ValuEngine upgraded shares of Reliance Steel & Aluminum (NYSE:RS) from a hold rating to a buy rating in a research report report published on Friday.

Other equities research analysts also recently issued reports about the stock. Cowen reaffirmed a buy rating and issued a $92.00 target price on shares of Reliance Steel & Aluminum in a research note on Wednesday, October 4th. Bank of America reissued a buy rating and set a $89.00 price target (up from $88.00) on shares of Reliance Steel & Aluminum in a research note on Tuesday, September 5th. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a hold rating to a buy rating and set a $86.00 price target on the stock in a research note on Monday, October 16th. Clarkson Capital reissued a buy rating on shares of Reliance Steel & Aluminum in a research note on Wednesday, November 15th. Finally, Jefferies Group reissued a hold rating and set a $72.00 price target on shares of Reliance Steel & Aluminum in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $82.00.

Shares of Reliance Steel & Aluminum (RS) traded down $0.04 on Friday, reaching $78.57. 629,205 shares of the company were exchanged, compared to its average volume of 436,064. The stock has a market capitalization of $5,730.00, a P/E ratio of 15.54, a P/E/G ratio of 1.68 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.06 and a quick ratio of 1.79. Reliance Steel & Aluminum has a 1-year low of $68.46 and a 1-year high of $88.58.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.11. The business had revenue of $2.45 billion for the quarter. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. research analysts anticipate that Reliance Steel & Aluminum will post 5.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, November 16th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 35.36%.

Several hedge funds have recently bought and sold shares of the business. Grove Bank & Trust increased its stake in shares of Reliance Steel & Aluminum by 117.8% in the third quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock worth $121,000 after buying an additional 860 shares during the period. Huntington National Bank increased its stake in shares of Reliance Steel & Aluminum by 267.8% in the third quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock worth $123,000 after buying an additional 1,173 shares during the period. Zions Bancorporation purchased a new position in shares of Reliance Steel & Aluminum in the third quarter worth $144,000. Global X Management Co. LLC increased its stake in shares of Reliance Steel & Aluminum by 220.0% in the second quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock worth $168,000 after buying an additional 1,584 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Reliance Steel & Aluminum by 633.3% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock worth $194,000 after buying an additional 2,204 shares during the period. 82.30% of the stock is currently owned by hedge funds and other institutional investors.

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Reliance Steel & Aluminum 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).

Analyst Recommendations for Reliance Steel & Aluminum (NYSE:RS)

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