Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 15.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,788 shares of the industrial products company’s stock after acquiring an additional 382 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Reliance Steel & Aluminum Co. were worth $203,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RS. Global X Management Co. LLC grew its holdings in Reliance Steel & Aluminum Co. by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock worth $168,000 after acquiring an additional 1,584 shares during the period. BB&T Securities LLC boosted its position in shares of Reliance Steel & Aluminum Co. by 25.5% in the 2nd quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 664 shares during the period. Two Sigma Securities LLC acquired a new position in shares of Reliance Steel & Aluminum Co. in the 1st quarter valued at $248,000. Laurion Capital Management LP acquired a new position in shares of Reliance Steel & Aluminum Co. in the 1st quarter valued at $280,000. Finally, Mckinley Capital Management LLC Delaware boosted its position in shares of Reliance Steel & Aluminum Co. by 12.9% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 3,521 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 401 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on RS. Macquarie began coverage on Reliance Steel & Aluminum Co. in a research report on Wednesday, September 6th. They issued an “outperform” rating for the company. Bank of America Corporation reiterated a “buy” rating and issued a $89.00 price target (up previously from $88.00) on shares of Reliance Steel & Aluminum Co. in a research report on Tuesday, September 5th. Cowen and Company reiterated a “buy” rating and issued a $92.00 price target on shares of Reliance Steel & Aluminum Co. in a research report on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating on shares of Reliance Steel & Aluminum Co. in a research report on Thursday, August 31st. Finally, Zacks Investment Research upgraded Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $83.00.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at 72.45 on Friday. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 16.34 and a beta of 1.23. Reliance Steel & Aluminum Co. has a 12 month low of $65.10 and a 12 month high of $88.58. The firm’s 50-day moving average price is $72.06 and its 200-day moving average price is $75.18.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were issued a $0.45 dividend. The ex-dividend date was Wednesday, August 16th. 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 40.54%.

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

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