Reliance Steel & Aluminum Co. (NYSE:RS) – Analysts at KeyCorp increased their Q3 2017 earnings estimates for Reliance Steel & Aluminum Co. in a report issued on Wednesday. KeyCorp analyst P. Gibbs now expects that the industrial products company will post earnings of $1.14 per share for the quarter, up from their previous forecast of $1.13. KeyCorp has a “Overweight” rating and a $81.00 price target on the stock.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its earnings results on Thursday, October 26th. The industrial products company reported $0.84 earnings per share 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%.

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Several other equities analysts have also issued reports on RS. BidaskClub upgraded shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Deutsche Bank AG reiterated a “buy” rating on shares of Reliance Steel & Aluminum Co. in a report on Saturday, June 24th. Jefferies Group LLC reiterated a “hold” rating and set a $72.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, July 19th. Cowen and Company set a $92.00 price objective on shares of Reliance Steel & Aluminum Co. and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One equities research 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. Reliance Steel & Aluminum Co. currently has an average rating of “Buy” and a consensus target price of $83.00.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at 76.17 on Friday. The stock has a 50 day moving average price of $72.14 and a 200-day moving average price of $74.87. Reliance Steel & Aluminum Co. has a 1-year low of $65.10 and a 1-year high of $88.58. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 17.18 and a beta of 1.23.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, August 16th. Reliance Steel & Aluminum Co.’s payout ratio is 40.54%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global X Management Co. LLC lifted its stake in shares of Reliance Steel & Aluminum Co. by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock valued at $168,000 after buying an additional 1,584 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Reliance Steel & Aluminum Co. by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock valued at $203,000 after buying an additional 382 shares in the last quarter. BB&T Securities LLC lifted its stake in shares of Reliance Steel & Aluminum Co. by 25.5% during the 2nd quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock valued at $237,000 after buying an additional 664 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Reliance Steel & Aluminum Co. during the 1st quarter valued at approximately $248,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Reliance Steel & Aluminum Co. during the 2nd quarter valued at approximately $252,000. Hedge funds and other institutional investors own 82.50% of the company’s stock.

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).

Earnings History and Estimates for Reliance Steel & Aluminum Co. (NYSE:RS)

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