Reliance Steel & Aluminum Co. (NYSE:RS) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other research firms also recently weighed in on RS. Bank of America Corp. raised Reliance Steel & Aluminum Co. from an “underperform” rating to a “neutral” rating and set a $84.00 target price on the stock in a research report on Thursday, July 28th. Jefferies Group reissued a “hold” rating on shares of Reliance Steel & Aluminum Co. in a research report on Saturday, October 1st. Zacks Investment Research downgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Clarkson Capital raised Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 18th. Finally, Deutsche Bank AG raised Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and decreased their target price for the stock from $75.00 to $74.00 in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.78.

Analyst Recommendations for Reliance Steel & Aluminum Co. (NYSE:RS)

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded up 0.98% during trading on Tuesday, reaching $83.21. The company had a trading volume of 676,967 shares. Reliance Steel & Aluminum Co. has a 12-month low of $50.08 and a 12-month high of $84.25. The company has a market cap of $6.04 billion, a P/E ratio of 19.50 and a beta of 1.25. The firm has a 50-day moving average of $71.98 and a 200-day moving average of $74.00.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 18th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, November 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is currently 39.81%.

In related news, EVP William K. Sales, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $81.56, for a total value of $2,039,000.00. Following the completion of the transaction, the executive vice president now owns 102,843 shares in the company, valued at approximately $8,387,875.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.73% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. C M Bidwell & Associates Ltd. bought a new position in Reliance Steel & Aluminum Co. during the second quarter valued at $100,000. Advisor Group Inc. boosted its position in Reliance Steel & Aluminum Co. by 86.1% in the third quarter. Advisor Group Inc. now owns 1,530 shares of the company’s stock valued at $108,000 after buying an additional 708 shares during the period. Paradigm Asset Management Co. LLC boosted its position in Reliance Steel & Aluminum Co. by 4.9% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,151 shares of the company’s stock valued at $165,000 after buying an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Reliance Steel & Aluminum Co. by 13.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,406 shares of the company’s stock valued at $173,000 after buying an additional 285 shares during the period. Finally, BKS Advisors LLC bought a new position in Reliance Steel & Aluminum Co. during the third quarter valued at $180,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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About Reliance Steel & Aluminum Co.

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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