Comerica Bank boosted its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,769 shares of the industrial products company’s stock after buying an additional 381 shares during the period. Comerica Bank owned about 0.08% of Reliance Steel & Aluminum Co. worth $4,447,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capstone Asset Management Co. raised its position in Reliance Steel & Aluminum Co. by 3.6% in the first quarter. Capstone Asset Management Co. now owns 8,086 shares of the industrial products company’s stock valued at $647,000 after buying an additional 280 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Reliance Steel & Aluminum Co. by 12.1% in the first quarter. Janney Montgomery Scott LLC now owns 3,856 shares of the industrial products company’s stock valued at $309,000 after buying an additional 415 shares during the last quarter. Russell Investments Group Ltd. raised its position in Reliance Steel & Aluminum Co. by 27.8% in the first quarter. Russell Investments Group Ltd. now owns 289,503 shares of the industrial products company’s stock valued at $23,167,000 after buying an additional 63,001 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in Reliance Steel & Aluminum Co. during the first quarter valued at about $1,086,000. Finally, DUPONT CAPITAL MANAGEMENT Corp raised its position in 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 during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Shares of Reliance Steel & Aluminum Co. (RS) opened at 70.88 on Monday. The firm has a 50-day moving average of $72.48 and a 200 day moving average of $76.34. Reliance Steel & Aluminum Co. has a 1-year low of $65.10 and a 1-year high of $88.58. The company has a market capitalization of $5.17 billion, a P/E ratio of 15.99 and a beta of 1.23.

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.02. The firm had revenue of $2.48 billion for the quarter. Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 earnings per share. On average, equities research analysts expect 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. Stockholders of record on Friday, August 18th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Wednesday, August 16th. Reliance Steel & Aluminum Co.’s payout ratio is presently 40.54%.

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Several equities research analysts have weighed in on RS shares. Barclays PLC reaffirmed 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. 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 for the company in a research note on Tuesday, May 23rd. They noted that the move was a valuation call. BidaskClub raised shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum Co. in a research note on Saturday, June 24th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $81.00 price target (down from $85.00) on shares of Reliance Steel & Aluminum Co. in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus 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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