Reliance Steel & Aluminum Co. (NYSE:RS) has received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $76.88.

Several equities analysts have commented on RS shares. Clarkson Capital upgraded Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 18th. Deutsche Bank AG upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $75.00 to $74.00 in a research report on Wednesday, November 9th. Zacks Investment Research upgraded Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research report on Thursday, October 27th. Jefferies Group restated a “hold” rating and set a $70.00 price objective (down from $72.00) on shares of Reliance Steel & Aluminum Co. in a research report on Monday, October 24th. Finally, TheStreet downgraded Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a research report on Thursday, October 20th.

In other Reliance Steel & Aluminum Co. news, Director Douglas M. Hayes sold 3,383 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $73.43, for a total value of $248,413.69. Following the completion of the sale, the director now owns 4,709 shares of the company’s stock, valued at $345,781.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.73% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Retirement Systems of Alabama boosted its stake in shares of Reliance Steel & Aluminum Co. by 0.3% in the second quarter. Retirement Systems of Alabama now owns 209,626 shares of the company’s stock worth $16,120,000 after buying an additional 640 shares during the period. HBK Investments L P purchased a new stake in shares of Reliance Steel & Aluminum Co. during the first quarter worth approximately $491,000. Geode Capital Management LLC boosted its stake in shares of Reliance Steel & Aluminum Co. by 30.4% in the first quarter. Geode Capital Management LLC now owns 653,230 shares of the company’s stock worth $45,196,000 after buying an additional 152,134 shares during the period. American Century Companies Inc. boosted its stake in shares of Reliance Steel & Aluminum Co. by 136.7% in the second quarter. American Century Companies Inc. now owns 49,063 shares of the company’s stock worth $3,773,000 after buying an additional 28,339 shares during the period. Finally, Gareth Morgan Investments Limited Partnership purchased a new stake in shares of Reliance Steel & Aluminum Co. during the second quarter worth approximately $3,239,000. 84.16% of the stock is owned by hedge funds and other institutional investors.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at 79.38 on Friday. The firm has a 50-day moving average price of $70.28 and a 200 day moving average price of $73.66. Reliance Steel & Aluminum Co. has a 1-year low of $50.08 and a 1-year high of $84.25. The company has a market cap of $5.76 billion, a PE ratio of 18.60 and a beta of 1.25.

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its earnings results on Thursday, October 20th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.32 by $0.07. The firm earned $2.19 billion during the quarter, compared to the consensus estimate of $1.84 billion. Reliance Steel & Aluminum Co. had a net margin of 3.63% and a return on equity of 8.10%. Reliance Steel & Aluminum Co.’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 earnings per share. On average, equities analysts anticipate that Reliance Steel & Aluminum Co. will post $4.40 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, November 18th will be paid a dividend of $0.425 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.70 annualized dividend and a yield of 2.14%. Reliance Steel & Aluminum Co.’s dividend payout ratio is currently 39.81%.

Reliance Steel & Aluminum Co. Company Profile

Reliance Steel & Aluminum Co is a metals service center company. The Company operates through metals service centers segment. The Company’s network of metals service centers operates over 300 locations in approximately 40 states in the United States and in other countries, including Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom.

5 Day Chart for NYSE:RS

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