First Trust Advisors LP boosted its position in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 41.7% during the third quarter, Holdings Channel reports. The institutional investor owned 178,798 shares of the company’s stock after buying an additional 52,601 shares during the period. First Trust Advisors LP’s holdings in Reliance Steel & Aluminum Co. were worth $12,879,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Retirement Systems of Alabama increased its position in shares of Reliance Steel & Aluminum Co. by 0.3% in the second quarter. Retirement Systems of Alabama now owns 209,626 shares of the company’s stock worth $16,120,000 after buying an additional 640 shares during the last quarter. American Century Companies Inc. increased its position in shares of Reliance Steel & Aluminum Co. by 136.7% in the second quarter. American Century Companies Inc. now owns 49,063 shares of the company’s stock worth $3,773,000 after buying an additional 28,339 shares during the last quarter. Gareth Morgan Investments Limited Partnership bought a new position in shares of Reliance Steel & Aluminum Co. during the second quarter worth about $3,239,000. Societe Generale bought a new position in shares of Reliance Steel & Aluminum Co. during the second quarter worth about $1,875,000. Finally, Synovus Financial Corp increased its position in shares of Reliance Steel & Aluminum Co. by 0.6% in the second quarter. Synovus Financial Corp now owns 3,263 shares of the company’s stock worth $250,000 after buying an additional 19 shares during the last quarter. Institutional investors own 83.30% of the company’s stock.

Institutional Ownership by Quarter for Reliance Steel & Aluminum Co. (NYSE:RS)

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down 0.190% during trading on Wednesday, reaching $81.505. 243,843 shares of the company were exchanged. The firm’s 50 day moving average is $72.76 and its 200 day moving average is $74.18. The firm has a market capitalization of $5.91 billion, a P/E ratio of 19.101 and a beta of 1.25. Reliance Steel & Aluminum Co. has a 1-year low of $50.08 and a 1-year high of $84.25.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 18th will be given a dividend of $0.425 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.70 annualized dividend and a dividend yield of 2.08%. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is 39.81%.

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

In other news, EVP William K. Sales, Jr. sold 25,000 shares of Reliance Steel & Aluminum Co. 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 directly owns 102,843 shares in the company, valued at $8,387,875.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.73% of the company’s stock.

About Reliance Steel & Aluminum Co.

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.

5 Day Chart for NYSE:RS

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