1-year low of $59.44 and a 1-year high of $76.78. The stock has a 50-day moving average of $72.65 and a 200-day moving average of $72.64. The company has a market cap of $5.511 billion and a price-to-earnings ratio of 16.44.
Reliance Steel & Aluminum Co. (NYSE:RS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.92 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.98 by $0.06. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.36 billion. On average, analysts predict that Reliance Steel & Aluminum Co. will post $4.36 earnings per share for the current fiscal year.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
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