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

A number of research firms have recently commented on RS. Zacks Investment Research cut shares of Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a research report on Friday. Rosenblatt Securities upped their price target on shares of Reliance Steel & Aluminum Co. from $69.00 to $76.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Group reaffirmed a “hold” rating and issued a $72.00 price target (up from $68.00) on shares of Reliance Steel & Aluminum Co. in a report on Friday, June 10th. Cowen and Company reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum Co. in a report on Tuesday, May 17th. Finally, Vetr raised shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a report on Monday, April 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $74.67.

The firm has a market cap of $5.80 billion and a P/E ratio of 19.50. The firm has a 50 day moving average price of $75.61 and a 200 day moving average price of $67.07.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its quarterly earnings data on Thursday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.15. During the same quarter in the previous year, the business posted $1.30 EPS. The company earned $2.16 billion during the quarter, compared to analyst estimates of $2.19 billion. The company’s revenue was down 17.3% on a year-over-year basis. Equities analysts anticipate that Reliance Steel & Aluminum Co. will post $4.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, May 27th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, May 25th. This represents a $1.60 annualized dividend and a dividend yield of 2.00%.

In related news, Chairman David H. Hannah sold 35,917 shares of the firm’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $71.38, for a total value of $2,563,755.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 1,183 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $77.92, for a total value of $92,179.36. Following the completion of the transaction, the senior vice president now directly owns 10,000 shares of the company’s stock, valued at $779,200. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Reliance Steel & Aluminum Co. by 5.6% in the fourth quarter. Bank of Montreal Can now owns 111,498 shares of the company’s stock valued at $6,457,000 after buying an additional 5,958 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Reliance Steel & Aluminum Co. by 228.7% in the fourth quarter. Ameritas Investment Partners Inc. now owns 36,613 shares of the company’s stock valued at $2,120,000 after buying an additional 25,474 shares during the period. Twin Capital Management Inc. boosted 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 valued at $1,328,000 after buying an additional 5,000 shares during the period. South Dakota Investment Council boosted its position in shares of 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 valued at $18,853,000 after buying an additional 23,000 shares during the period. Finally, Bruni J V & Co. Co. boosted its position in shares of 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 valued at $18,702,000 after buying an additional 2,434 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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