Daiwa Securities Group Inc. Purchases Shares of 38,200 Reliance Steel & Aluminum Co (NYSE:RS)

Daiwa Securities Group Inc. purchased a new stake in shares of Reliance Steel & Aluminum Co (NYSE:RS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 38,200 shares of the industrial products company’s stock, valued at approximately $3,807,000. Daiwa Securities Group Inc. owned approximately 0.06% of Reliance Steel & Aluminum at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RS. Steward Partners Investment Advisory LLC boosted its holdings in Reliance Steel & Aluminum by 2.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 3,871 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 85 shares during the last quarter. World Asset Management Inc boosted its holdings in Reliance Steel & Aluminum by 2.2% during the 3rd quarter. World Asset Management Inc now owns 5,380 shares of the industrial products company’s stock worth $536,000 after acquiring an additional 116 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in Reliance Steel & Aluminum by 5.6% during the 2nd quarter. Zions Bancorporation N.A. now owns 2,450 shares of the industrial products company’s stock worth $232,000 after acquiring an additional 130 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Reliance Steel & Aluminum by 1.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,400 shares of the industrial products company’s stock worth $1,173,000 after acquiring an additional 130 shares during the last quarter. Finally, Zebra Capital Management LLC boosted its holdings in Reliance Steel & Aluminum by 2.3% during the 2nd quarter. Zebra Capital Management LLC now owns 6,467 shares of the industrial products company’s stock worth $612,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.

Shares of NYSE:RS opened at $117.34 on Friday. The company’s 50-day moving average is $105.28 and its 200 day moving average is $96.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.90 and a current ratio of 4.01. The company has a market capitalization of $7.83 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.37 and a beta of 1.34. Reliance Steel & Aluminum Co has a fifty-two week low of $68.62 and a fifty-two week high of $120.85.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.44. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. Reliance Steel & Aluminum had a net margin of 5.48% and a return on equity of 12.52%. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 EPS. As a group, research analysts predict that Reliance Steel & Aluminum Co will post 9.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, November 14th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 24.61%.

A number of equities analysts have issued reports on RS shares. Bank of America set a $115.00 price objective on shares of Reliance Steel & Aluminum and gave the stock a “hold” rating in a report on Friday, October 25th. Cowen reaffirmed an “outperform” rating and set a $123.00 price objective (up from $107.00) on shares of Reliance Steel & Aluminum in a report on Tuesday, October 29th. ValuEngine raised shares of Reliance Steel & Aluminum from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Deutsche Bank downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $105.00 to $110.00 in a report on Wednesday, October 30th. Finally, KeyCorp lifted their price objective on shares of Reliance Steel & Aluminum from $107.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Reliance Steel & Aluminum currently has an average rating of “Hold” and a consensus target price of $105.00.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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Institutional Ownership by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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