Schroder Investment Management Group Has $23.08 Million Position in Reliance Steel & Aluminum Co (RS)

Schroder Investment Management Group reduced its stake in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 42.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 262,938 shares of the industrial products company’s stock after selling 192,699 shares during the period. Schroder Investment Management Group owned 0.36% of Reliance Steel & Aluminum worth $23,083,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Vident Investment Advisory LLC grew its holdings in Reliance Steel & Aluminum by 1.5% during the 2nd quarter. Vident Investment Advisory LLC now owns 38,552 shares of the industrial products company’s stock worth $3,375,000 after acquiring an additional 576 shares during the period. Virginia Retirement Systems ET AL grew its holdings in Reliance Steel & Aluminum by 3.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock worth $1,418,000 after acquiring an additional 600 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Reliance Steel & Aluminum by 107.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 750 shares during the period. Yorktown Management & Research Co Inc grew its holdings in Reliance Steel & Aluminum by 7.2% during the 2nd quarter. Yorktown Management & Research Co Inc now owns 11,900 shares of the industrial products company’s stock worth $1,042,000 after acquiring an additional 800 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Reliance Steel & Aluminum by 2.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 28,513 shares of the industrial products company’s stock worth $2,496,000 after acquiring an additional 817 shares during the period. 80.98% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on RS shares. KeyCorp reduced their target price on Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Monday, September 10th. Citigroup downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Deutsche Bank downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and reduced their target price for the company from $100.00 to $90.00 in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Wednesday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Reliance Steel & Aluminum has a consensus rating of “Hold” and an average price target of $95.22.

Shares of RS opened at $81.78 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.06 and a quick ratio of 1.76. The stock has a market capitalization of $6.17 billion, a PE ratio of 15.06, a PEG ratio of 0.96 and a beta of 1.13. Reliance Steel & Aluminum Co has a one year low of $72.69 and a one year high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last issued its earnings results on Thursday, July 26th. The industrial products company reported $3.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $0.35. The company had revenue of $2.99 billion during the quarter. Reliance Steel & Aluminum had a return on equity of 12.29% and a net margin of 7.55%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. On average, sell-side analysts forecast that Reliance Steel & Aluminum Co will post 9.82 earnings per share for the current fiscal year.

In other Reliance Steel & Aluminum news, Director David H. Hannah sold 25,000 shares of Reliance Steel & Aluminum stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total transaction of $2,251,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.24% of the stock is currently owned by insiders.

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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