FIL Ltd Has $3.79 Million Holdings in Reliance Steel & Aluminum Co (RS)

FIL Ltd cut its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 15.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,398 shares of the industrial products company’s stock after selling 7,812 shares during the quarter. FIL Ltd owned approximately 0.06% of Reliance Steel & Aluminum worth $3,787,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vident Investment Advisory LLC lifted its position 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 buying an additional 576 shares in the last quarter. Virginia Retirement Systems ET AL raised its holdings in shares of Reliance Steel & Aluminum by 3.8% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock valued at $1,418,000 after purchasing an additional 600 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Reliance Steel & Aluminum by 107.9% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 750 shares during the period. Alpha Windward LLC raised its holdings in shares of Reliance Steel & Aluminum by 13.7% in the 3rd quarter. Alpha Windward LLC now owns 6,476 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 780 shares during the period. Finally, Yorktown Management & Research Co Inc raised its holdings in Reliance Steel & Aluminum by 7.2% in the 2nd quarter. Yorktown Management & Research Co Inc now owns 11,900 shares of the industrial products company’s stock valued at $1,042,000 after acquiring an additional 800 shares during the period. 84.71% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP William A. Smith II sold 5,582 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $78.98, for a total transaction of $440,866.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David H. Hannah sold 28,080 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $2,246,400.00. The disclosure for this sale can be found here. Company insiders own 3.24% of the company’s stock.

NYSE RS opened at $80.45 on Monday. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39. The company has a market cap of $5.67 billion, a P/E ratio of 14.79, a PEG ratio of 0.93 and a beta of 1.15. Reliance Steel & Aluminum Co has a 1 year low of $74.65 and a 1 year high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.69 by ($0.27). The firm had revenue of $2.97 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 13.58% and a net margin of 7.66%. Equities analysts expect that Reliance Steel & Aluminum Co will post 9.64 EPS for the current year.

The company 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.49%. Reliance Steel & Aluminum’s dividend payout ratio is 36.76%.

RS has been the topic of several research analyst reports. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Monday, September 3rd. Bank of America cut shares of Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 price target on the stock. in a report on Friday, September 7th. KeyCorp lowered their price target on shares of Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, September 10th. Citigroup initiated coverage on shares of Reliance Steel & Aluminum in a report on Monday, September 17th. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, Deutsche Bank cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and lowered their price target for the company from $100.00 to $90.00 in a report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Reliance Steel & Aluminum has an average rating of “Hold” and an average price target of $94.60.

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Reliance Steel & Aluminum 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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