Reliance Steel & Aluminum Co. (NYSE:RS) has received a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $78.40.

RS has been the subject of several recent analyst reports. Bank of America Corporation raised Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, May 23rd. They noted that the move was a valuation call. BidaskClub downgraded Reliance Steel & Aluminum Co. from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Cowen and Company set a $92.00 price objective on Reliance Steel & Aluminum Co. and gave the company an “outperform” rating in a report on Thursday, July 27th. Barclays PLC reissued a “hold” rating and issued a $59.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Monday, May 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $72.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, July 19th.

Shares of Reliance Steel & Aluminum Co. (RS) traded up 0.30% during trading on Tuesday, hitting $70.88. 536,155 shares of the stock were exchanged. The stock’s 50 day moving average is $72.48 and its 200-day moving average is $76.34. Reliance Steel & Aluminum Co. has a 12-month low of $65.10 and a 12-month high of $88.58. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 15.99 and a beta of 1.23.

Reliance Steel & Aluminum Co. (NYSE:RS) last released 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. The company had revenue of $2.48 billion during the quarter. Reliance Steel & Aluminum Co. had a return on equity of 8.67% and a net margin of 3.57%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. Equities research analysts anticipate that Reliance Steel & Aluminum Co. will post $5.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, August 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio is 40.54%.

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Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its stake in shares of Reliance Steel & Aluminum Co. by 39.8% in the first quarter. Canada Pension Plan Investment Board now owns 147,812 shares of the industrial products company’s stock valued at $11,828,000 after buying an additional 42,100 shares in the last quarter. Adams Natural Resources Fund Inc. increased its stake in shares of Reliance Steel & Aluminum Co. by 21.8% in the first quarter. Adams Natural Resources Fund Inc. now owns 34,100 shares of the industrial products company’s stock valued at $2,729,000 after buying an additional 6,100 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Reliance Steel & Aluminum Co. by 1.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,306 shares of the industrial products company’s stock valued at $2,025,000 after buying an additional 400 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp increased its stake in shares of Reliance Steel & Aluminum Co. by 70.2% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 61,900 shares of the industrial products company’s stock valued at $4,953,000 after buying an additional 25,535 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Reliance Steel & Aluminum Co. during the first quarter valued at about $1,086,000. 83.74% of the stock is owned by institutional investors and hedge funds.

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).

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

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