Reliance Steel & Aluminum Co. (NYSE:RS – Get Rating) – Investment analysts at KeyCorp increased their FY2022 earnings estimates for shares of Reliance Steel & Aluminum in a research report issued on Monday, November 21st. KeyCorp analyst P. Gibbs now anticipates that the industrial products company will post earnings of $28.65 per share for the year, up from their prior forecast of $28.60. KeyCorp has a “Overweight” rating and a $225.00 price objective on the stock. The consensus estimate for Reliance Steel & Aluminum’s current full-year earnings is $28.71 per share. KeyCorp also issued estimates for Reliance Steel & Aluminum’s Q4 2022 earnings at $4.46 EPS and FY2023 earnings at $17.00 EPS.
Reliance Steel & Aluminum (NYSE:RS – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The industrial products company reported $6.48 EPS for the quarter, topping analysts’ consensus estimates of $6.19 by $0.29. Reliance Steel & Aluminum had a net margin of 10.98% and a return on equity of 29.31%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the business posted $6.15 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year.
Reliance Steel & Aluminum Stock Performance
Shares of Reliance Steel & Aluminum stock opened at $211.58 on Wednesday. The firm has a market cap of $12.42 billion, a PE ratio of 6.92 and a beta of 0.87. The firm’s 50-day simple moving average is $190.65 and its 200-day simple moving average is $186.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.78 and a current ratio of 3.25. Reliance Steel & Aluminum has a 1 year low of $145.79 and a 1 year high of $215.10.
Reliance Steel & Aluminum Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, November 17th. Reliance Steel & Aluminum’s dividend payout ratio is presently 11.45%.
Insider Activity at Reliance Steel & Aluminum
In related news, CEO James Donald Hoffman sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $183.31, for a total transaction of $1,833,100.00. Following the completion of the sale, the chief executive officer now owns 132,738 shares of the company’s stock, valued at approximately $24,332,202.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.62% of the company’s stock.
Institutional Investors Weigh In On Reliance Steel & Aluminum
A number of institutional investors have recently modified their holdings of the business. Worth Asset Management LLC bought a new position in Reliance Steel & Aluminum in the 1st quarter worth about $28,000. Tobam bought a new position in Reliance Steel & Aluminum in the 3rd quarter worth about $33,000. Ronald Blue Trust Inc. grew its position in Reliance Steel & Aluminum by 400.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 245 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 196 shares during the last quarter. Penserra Capital Management LLC bought a new position in Reliance Steel & Aluminum in the 1st quarter worth about $46,000. Finally, Rational Advisors LLC grew its position in Reliance Steel & Aluminum by 50.6% in the 1st quarter. Rational Advisors LLC now owns 256 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 83.16% of the company’s stock.
Reliance Steel & Aluminum Company Profile
Reliance Steel & Aluminum Co engages in the provision of metals processing services and distribution of metal products. It offers alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. The company was founded by Thomas J. Neilan on February 3, 1939, and is headquartered in Scottsdale, AZ.
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