Eaton Vance Management Has $5.42 Million Stake in Reliance Steel & Aluminum Co (RS)

Eaton Vance Management reduced its position in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 43.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,491 shares of the industrial products company’s stock after selling 49,319 shares during the period. Eaton Vance Management owned approximately 0.09% of Reliance Steel & Aluminum worth $5,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RS. Moneta Group Investment Advisors LLC raised its position in Reliance Steel & Aluminum by 107.9% during the second 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 in the last quarter. Twin Tree Management LP acquired a new position in Reliance Steel & Aluminum during the third quarter valued at approximately $174,000. Itau Unibanco Holding S.A. raised its position in Reliance Steel & Aluminum by 130.1% during the second quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 1,352 shares in the last quarter. Balasa Dinverno & Foltz LLC acquired a new position in shares of Reliance Steel & Aluminum during the third quarter worth $209,000. Finally, Private Advisor Group LLC acquired a new position in shares of Reliance Steel & Aluminum during the third quarter worth $231,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Shares of Reliance Steel & Aluminum stock 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 twelve month low of $74.65 and a twelve month high of $97.41. The firm has a market capitalization of $5.50 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings data on Thursday, October 25th. The industrial products company reported $2.42 earnings per share for the quarter, missing the 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 business had revenue of $2.97 billion during the quarter. As a group, sell-side analysts predict that Reliance Steel & Aluminum Co will post 9.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 16th were paid a $0.50 dividend. The ex-dividend date was Thursday, November 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.63%. Reliance Steel & Aluminum’s dividend payout ratio is 36.76%.

In related news, SVP William A. Smith II sold 5,582 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $78.98, for a total value of $440,866.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David H. Hannah sold 28,080 shares of the business’s stock in a transaction on Wednesday, November 21st. The stock was 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. Insiders own 3.24% of the company’s stock.

Several research analysts have recently issued reports on the stock. KeyCorp reiterated a “buy” rating and set a $90.00 price target on shares of Reliance Steel & Aluminum in a report on Friday, November 30th. ValuEngine downgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Macquarie set a $96.00 price target on shares of Reliance Steel & Aluminum and gave the stock a “buy” rating in a report on Friday, October 26th. Longbow Research downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a report on Monday, October 22nd. Finally, Citigroup downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum presently has an average rating of “Hold” and a consensus target price of $94.60.

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About Reliance Steel & Aluminum

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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