Wellington Shields Capital Management LLC acquired a new position in Reliance Steel & Aluminum Co (NYSE:RS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,350 shares of the industrial products company’s stock, valued at approximately $286,000.

Other institutional investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in shares of Reliance Steel & Aluminum by 107.9% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 750 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Reliance Steel & Aluminum by 130.1% in the second quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 1,352 shares during the last quarter. Balasa Dinverno & Foltz LLC bought a new stake in shares of Reliance Steel & Aluminum in the third quarter worth $209,000. Private Advisor Group LLC bought a new stake in shares of Reliance Steel & Aluminum in the third quarter worth $231,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Reliance Steel & Aluminum in the second quarter worth $237,000. 81.25% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on RS. JPMorgan Chase & Co. boosted their price objective on shares of Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Bank of America cut shares of Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 price objective on the stock. in a research note on Friday, September 7th. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Wednesday, September 5th. Citigroup cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Deutsche Bank cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $100.00 to $90.00 in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $95.30.

RS stock opened at $81.06 on Friday. The firm has a market capitalization of $5.83 billion, a P/E ratio of 14.90, a PEG ratio of 0.96 and a beta of 1.15. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39. Reliance Steel & Aluminum Co has a 12-month low of $72.69 and a 12-month high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.27). The firm had revenue of $2.97 billion during the quarter. Reliance Steel & Aluminum had a net margin of 7.66% and a return on equity of 13.58%. Equities analysts anticipate that Reliance Steel & Aluminum Co will post 9.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.00 annualized dividend and a yield of 2.47%. Reliance Steel & Aluminum’s payout ratio is 36.76%.

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Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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