Petrus Trust Company LTA boosted its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 140.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,858 shares of the industrial products company’s stock after acquiring an additional 4,004 shares during the period. Petrus Trust Company LTA’s holdings in Reliance Steel & Aluminum Co. were worth $499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RS. Global X Management Co. LLC increased its stake in shares of 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 valued at $168,000 after acquiring an additional 1,584 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Reliance Steel & Aluminum Co. by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 382 shares during the period. BB&T Securities LLC increased its stake in shares of Reliance Steel & Aluminum Co. by 25.5% during the second quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 664 shares during the period. Two Sigma Securities LLC acquired a new position in shares of Reliance Steel & Aluminum Co. during the first quarter valued at approximately $248,000. Finally, Synovus Financial Corp increased its stake in shares of Reliance Steel & Aluminum Co. by 3.1% during the second quarter. Synovus Financial Corp now owns 3,546 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 106 shares during the period. 82.50% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Steel & Aluminum Co. (NYSE:RS) traded down 0.43% during trading on Thursday, reaching $75.77. 130,851 shares of the company were exchanged. The firm has a 50-day moving average of $72.14 and a 200-day moving average of $74.87. Reliance Steel & Aluminum Co. has a 52-week low of $65.10 and a 52-week high of $88.58. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 17.09 and a beta of 1.23.

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 forecast that Reliance Steel & Aluminum Co. will post $5.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Wednesday, August 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio is 40.54%.

A number of research analysts recently commented on RS shares. Zacks Investment Research upgraded shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub lowered shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Macquarie started coverage on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, September 6th. They issued an “outperform” rating on the stock. Cowen and Company restated 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. Finally, Bank of America Corporation restated 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum Co. has a consensus rating of “Buy” and an average target price of $83.00.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/09/28/petrus-trust-company-lta-acquires-4004-shares-of-reliance-steel-aluminum-co-rs.html.

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).

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co. (NYSE:RS).

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

Receive News & Stock Ratings for Reliance Steel & Aluminum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum Co. and related stocks with our FREE daily email newsletter.