Russell Investments Group Ltd. reduced its stake in Reliance Steel & Aluminum Co. (NYSE:RS) by 30.2% during the second quarter, Holdings Channel reports. The firm owned 202,178 shares of the industrial products company’s stock after selling 87,325 shares during the period. Russell Investments Group Ltd.’s holdings in Reliance Steel & Aluminum Co. were worth $14,722,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RS. BlackRock Inc. raised its position in Reliance Steel & Aluminum Co. by 11,996.1% in the first quarter. BlackRock Inc. now owns 6,681,296 shares of the industrial products company’s stock valued at $534,635,000 after buying an additional 6,626,061 shares during the period. Wellington Management Group LLP raised its position in Reliance Steel & Aluminum Co. by 42.6% in the first quarter. Wellington Management Group LLP now owns 1,777,396 shares of the industrial products company’s stock valued at $142,227,000 after buying an additional 531,364 shares during the period. Victory Capital Management Inc. raised its position in Reliance Steel & Aluminum Co. by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,127,546 shares of the industrial products company’s stock valued at $170,245,000 after buying an additional 393,700 shares during the period. Acadian Asset Management LLC raised its position in Reliance Steel & Aluminum Co. by 17.0% in the first quarter. Acadian Asset Management LLC now owns 1,947,526 shares of the industrial products company’s stock valued at $155,841,000 after buying an additional 283,652 shares during the period. Finally, Alliancebernstein L.P. raised its position in Reliance Steel & Aluminum Co. by 372.1% in the first quarter. Alliancebernstein L.P. now owns 344,917 shares of the industrial products company’s stock valued at $27,600,000 after buying an additional 271,863 shares during the period. Hedge funds and other institutional investors own 83.28% of the company’s stock.

Reliance Steel & Aluminum Co. (NYSE RS) traded down 1.5405% during trading on Friday, hitting $70.3001. 143,284 shares of the stock traded hands. The company has a market capitalization of $5.13 billion, a P/E ratio of 15.8548 and a beta of 1.23. The company’s 50 day moving average is $73.09 and its 200 day moving average is $77.16. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.02. Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. The company had revenue of $2.48 billion during the quarter. During the same period last year, the business earned $1.36 EPS. The business’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that Reliance Steel & Aluminum Co. will post $5.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, August 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is presently 40.54%.

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Several research analysts have issued reports on RS shares. Bank of America Corporation upgraded shares of Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, May 23rd. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and issued a $77.00 price target (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a research report on Friday, April 28th. BidaskClub lowered shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Barclays PLC restated a “hold” rating and issued a $59.00 price target on shares of Reliance Steel & Aluminum Co. in a research report on Monday, May 1st. Finally, Cowen and Company set a $92.00 price target on shares of Reliance Steel & Aluminum Co. and gave the stock an “outperform” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $82.86.

Reliance Steel & Aluminum Co. Company Profile

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

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