Reliance Steel & Aluminum Co (RS) is Victory Capital Management Inc.’s 4th Largest Position

Victory Capital Management Inc. raised its position in Reliance Steel & Aluminum Co (NYSE:RS) by 23.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,001,940 shares of the industrial products company’s stock after acquiring an additional 768,834 shares during the period. Reliance Steel & Aluminum comprises 0.7% of Victory Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Victory Capital Management Inc. owned about 5.68% of Reliance Steel & Aluminum worth $284,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RS. First Mercantile Trust Co. grew its position in Reliance Steel & Aluminum by 49.1% in the 4th quarter. First Mercantile Trust Co. now owns 790 shares of the industrial products company’s stock valued at $56,000 after buying an additional 260 shares in the last quarter. Bell Rock Capital LLC lifted its position in Reliance Steel & Aluminum by 70.5% in the fourth quarter. Bell Rock Capital LLC now owns 856 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 354 shares during the period. Huntington National Bank lifted its position in Reliance Steel & Aluminum by 354.2% in the fourth quarter. Huntington National Bank now owns 1,199 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 935 shares during the period. ETF Managers Group LLC lifted its position in Reliance Steel & Aluminum by 18.4% in the fourth quarter. ETF Managers Group LLC now owns 1,554 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 241 shares during the period. Finally, Twin Tree Management LP bought a new position in Reliance Steel & Aluminum in the third quarter worth $174,000. Hedge funds and other institutional investors own 85.64% of the company’s stock.

In other news, Director David H. Hannah sold 28,080 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total value of $2,246,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 5,582 shares of the firm’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 disclosure for this sale can be found here. Company insiders own 3.24% of the company’s stock.

Several research analysts recently commented on the company. Zacks Investment Research cut Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Bank of America raised Reliance Steel & Aluminum from an “underperform” rating to a “neutral” rating and set a $84.00 target price for the company in a research report on Thursday, December 13th. ValuEngine cut Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. KeyCorp reaffirmed a “buy” rating and issued a $90.00 target price on shares of Reliance Steel & Aluminum in a research report on Friday, November 30th. Finally, Cowen assumed coverage on Reliance Steel & Aluminum in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $80.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $90.80.

Shares of NYSE RS traded up $1.39 during midday trading on Tuesday, reaching $83.58. 53,062 shares of the company traded hands, compared to its average volume of 387,129. The stock has a market cap of $5.78 billion, a PE ratio of 15.36, a PEG ratio of 1.17 and a beta of 1.22. Reliance Steel & Aluminum Co has a 12 month low of $68.62 and a 12 month high of $97.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 4.40.

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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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