ValuEngine lowered shares of Reliance Steel & Aluminum Co. (NYSE:RS) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Several other research firms have also recently weighed in on RS. Jefferies Group LLC reissued a hold rating and set a $72.00 price target on shares of Reliance Steel & Aluminum Co. in a report on Friday, October 6th. Cowen and Company reissued a buy rating and set a $92.00 price target on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, October 4th. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a hold rating to a buy rating and set a $86.00 price objective for the company in a report on Monday, October 16th. Macquarie started coverage on Reliance Steel & Aluminum Co. in a report on Wednesday, September 6th. They issued an outperform rating for the company. Finally, BidaskClub cut Reliance Steel & Aluminum Co. from a hold rating to a sell rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Reliance Steel & Aluminum Co. presently has a consensus rating of Hold and a consensus price target of $82.00.

Reliance Steel & Aluminum Co. (NYSE RS) opened at $75.56 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 4.06. Reliance Steel & Aluminum Co. has a one year low of $68.46 and a one year high of $88.58. The company has a market capitalization of $5,509.46, a P/E ratio of 14.93, a PEG ratio of 1.63 and a beta of 1.28.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.11. The business had revenue of $2.45 billion during the quarter. Reliance Steel & Aluminum Co. had a return on equity of 8.61% and a net margin of 3.97%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. research analysts anticipate that Reliance Steel & Aluminum Co. will post 5.16 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. Reliance Steel & Aluminum Co.’s dividend payout ratio is currently 35.43%.

A number of hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group grew its position in Reliance Steel & Aluminum Co. by 39.8% during the 3rd quarter. Schroder Investment Management Group now owns 477,287 shares of the industrial products company’s stock worth $36,398,000 after acquiring an additional 135,860 shares during the last quarter. Legal & General Group Plc grew its position in shares of Reliance Steel & Aluminum Co. by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 113,455 shares of the industrial products company’s stock valued at $8,643,000 after buying an additional 6,221 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Reliance Steel & Aluminum Co. by 2.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 139,798 shares of the industrial products company’s stock valued at $10,905,000 after buying an additional 2,675 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Reliance Steel & Aluminum Co. by 8.6% in the 3rd quarter. Nordea Investment Management AB now owns 28,075 shares of the industrial products company’s stock valued at $2,138,000 after buying an additional 2,232 shares during the last quarter. Finally, Tdam USA Inc. grew its position in shares of Reliance Steel & Aluminum Co. by 23.8% in the 3rd quarter. Tdam USA Inc. now owns 21,288 shares of the industrial products company’s stock valued at $1,622,000 after buying an additional 4,098 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

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

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