AQR Capital Management LLC boosted its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,441,292 shares of the industrial products company’s stock after buying an additional 50,652 shares during the period. AQR Capital Management LLC owned 1.98% of Reliance Steel & Aluminum Co. worth $115,333,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Reliance Steel & Aluminum Co. by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 12,556 shares of the industrial products company’s stock valued at $1,005,000 after buying an additional 50 shares during the period. Pitcairn Co. raised its stake in shares of Reliance Steel & Aluminum Co. by 1.3% in the first quarter. Pitcairn Co. now owns 5,022 shares of the industrial products company’s stock valued at $402,000 after buying an additional 65 shares during the period. World Asset Management Inc raised its stake in shares of Reliance Steel & Aluminum Co. by 2.1% in the first quarter. World Asset Management Inc now owns 5,261 shares of the industrial products company’s stock valued at $421,000 after buying an additional 106 shares during the period. Argent Capital Management LLC raised its stake in shares of Reliance Steel & Aluminum Co. by 2.5% in the first quarter. Argent Capital Management LLC now owns 5,000 shares of the industrial products company’s stock valued at $400,000 after buying an additional 120 shares during the period. Finally, Vident Investment Advisory LLC raised its stake in shares of Reliance Steel & Aluminum Co. by 0.5% in the fourth quarter. Vident Investment Advisory LLC now owns 30,050 shares of the industrial products company’s stock valued at $2,390,000 after buying an additional 135 shares during the period. Institutional investors own 83.68% of the company’s stock.

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

Shares of Reliance Steel & Aluminum Co. (RS) traded up 0.92% during trading on Friday, reaching $72.44. 949,221 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $74.08 and a 200-day moving average price of $79.64. Reliance Steel & Aluminum Co. has a 52 week low of $65.10 and a 52 week high of $88.58. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 16.42 and a beta of 1.25.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its quarterly earnings data on Thursday, April 27th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.10. The business had revenue of $2.42 billion for the quarter. Reliance Steel & Aluminum Co. had a net margin of 3.65% and a return on equity of 8.71%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Analysts predict that Reliance Steel & Aluminum Co. will post $5.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 26th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $1.80 annualized dividend and a yield of 2.48%. Reliance Steel & Aluminum Co.’s payout ratio is 40.72%.

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Several brokerages have recently issued reports on RS. BidaskClub upgraded shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research lowered shares of Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, February 22nd. Barclays PLC reiterated a “hold” rating and issued a $59.00 target price on shares of Reliance Steel & Aluminum Co. in a research report on Monday, May 1st. Bank of America Corporation upgraded shares of Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday, May 23rd. They noted that the move was a valuation call. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $77.00 target price (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.25.

About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

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