Shares of Reliance Steel & Aluminum Co. (NYSE:RS) gapped up before the market opened on Tuesday . The stock had previously closed at $80.74, but opened at $81.24. Reliance Steel & Aluminum Co. shares last traded at $82.61, with a volume of 246,081 shares changing hands.

A number of analysts have recently commented on RS shares. Vetr upgraded shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a report on Monday, April 25th. Bank of America Corp. cut shares of Reliance Steel & Aluminum Co. from a “neutral” rating to an “underperform” rating and set a $72.00 target price on the stock. in a report on Tuesday, April 19th. They noted that the move was a valuation call. Credit Agricole SA cut shares of Reliance Steel & Aluminum Co. from a “buy” rating to an “underperform” rating and boosted their target price for the company from $72.00 to $75.00 in a report on Friday, April 22nd. Cowen and Company restated a “buy” rating on shares of Reliance Steel & Aluminum Co. in a report on Tuesday, May 17th. Finally, Jefferies Group restated a “hold” rating and set a $72.00 target price (up previously from $68.00) on shares of Reliance Steel & Aluminum Co. in a report on Friday, June 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Reliance Steel & Aluminum Co. currently has a consensus rating of “Hold” and a consensus target price of $74.67.

The stock’s 50-day moving average is $76.17 and its 200-day moving average is $67.47. The company has a market cap of $5.97 billion and a price-to-earnings ratio of 20.06.

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its earnings results on Thursday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.15. The company earned $2.16 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the firm earned $1.30 EPS. Reliance Steel & Aluminum Co.’s revenue for the quarter was down 17.3% on a year-over-year basis. On average, equities analysts forecast that Reliance Steel & Aluminum Co. will post $4.66 earnings per share for the current fiscal year.

The business also recently announced 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 of this dividend was Wednesday, May 25th. This represents a $1.60 annualized dividend and a yield of 1.97%.

In other Reliance Steel & Aluminum Co. news, VP Stephen Paul Koch sold 23,355 shares of Reliance Steel & Aluminum Co. stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $71.20, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William A. Smith II sold 1,183 shares of Reliance Steel & Aluminum Co. stock in a transaction dated Wednesday, June 8th. The shares were 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 owns 10,000 shares in the company, valued at approximately $779,200. The disclosure for this sale can be found here.

Other large investors have modified their holdings of the company. TrimTabs Asset Management LLC increased its stake in shares of Reliance Steel & Aluminum Co. by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 38,317 shares of the company’s stock valued at $2,219,000 after buying an additional 714 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Reliance Steel & Aluminum Co. by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,038,218 shares of the company’s stock valued at $118,038,000 after buying an additional 90,272 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Reliance Steel & Aluminum Co. by 27.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 37,226 shares of the company’s stock valued at $2,156,000 after buying an additional 8,099 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Reliance Steel & Aluminum Co. by 109.0% in the fourth quarter. Systematic Financial Management LP now owns 77,075 shares of the company’s stock valued at $4,463,000 after buying an additional 40,200 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of Reliance Steel & Aluminum Co. by 7.2% in the fourth quarter. Suntrust Banks Inc. now owns 32,109 shares of the company’s stock valued at $1,858,000 after buying an additional 2,148 shares in the last quarter.

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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