JPMorgan Chase & Co. raised its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 371,030 shares of the industrial products company’s stock after buying an additional 3,704 shares during the period. JPMorgan Chase & Co. owned approximately 0.51% of Reliance Steel & Aluminum Co. worth $29,690,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in RS. State Board of Administration of Florida Retirement System boosted its position in shares of Reliance Steel & Aluminum Co. by 2.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 99,872 shares of the industrial products company’s stock valued at $7,944,000 after buying an additional 2,478 shares in the last quarter. Comerica Bank boosted its position in shares of Reliance Steel & Aluminum Co. by 4.4% in the fourth quarter. Comerica Bank now owns 56,935 shares of the industrial products company’s stock valued at $4,632,000 after buying an additional 2,378 shares in the last quarter. Turner Investments LLC purchased a new position in shares of Reliance Steel & Aluminum Co. during the fourth quarter valued at about $577,000. State Street Corp boosted its position in shares of Reliance Steel & Aluminum Co. by 1.6% in the fourth quarter. State Street Corp now owns 2,502,770 shares of the industrial products company’s stock valued at $199,080,000 after buying an additional 38,287 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Reliance Steel & Aluminum Co. by 60.1% in the fourth quarter. Van ECK Associates Corp now owns 105,433 shares of the industrial products company’s stock valued at $8,386,000 after buying an additional 39,562 shares in the last quarter. Hedge funds and other institutional investors own 83.68% of the company’s stock.

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

Shares of Reliance Steel & Aluminum Co. (NYSE RS) traded up 1.3422% on Monday, hitting $73.4123. 34,904 shares of the stock traded hands. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58. The company’s 50 day moving average is $74.08 and its 200 day moving average is $79.64. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 16.6355 and a beta of 1.25.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its quarterly earnings results on Thursday, April 27th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.10. Reliance Steel & Aluminum Co. had a return on equity of 8.71% and a net margin of 3.65%. The company had revenue of $2.42 billion during the quarter. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Reliance Steel & Aluminum Co. will post $5.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 26th were issued a $0.45 dividend. The ex-dividend date was Wednesday, May 24th. This represents a $1.80 annualized dividend and a dividend yield of 2.48%. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is currently 40.72%.

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RS has been the topic of a number of recent analyst reports. Bank of America Corporation raised shares of Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, May 23rd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd. Barclays PLC reissued a “hold” rating and issued a $59.00 price objective on shares of Reliance Steel & Aluminum Co. in a research note on Monday, May 1st. Jefferies Group LLC reissued a “hold” rating and issued a $77.00 price objective (down from $80.00) on shares of Reliance Steel & Aluminum Co. in a research note on Friday, April 28th. Finally, Longbow Research started coverage on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, April 19th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $83.25.

About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

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