KCG Holdings Inc. reduced its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 53.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,691 shares of the industrial products company’s stock after selling 4,268 shares during the period. KCG Holdings Inc.’s holdings in Reliance Steel & Aluminum Co. were worth $295,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Reliance Steel & Aluminum Co. by 1.0% in the first quarter. JPMorgan Chase & Co. now owns 371,030 shares of the industrial products company’s stock worth $29,690,000 after buying an additional 3,704 shares in the last quarter. BlackRock Inc. increased its stake in shares of Reliance Steel & Aluminum Co. by 11,996.1% in the first quarter. BlackRock Inc. now owns 6,681,296 shares of the industrial products company’s stock worth $534,635,000 after buying an additional 6,626,061 shares in the last quarter. Morgan Stanley boosted its stake in Reliance Steel & Aluminum Co. by 7.8% in the first quarter. Morgan Stanley now owns 185,574 shares of the industrial products company’s stock valued at $14,850,000 after buying an additional 13,366 shares during the last quarter. Comerica Bank boosted its stake in Reliance Steel & Aluminum Co. by 4.3% in the first quarter. Comerica Bank now owns 59,388 shares of the industrial products company’s stock valued at $4,783,000 after buying an additional 2,453 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Reliance Steel & Aluminum Co. by 3.0% in the first quarter. Nationwide Fund Advisors now owns 285,502 shares of the industrial products company’s stock valued at $22,846,000 after buying an additional 8,375 shares during the last quarter. 83.74% of the stock is currently owned by institutional investors.

Shares of Reliance Steel & Aluminum Co. (RS) traded up 0.29% on Friday, reaching $69.31. The company had a trading volume of 359,688 shares. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58. The company has a market capitalization of $5.05 billion, a PE ratio of 15.63 and a beta of 1.23. The company’s 50-day moving average is $72.83 and its 200-day moving average is $76.70.

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.38 by $0.02. Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. The firm had revenue of $2.48 billion during the quarter. During the same period last year, the company posted $1.36 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. Equities research analysts predict that Reliance Steel & Aluminum Co. will post $5.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, August 16th. Reliance Steel & Aluminum Co.’s payout ratio is currently 40.54%.

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Several equities research analysts have weighed in on RS shares. Bank of America Corporation upgraded Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, May 23rd. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and set a $77.00 target price (down from $80.00) on shares of Reliance Steel & Aluminum Co. in a research note on Friday, April 28th. BidaskClub cut Reliance Steel & Aluminum Co. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Cowen and Company set a $92.00 target price on Reliance Steel & Aluminum Co. and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, Barclays PLC reiterated a “hold” rating and issued a $59.00 price target on shares of Reliance Steel & Aluminum Co. in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $82.86.

Reliance Steel & Aluminum Co. Company Profile

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).

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

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