Reliance Steel & Aluminum Co. (NYSE:RS) – Equities research analysts at KeyCorp lifted their FY2018 earnings per share (EPS) estimates for Reliance Steel & Aluminum Co. in a note issued to investors on Wednesday. KeyCorp analyst P. Gibbs now forecasts that the industrial products company will post earnings per share of $5.60 for the year, up from their previous forecast of $5.40. KeyCorp has a “Overweight” rating and a $81.00 price target on the stock.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Macquarie began coverage on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, September 6th. They set an “outperform” rating for the company. Cowen and Company reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Friday, September 1st. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $89.00 price objective (up from $88.00) on shares of Reliance Steel & Aluminum Co. in a research report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $83.00.

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Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down 0.622% on Monday, hitting $77.525. 167,459 shares of the stock were exchanged. The firm’s 50 day moving average price is $73.02 and its 200 day moving average price is $74.45. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 17.484 and a beta of 1.24. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58.

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 return on equity of 8.67% and a net margin of 3.57%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC boosted its stake in Reliance Steel & Aluminum Co. by 1.5% during the second quarter. Lord Abbett & CO. LLC now owns 1,832,962 shares of the industrial products company’s stock valued at $133,458,000 after buying an additional 26,528 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Reliance Steel & Aluminum Co. during the second quarter worth about $252,000. Public Employees Retirement System of Ohio grew its holdings in Reliance Steel & Aluminum Co. by 1.5% during the second quarter. Public Employees Retirement System of Ohio now owns 140,935 shares of the industrial products company’s stock worth $10,261,000 after acquiring an additional 2,109 shares during the period. Koch Industries Inc. acquired a new position in Reliance Steel & Aluminum Co. during the second quarter worth about $393,000. Finally, 1st Global Advisors Inc. acquired a new position in Reliance Steel & Aluminum Co. during the second quarter worth about $278,000. 82.50% of the stock is currently owned by institutional investors.

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.31%. 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).

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

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