Poplar Forest Capital LLC lowered its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 655,628 shares of the industrial products company’s stock after selling 22,338 shares during the period. Reliance Steel & Aluminum Co. accounts for 4.1% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 9th largest position. Poplar Forest Capital LLC owned 0.90% of Reliance Steel & Aluminum Co. worth $47,736,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RS. Janney Montgomery Scott LLC boosted its stake in Reliance Steel & Aluminum Co. by 12.1% during the first quarter. Janney Montgomery Scott LLC now owns 3,856 shares of the industrial products company’s stock worth $309,000 after buying an additional 415 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Reliance Steel & Aluminum Co. by 3.7% during the first quarter. Great West Life Assurance Co. Can now owns 50,248 shares of the industrial products company’s stock worth $4,020,000 after buying an additional 1,809 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Reliance Steel & Aluminum Co. by 1.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 101,134 shares of the industrial products company’s stock worth $8,093,000 after buying an additional 1,262 shares during the last quarter. Swiss National Bank boosted its stake in Reliance Steel & Aluminum Co. by 0.6% during the first quarter. Swiss National Bank now owns 119,900 shares of the industrial products company’s stock worth $9,594,000 after buying an additional 700 shares during the last quarter. Finally, World Asset Management Inc boosted its stake in Reliance Steel & Aluminum Co. by 2.1% during the first quarter. World Asset Management Inc now owns 5,261 shares of the industrial products company’s stock worth $421,000 after buying an additional 106 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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A number of research firms have weighed in on RS. Jefferies Group LLC reissued a “hold” rating and set a $72.00 price objective on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, July 19th. BidaskClub raised Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Deutsche Bank AG reissued a “buy” rating on shares of Reliance Steel & Aluminum Co. in a research note on Saturday, June 24th. Cowen and Company set a $92.00 price objective on Reliance Steel & Aluminum Co. and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $81.00 price target (down previously from $85.00) on shares of Reliance Steel & Aluminum Co. in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $83.00.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded up 0.03% during trading on Friday, hitting $72.45. The stock had a trading volume of 862,823 shares. The stock’s 50 day moving average is $72.06 and its 200-day moving average is $75.18. Reliance Steel & Aluminum Co. has a 12-month low of $65.10 and a 12-month high of $88.58. The company has a market cap of $5.28 billion, a PE ratio of 16.34 and a beta of 1.23.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.45). Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. Analysts forecast that Reliance Steel & Aluminum Co. will post $5.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Wednesday, August 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio is currently 40.54%.

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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