Shares of Reliance Steel & Aluminum Co. (NYSE:RS) have been given a consensus recommendation of “Buy” by the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $80.25.

A number of analysts have issued reports on RS shares. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Macquarie started coverage on Reliance Steel & Aluminum Co. in a research note on Wednesday, September 6th. They issued an “outperform” rating for the company. Cowen and Company reaffirmed a “buy” rating and issued a $92.00 target price on shares of Reliance Steel & Aluminum Co. in a research note on Friday, September 1st. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $89.00 target price (up from $88.00) on shares of Reliance Steel & Aluminum Co. in a research note on Tuesday, September 5th.

Several large investors have recently modified their holdings of RS. Global X Management Co. LLC increased its position in shares of Reliance Steel & Aluminum Co. by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 1,584 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Reliance Steel & Aluminum Co. by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 382 shares during the last quarter. BB&T Securities LLC increased its position in shares of Reliance Steel & Aluminum Co. by 25.5% during the 2nd quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 664 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Reliance Steel & Aluminum Co. during the 1st quarter worth about $248,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Reliance Steel & Aluminum Co. during the 2nd quarter worth about $252,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

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Reliance Steel & Aluminum Co. (RS) traded up 0.03% on Friday, reaching $72.45. 862,823 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $72.06 and a 200-day moving average price of $75.18. Reliance Steel & Aluminum Co. has a 52 week low of $65.10 and a 52 week high of $88.58. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 16.34 and a beta of 1.23.

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.45). Reliance Steel & Aluminum Co. had a return on equity of 8.67% and a net margin of 3.57%. On average, analysts predict that Reliance Steel & Aluminum Co. will post $5.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Wednesday, August 16th. Reliance Steel & Aluminum Co.’s payout ratio is 40.54%.

About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

Analyst Recommendations for Reliance Steel & Aluminum Co. (NYSE:RS)

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