Macquarie downgraded shares of Reliance Steel & Aluminum Co. (NYSE:RS) from an outperform rating to a neutral rating in a report issued on Tuesday.

A number of other research analysts have also commented on the company. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a sell rating to a hold rating in a report on Thursday, October 27th. Clarkson Capital raised Reliance Steel & Aluminum Co. from a neutral rating to a buy rating in a report on Tuesday, October 18th. Jefferies Group restated a hold rating and set a $72.00 target price on shares of Reliance Steel & Aluminum Co. in a research note on Friday, September 16th. TheStreet upgraded Reliance Steel & Aluminum Co. from a hold rating to a buy rating in a research note on Tuesday, November 22nd. Finally, Deutsche Bank AG upgraded Reliance Steel & Aluminum Co. from a hold rating to a buy rating and decreased their target price for the company from $75.00 to $74.00 in a research note on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $78.78.

Reliance Steel & Aluminum Co. (NYSE:RS) opened at 81.66 on Tuesday. The stock has a 50 day moving average price of $72.76 and a 200 day moving average price of $74.18. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 19.14 and a beta of 1.25. Reliance Steel & Aluminum Co. has a 52-week low of $50.08 and a 52-week high of $84.25.

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its quarterly earnings data on Thursday, October 20th. The company reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by $0.07. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $1.84 billion. Reliance Steel & Aluminum Co. had a net margin of 3.63% and a return on equity of 8.10%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 EPS. Analysts anticipate that Reliance Steel & Aluminum Co. will post $4.40 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, November 18th will be issued a dividend of $0.425 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.70 dividend on an annualized basis and a yield of 2.08%. Reliance Steel & Aluminum Co.’s dividend payout ratio is 39.81%.

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

Several hedge funds and other institutional investors have recently bought and sold shares of RS. Retirement Systems of Alabama raised its position in 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 valued at $16,120,000 after buying an additional 640 shares in the last quarter. American Century Companies Inc. raised its position in 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 valued at $3,773,000 after buying an additional 28,339 shares in the last quarter. Gareth Morgan Investments Limited Partnership bought a new position in Reliance Steel & Aluminum Co. during the second quarter valued at about $3,239,000. Societe Generale bought a new position in Reliance Steel & Aluminum Co. during the second quarter valued at about $1,875,000. Finally, Synovus Financial Corp raised its position in Reliance Steel & Aluminum Co. by 0.6% in the second quarter. Synovus Financial Corp now owns 3,263 shares of the company’s stock valued at $250,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.

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.

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