Reliance Steel & Aluminum Co. (NYSE:RS) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports.

Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Clarkson Capital upgraded Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating in a report on Tuesday, October 18th. Jefferies Group restated a “hold” rating and set a $72.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Friday, September 16th. TheStreet upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating in a report on Tuesday, November 22nd. Finally, Deutsche Bank AG upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and decreased their price objective for the company from $75.00 to $74.00 in a report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.78.

Analyst Recommendations for Reliance Steel & Aluminum Co. (NYSE:RS)

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at 82.06 on Tuesday. The firm has a market cap of $5.95 billion, a P/E ratio of 19.23 and a beta of 1.25. Reliance Steel & Aluminum Co. has a one year low of $50.08 and a one year high of $84.25. The firm’s 50-day moving average price is $72.76 and its 200 day moving average price is $74.18.

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its quarterly earnings results on Thursday, October 20th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by $0.07. Reliance Steel & Aluminum Co. had a net margin of 3.63% and a return on equity of 8.10%. The business earned $2.19 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm posted $1.16 earnings per share. Reliance Steel & Aluminum Co.’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts predict that Reliance Steel & Aluminum Co. will post $4.40 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, November 18th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.70 annualized dividend and a yield of 2.07%. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is currently 39.81%.

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In related news, EVP William K. Sales, Jr. sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $81.56, for a total transaction of $2,039,000.00. Following the completion of the sale, the executive vice president now owns 102,843 shares in the company, valued at $8,387,875.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.73% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Profit Investment Management LLC increased its position in shares of Reliance Steel & Aluminum Co. by 38.6% in the second quarter. Profit Investment Management LLC now owns 38,000 shares of the company’s stock worth $2,922,000 after buying an additional 10,579 shares during the period. LS Investment Advisors LLC increased its position in shares of Reliance Steel & Aluminum Co. by 74.8% in the second quarter. LS Investment Advisors LLC now owns 4,390 shares of the company’s stock worth $338,000 after buying an additional 1,879 shares during the period. Acadian Asset Management LLC increased its position in shares of Reliance Steel & Aluminum Co. by 217.3% in the second quarter. Acadian Asset Management LLC now owns 1,270,712 shares of the company’s stock worth $97,717,000 after buying an additional 870,286 shares during the period. Fox Run Management L.L.C. increased its position in shares of Reliance Steel & Aluminum Co. by 81.3% in the second quarter. Fox Run Management L.L.C. now owns 5,800 shares of the company’s stock worth $446,000 after buying an additional 2,600 shares during the period. Finally, Eqis Capital Management Inc. increased its position in shares of Reliance Steel & Aluminum Co. by 0.8% in the second quarter. Eqis Capital Management Inc. now owns 5,385 shares of the company’s stock worth $414,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 83.30% of the company’s stock.

Reliance Steel & Aluminum Co. Company Profile

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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