15,710 Shares in Reliance Steel & Aluminum Co (RS) Purchased by Algert Global LLC

Algert Global LLC acquired a new position in Reliance Steel & Aluminum Co (NYSE:RS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,710 shares of the industrial products company’s stock, valued at approximately $1,340,000.

Other hedge funds have also recently made changes to their positions in the company. ING Groep NV acquired a new stake in Reliance Steel & Aluminum in the second quarter worth about $970,000. Laurion Capital Management LP increased its position in Reliance Steel & Aluminum by 106.3% in the second quarter. Laurion Capital Management LP now owns 35,633 shares of the industrial products company’s stock worth $3,119,000 after purchasing an additional 18,359 shares during the period. Dimensional Fund Advisors LP increased its position in Reliance Steel & Aluminum by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,581,731 shares of the industrial products company’s stock worth $226,010,000 after purchasing an additional 18,241 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Reliance Steel & Aluminum in the second quarter worth about $937,000. Finally, Vident Investment Advisory LLC increased its position in Reliance Steel & Aluminum by 1.5% in the second quarter. Vident Investment Advisory LLC now owns 38,552 shares of the industrial products company’s stock worth $3,375,000 after purchasing an additional 576 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

In other news, Director David H. Hannah sold 28,080 shares of Reliance Steel & Aluminum stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total transaction of $2,246,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 5,582 shares of Reliance Steel & Aluminum stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $78.98, for a total value of $440,866.36. The disclosure for this sale can be found here. 3.24% of the stock is currently owned by company insiders.

Shares of RS opened at $75.91 on Friday. 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 Co has a 1 year low of $74.65 and a 1 year high of $97.41. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.90 and a beta of 1.16.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, November 15th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 36.76%.

A number of equities analysts have issued reports on the company. Bank of America cut Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 target price on the stock. in a report on Friday, September 7th. KeyCorp reduced their target price on Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, September 10th. Longbow Research cut Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a report on Monday, October 22nd. Macquarie set a $96.00 target price on Reliance Steel & Aluminum and gave the stock a “buy” rating in a report on Friday, October 26th. Finally, Zacks Investment Research cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price 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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