Dowling & Yahnke LLC lessened its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 483,556 shares of the industrial products company’s stock after selling 11,375 shares during the quarter. Reliance Steel & Aluminum Co. makes up 3.7% of Dowling & Yahnke LLC’s holdings, making the stock its largest holding. Dowling & Yahnke LLC owned about 0.66% of Reliance Steel & Aluminum Co. worth $36,832,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RS. Huntington National Bank grew its position in Reliance Steel & Aluminum Co. by 267.8% in the 3rd quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 1,173 shares during the last quarter. Global X Management Co. LLC grew its position in Reliance Steel & Aluminum Co. by 220.0% in 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 acquiring an additional 1,584 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Reliance Steel & Aluminum Co. by 15.9% in the 2nd 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 last quarter. NTV Asset Management LLC bought a new position in Reliance Steel & Aluminum Co. in the 3rd quarter valued at $209,000. Finally, Timber Hill LLC bought a new position in Reliance Steel & Aluminum Co. in the 3rd quarter valued at $224,000. 82.36% of the stock is currently owned by institutional investors.

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Several equities research analysts have weighed in on RS shares. Zacks Investment Research upgraded Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating in a report on Friday, October 27th. BidaskClub cut Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Macquarie started coverage on Reliance Steel & Aluminum Co. in a report on Wednesday, September 6th. They issued an “outperform” rating for the company. Finally, Cowen and Company reiterated a “buy” rating and issued a $92.00 target price on shares of Reliance Steel & Aluminum Co. in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $82.00.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded up $0.06 during midday trading on Monday, hitting $74.36. The company had a trading volume of 296,700 shares, compared to its average volume of 498,166. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $5,430.00, a PE ratio of 14.70, a P/E/G ratio of 1.60 and a beta of 1.28. Reliance Steel & Aluminum Co. has a 1 year low of $68.46 and a 1 year high of $88.58.

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. The firm had revenue of $2.45 billion during the quarter. Reliance Steel & Aluminum Co. had a return on equity of 8.61% and a net margin of 3.97%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. analysts predict that Reliance Steel & Aluminum Co. will post 5.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, November 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is currently 35.36%.

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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