Reliance Steel & Aluminum Co. (NYSE:RS) – Stock analysts at KeyCorp reduced their FY2017 earnings estimates for Reliance Steel & Aluminum in a research note issued on Thursday. KeyCorp analyst P. Gibbs now expects that the industrial products company will post earnings per share of $5.25 for the year, down from their previous estimate of $5.30. KeyCorp currently has a “Buy” rating and a $95.00 target price on the stock. KeyCorp also issued estimates for Reliance Steel & Aluminum’s FY2018 earnings at $7.15 EPS.

Reliance Steel & Aluminum (NYSE:RS) last issued its earnings results on Thursday, October 26th. The industrial products company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. The company had revenue of $2.45 billion during the quarter. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis.

RS has been the subject of a number of other reports. Zacks Investment Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Cowen restated a “buy” rating and issued a $92.00 target price on shares of Reliance Steel & Aluminum in a research note on Wednesday, October 4th. Jefferies Group restated a “hold” rating and issued a $72.00 target price on shares of Reliance Steel & Aluminum in a research note on Friday, October 6th. ValuEngine upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Bank of America set a $97.00 target price on Reliance Steel & Aluminum and gave the company a “buy” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $83.50.

Reliance Steel & Aluminum (RS) opened at $90.45 on Monday. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. Reliance Steel & Aluminum has a 52 week low of $68.46 and a 52 week high of $91.24. The company has a market capitalization of $6,595.16, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29.

Hedge funds and other institutional investors have recently modified their holdings of the company. Crow Point Partners LLC bought a new stake in Reliance Steel & Aluminum during the fourth quarter worth approximately $291,000. Prudential Financial Inc. raised its holdings in Reliance Steel & Aluminum by 2.6% during the third quarter. Prudential Financial Inc. now owns 771,216 shares of the industrial products company’s stock worth $58,744,000 after purchasing an additional 19,560 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Reliance Steel & Aluminum by 633.3% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 2,204 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Reliance Steel & Aluminum by 19.6% during the third quarter. Public Employees Retirement System of Ohio now owns 168,616 shares of the industrial products company’s stock worth $12,843,000 after purchasing an additional 27,681 shares in the last quarter. Finally, Hahn Capital Management LLC raised its holdings in Reliance Steel & Aluminum by 1.0% during the third quarter. Hahn Capital Management LLC now owns 327,036 shares of the industrial products company’s stock worth $24,910,000 after purchasing an additional 3,118 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

In other news, SVP William A. Smith II sold 1,123 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $82.69, for a total transaction of $92,860.87. Following the completion of the transaction, the senior vice president now directly owns 15,320 shares in the company, valued at $1,266,810.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.73% of the company’s stock.

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About Reliance Steel & Aluminum

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).

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