Shares of Reliance Steel & Aluminum Co. (NYSE:RS) hit a new 52-week high during trading on Thursday . The stock traded as high as $79.63 and last traded at $78.29, with a volume of 423,421 shares trading hands. The stock had previously closed at $78.78.

RS has been the subject of several research reports. Bank of America Corp. restated a “neutral” rating on shares of Reliance Steel & Aluminum Co. in a research note on Thursday, March 17th. Jefferies Group cut shares of Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating and set a $68.00 price objective for the company. in a research note on Monday, March 21st. Deutsche Bank AG cut shares of Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research note on Wednesday, March 23rd. Vetr upgraded shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating and set a $69.00 price objective for the company in a research note on Wednesday, March 23rd. Finally, Credit Agricole SA cut shares of Reliance Steel & Aluminum Co. from a “buy” rating to an “underperform” rating and lifted their price objective for the company from $72.00 to $75.00 in a research note on Friday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Reliance Steel & Aluminum Co. presently has a consensus rating of “Hold” and a consensus price target of $74.67.

The firm has a 50-day moving average price of $75.15 and a 200-day moving average price of $66.82. The company has a market capitalization of $5.62 billion and a P/E ratio of 18.880.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its quarterly earnings results on Thursday, April 21st. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. During the same quarter in the prior year, the company earned $1.30 earnings per share. The company earned $2.16 billion during the quarter, compared to analysts’ expectations of $2.19 billion. The business’s revenue for the quarter was down 17.3% on a year-over-year basis. On average, equities analysts predict that Reliance Steel & Aluminum Co. will post $4.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, May 27th were paid a $0.40 dividend. The ex-dividend date was Wednesday, May 25th. This represents a $1.60 annualized dividend and a yield of 2.03%.

In other news, Chairman David H. Hannah sold 35,917 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $71.38, for a total transaction of $2,563,755.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Stephen Paul Koch sold 23,355 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $71.20, for a total transaction of $1,662,876.00. Following the transaction, the vice president now owns 37,955 shares in the company, valued at $2,702,396. The disclosure for this sale can be found here.

Other institutional investors have made changes to their positions in the company. Twin Capital Management Inc. raised its position in shares of Reliance Steel & Aluminum Co. by 27.9% in the fourth quarter. Twin Capital Management Inc. now owns 22,940 shares of the company’s stock worth $1,328,000 after buying an additional 5,000 shares during the period. South Dakota Investment Council raised its position in Reliance Steel & Aluminum Co. by 7.6% in the fourth quarter. South Dakota Investment Council now owns 325,560 shares of the company’s stock worth $18,853,000 after buying an additional 23,000 shares during the period. Bruni J V & Co. Co. raised its position in Reliance Steel & Aluminum Co. by 0.8% in the fourth quarter. Bruni J V & Co. Co. now owns 322,945 shares of the company’s stock worth $18,702,000 after buying an additional 2,434 shares during the period. Vanguard Group Inc. raised its position in Reliance Steel & Aluminum Co. by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,846,689 shares of the company’s stock worth $280,672,000 after buying an additional 51,528 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in Reliance Steel & Aluminum Co. by 380.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 52,295 shares of the company’s stock worth $3,029,000 after buying an additional 41,415 shares during the period.

Reliance Steel & Aluminum Co is a metals service center company. The Company operates through metals service centers segment. The Company’s network of metals service centers operates over 300 locations in approximately 40 states in the United States and in other countries, including Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom.

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