Mutual of America Capital Management LLC grew its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,596 shares of the industrial products company’s stock after buying an additional 1,803 shares during the period. Mutual of America Capital Management LLC owned 0.08% of Reliance Steel & Aluminum Co. worth $4,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. World Asset Management Inc increased its stake in shares of Reliance Steel & Aluminum Co. by 2.1% during the first quarter. World Asset Management Inc now owns 5,261 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 106 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Reliance Steel & Aluminum Co. by 13.3% during the first quarter. UBS Asset Management Americas Inc. now owns 53,936 shares of the industrial products company’s stock worth $4,316,000 after purchasing an additional 6,336 shares during the period. Karp Capital Management Corp bought a new position in shares of Reliance Steel & Aluminum Co. during the first quarter worth approximately $2,234,000. Sei Investments Co. increased its stake in shares of Reliance Steel & Aluminum Co. by 147.3% during the first quarter. Sei Investments Co. now owns 9,840 shares of the industrial products company’s stock worth $787,000 after purchasing an additional 5,861 shares during the period. Finally, Stevens Capital Management LP bought a new position in shares of Reliance Steel & Aluminum Co. during the first quarter worth approximately $341,000. 82.50% of the stock is owned by institutional investors.

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A number of equities analysts have recently weighed in on RS shares. BidaskClub lowered Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “hold” rating on shares of Reliance Steel & Aluminum Co. in a research note on Thursday, August 31st. Macquarie initiated coverage on Reliance Steel & Aluminum Co. in a research note on Wednesday, September 6th. They set an “outperform” rating on the stock. KeyCorp restated an “overweight” rating and set a $81.00 price objective (down previously from $85.00) on shares of Reliance Steel & Aluminum Co. in a research note on Monday, June 26th. Finally, Cowen and Company set a $92.00 price objective on Reliance Steel & Aluminum Co. and gave the stock an “outperform” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum Co. has an average rating of “Buy” and a consensus price target of $83.00.

Reliance Steel & Aluminum Co. (RS) opened at 74.35 on Friday. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 16.77 and a beta of 1.23. The stock has a 50 day moving average price of $72.14 and a 200 day moving average price of $74.87. Reliance Steel & Aluminum Co. has a 52 week low of $65.10 and a 52 week high of $88.58.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.45). Reliance Steel & Aluminum Co. had a return on equity of 8.67% and a net margin of 3.57%. On average, equities analysts forecast that Reliance Steel & Aluminum Co. will post $5.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. Reliance Steel & Aluminum Co.’s payout ratio is currently 40.54%.

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).

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

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