Acadian Asset Management LLC trimmed its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,042,071 shares of the industrial products company’s stock after selling 205,225 shares during the period. Acadian Asset Management LLC’s holdings in Reliance Steel & Aluminum were worth $89,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prudential Financial Inc. raised its position in shares of Reliance Steel & Aluminum by 2.6% in the third quarter. Prudential Financial Inc. now owns 771,216 shares of the industrial products company’s stock valued at $58,744,000 after buying an additional 19,560 shares in the last quarter. Nationwide Fund Advisors raised its position in Reliance Steel & Aluminum by 4.6% during the third quarter. Nationwide Fund Advisors now owns 313,392 shares of the industrial products company’s stock valued at $23,871,000 after purchasing an additional 13,909 shares in the last quarter. FDx Advisors Inc. raised its position in Reliance Steel & Aluminum by 113.1% during the third quarter. FDx Advisors Inc. now owns 14,087 shares of the industrial products company’s stock valued at $1,073,000 after purchasing an additional 7,478 shares in the last quarter. Caxton Associates LP acquired a new position in Reliance Steel & Aluminum during the second quarter valued at approximately $13,834,000. Finally, Profit Investment Management LLC raised its position in Reliance Steel & Aluminum by 6.1% during the third quarter. Profit Investment Management LLC now owns 42,996 shares of the industrial products company’s stock valued at $3,275,000 after purchasing an additional 2,488 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.

Shares of Reliance Steel & Aluminum Co. (NYSE RS) opened at $91.17 on Friday. The firm has a market cap of $6,630.19, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29. Reliance Steel & Aluminum Co. has a one year low of $68.46 and a one year high of $92.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 4.06.

Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results 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 for the quarter. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. sell-side analysts expect that Reliance Steel & Aluminum Co. will post 5.22 EPS for the current year.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $82.69, for a total transaction of $92,860.87. Following the sale, the senior vice president now owns 15,320 shares of the company’s stock, valued at $1,266,810.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.73% of the company’s stock.

Several brokerages have commented on RS. KeyCorp set a $95.00 price objective on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Bank of America set a $97.00 price objective on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Monday, January 8th. ValuEngine upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. 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’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $83.50.

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Reliance Steel & Aluminum 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).

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

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