Alberta Investment Management Corp Boosts Stock Holdings in Reliance Steel & Aluminum Co (NYSE:RS)

Alberta Investment Management Corp boosted its position in Reliance Steel & Aluminum Co (NYSE:RS) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,000 shares of the industrial products company’s stock after purchasing an additional 1,300 shares during the period. Alberta Investment Management Corp’s holdings in Reliance Steel & Aluminum were worth $7,425,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RS. FMR LLC lifted its stake in Reliance Steel & Aluminum by 249.2% in the first quarter. FMR LLC now owns 227,173 shares of the industrial products company’s stock valued at $20,504,000 after purchasing an additional 162,118 shares during the last quarter. Voya Investment Management LLC raised its holdings in Reliance Steel & Aluminum by 144.6% during the 3rd quarter. Voya Investment Management LLC now owns 137,838 shares of the industrial products company’s stock valued at $13,738,000 after acquiring an additional 81,496 shares during the period. Virtu Financial LLC raised its holdings in Reliance Steel & Aluminum by 61.0% during the 3rd quarter. Virtu Financial LLC now owns 3,617 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 1,370 shares during the period. Redwood Investment Management LLC raised its holdings in Reliance Steel & Aluminum by 36.3% during the 3rd quarter. Redwood Investment Management LLC now owns 9,408 shares of the industrial products company’s stock valued at $938,000 after acquiring an additional 2,508 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in Reliance Steel & Aluminum by 17.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 310,609 shares of the industrial products company’s stock valued at $30,955,000 after acquiring an additional 45,163 shares during the period. Institutional investors and hedge funds own 83.76% of the company’s stock.

A number of brokerages have issued reports on RS. ValuEngine raised shares of Reliance Steel & Aluminum from a “sell” rating to a “hold” rating in a report on Friday, March 13th. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating and set a $128.00 target price on the stock. in a report on Wednesday, January 15th. Cowen cut shares of Reliance Steel & Aluminum from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $123.00 to $122.00 in a report on Tuesday, January 21st. They noted that the move was a valuation call. Finally, KeyCorp lowered their target price on shares of Reliance Steel & Aluminum from $121.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Reliance Steel & Aluminum presently has a consensus rating of “Hold” and a consensus price target of $107.70.

In other news, CFO Karla R. Lewis sold 18,954 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $107.26, for a total value of $2,033,006.04. Following the transaction, the chief financial officer now owns 105,430 shares of the company’s stock, valued at $11,308,421.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.43% of the company’s stock.

Reliance Steel & Aluminum stock opened at $82.81 on Wednesday. The stock has a market cap of $5.40 billion, a P/E ratio of 8.02, a PEG ratio of 1.05 and a beta of 1.27. Reliance Steel & Aluminum Co has a fifty-two week low of $70.57 and a fifty-two week high of $122.17. The firm’s fifty day moving average price is $102.39 and its 200-day moving average price is $109.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.02 and a current ratio of 4.46.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.71. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Reliance Steel & Aluminum had a net margin of 6.39% and a return on equity of 13.98%. The business’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Sell-side analysts predict that Reliance Steel & Aluminum Co will post 7.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.625 dividend. The ex-dividend date is Thursday, March 12th. This represents a $2.50 annualized dividend and a dividend yield of 3.02%. This is a boost from Reliance Steel & Aluminum’s previous quarterly dividend of $0.55. Reliance Steel & Aluminum’s dividend payout ratio is presently 24.18%.

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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