Reliance Steel & Aluminum Co. (NYSE:RS)’s share price traded down 2.8% during trading on Friday . The stock traded as low as $72.47 and last traded at $72.49, with a volume of 285,579 shares traded. The stock had previously closed at $74.61.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Friday, July 15th. Rosenblatt Securities upped their price target on shares of 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. Bank of America Corp. raised shares of Reliance Steel & Aluminum Co. from an “underperform” rating to a “neutral” rating and set a $84.00 price target for the company in a research report on Thursday, July 28th. Cowen and Company upped their price target on shares of Reliance Steel & Aluminum Co. from $78.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, July 22nd. Finally, Jefferies Group reaffirmed a “hold” rating and set 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum Co. currently has an average rating of “Hold” and a consensus price target of $78.56.

The stock has a market capitalization of $5.29 billion and a price-to-earnings ratio of 17.02. The firm’s 50-day moving average is $77.83 and its 200 day moving average is $71.57.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its earnings results on Thursday, July 21st. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.30 by $0.06. The firm earned $2.20 billion during the quarter, compared to analyst estimates of $2.31 billion. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 earnings per share. Analysts anticipate that Reliance Steel & Aluminum Co. will post $4.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 12th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, August 10th. This is an increase from Reliance Steel & Aluminum Co.’s previous quarterly dividend of $0.40.

In other Reliance Steel & Aluminum Co. news, Chairman David H. Hannah sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $73.81, for a total value of $2,214,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas M. Hayes sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $73.78, for a total transaction of $368,900.00. Following the completion of the transaction, the director now owns 4,709 shares of the company’s stock, valued at $347,430.02. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently made changes to their positions in RS. Suntrust Banks Inc. boosted its position 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 during the last quarter. Calvert Investment Management Inc. bought a new stake in Reliance Steel & Aluminum Co. during the fourth quarter worth about $2,217,000. Systematic Financial Management LP raised its stake in 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 during the period. Principal Financial Group Inc. raised its stake in Reliance Steel & Aluminum Co. by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 230,557 shares of the company’s stock worth $13,352,000 after buying an additional 1,226 shares during the period. Finally, BlackRock Advisors LLC raised its stake in Reliance Steel & Aluminum Co. by 290.2% in the fourth quarter. BlackRock Advisors LLC now owns 305,555 shares of the company’s stock worth $17,695,000 after buying an additional 227,255 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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