Reliance Steel & Aluminum Co (RS) Holdings Increased by Sterling Capital Management LLC

Sterling Capital Management LLC grew its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 154.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,080 shares of the industrial products company’s stock after acquiring an additional 18,280 shares during the period. Sterling Capital Management LLC’s holdings in Reliance Steel & Aluminum were worth $2,566,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RS. Millennium Management LLC grew its stake in shares of Reliance Steel & Aluminum by 166.3% in the 2nd quarter. Millennium Management LLC now owns 461,240 shares of the industrial products company’s stock valued at $40,377,000 after buying an additional 288,069 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Reliance Steel & Aluminum in the 2nd quarter valued at about $20,471,000. Acadian Asset Management LLC grew its stake in shares of Reliance Steel & Aluminum by 13.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,637,282 shares of the industrial products company’s stock valued at $143,324,000 after buying an additional 196,890 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Reliance Steel & Aluminum in the 2nd quarter valued at about $15,509,000. Finally, First Quadrant L P CA grew its stake in shares of Reliance Steel & Aluminum by 332.3% in the 3rd quarter. First Quadrant L P CA now owns 212,307 shares of the industrial products company’s stock valued at $18,108,000 after buying an additional 163,193 shares during the period. Hedge funds and other institutional investors own 81.25% of the company’s stock.

Several brokerages have recently commented on RS. 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. Jefferies Financial Group upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Tuesday, July 10th. Bank of America downgraded Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 target price for the company. in a research note on Friday, September 7th. 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, Citigroup downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $95.30.

Shares of NYSE RS opened at $82.36 on Wednesday. Reliance Steel & Aluminum Co has a fifty-two week low of $72.69 and a fifty-two week high of $97.41. The stock has a market capitalization of $5.94 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 0.95 and a beta of 1.15. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.69 by ($0.27). Reliance Steel & Aluminum had a net margin of 7.66% and a return on equity of 13.58%. The business had revenue of $2.97 billion during the quarter. As a group, sell-side analysts expect that Reliance Steel & Aluminum Co will post 9.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.00 annualized dividend and a yield of 2.43%. Reliance Steel & Aluminum’s payout ratio is 36.76%.

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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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