Shares of Reliance Steel & Aluminum Co. (NYSE:RS) saw unusually-high trading volume on Wednesday . Approximately 796,554 shares traded hands during mid-day trading, an increase of 26% from the previous session’s volume of 629,836 shares.The stock last traded at $82.08 and had previously closed at $82.00.

RS has been the topic of a number of recent research reports. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Thursday, April 28th. Cowen and Company restated a “buy” rating on shares of Reliance Steel & Aluminum Co. in a research report on Tuesday, May 17th. Vetr upgraded Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating and set a $70.00 price target for the company in a research report on Monday, April 25th. Jefferies Group restated a “hold” rating and issued a $72.00 price target (up previously from $68.00) on shares of Reliance Steel & Aluminum Co. in a research report on Friday, June 10th. Finally, Rosenblatt Securities upped their price target on Reliance Steel & Aluminum Co. from $69.00 to $76.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 5th. Two 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $77.22.

The stock has a 50 day moving average of $77.72 and a 200-day moving average of $68.47. The firm has a market capitalization of $5.45 billion and a PE ratio of 18.34.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its earnings results on Thursday, July 21st. The company reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.06. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.31 billion. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. On average, equities analysts forecast that Reliance Steel & Aluminum Co. will post $4.66 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 12th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.70 annualized dividend and a yield of 2.23%. This is a positive change from Reliance Steel & Aluminum Co.’s previous quarterly dividend of $0.40.

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

Other hedge funds have recently modified their holdings of the company. TrimTabs Asset Management LLC boosted 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 worth $2,219,000 after buying an additional 714 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 worth $118,038,000 after buying an additional 90,272 shares in the last quarter. BNP Paribas Arbitrage SA boosted 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 worth $2,156,000 after buying an additional 8,099 shares in the last quarter. Systematic Financial Management LP boosted 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 worth $4,463,000 after buying an additional 40,200 shares in the last quarter. Finally, Suntrust Banks Inc. boosted 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 worth $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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