KeyCorp reissued their buy rating on shares of Reliance Steel & Aluminum (NYSE:RS) in a research report released on Thursday. KeyCorp currently has a $84.00 target price on the industrial products company’s stock. KeyCorp also issued estimates for Reliance Steel & Aluminum’s Q4 2017 earnings at $0.98 EPS, FY2017 earnings at $5.30 EPS and FY2018 earnings at $5.75 EPS.

Several other brokerages have also commented on RS. Clarkson Capital restated a buy rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. Zacks Investment Research lowered shares of Reliance Steel & Aluminum from a buy rating to a hold rating in a research report on Wednesday, October 18th. Jefferies Group restated a hold rating on shares of Reliance Steel & Aluminum in a research report on Thursday, August 31st. ValuEngine lowered shares of Reliance Steel & Aluminum from a buy rating to a hold rating in a research report on Thursday, November 9th. Finally, Cowen restated a buy rating and set a $92.00 target price on shares of Reliance Steel & Aluminum in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $80.33.

Reliance Steel & Aluminum (RS) traded up $1.27 during trading hours on Thursday, reaching $83.07. 571,153 shares of the company were exchanged, compared to its average volume of 494,326. Reliance Steel & Aluminum has a 1 year low of $68.46 and a 1 year high of $88.58. The company has a current ratio of 4.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $5,920.72, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.73 and a beta of 1.29.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.11. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The firm had revenue of $2.45 billion for the quarter. During the same quarter last year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. equities research analysts anticipate that Reliance Steel & Aluminum will post 5.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, November 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.17%. Reliance Steel & Aluminum’s payout ratio is currently 35.43%.

Several large investors have recently added to or reduced their stakes in the company. QS Investors LLC raised its stake in shares of Reliance Steel & Aluminum by 0.5% during the 2nd quarter. QS Investors LLC now owns 3,710 shares of the industrial products company’s stock worth $270,000 after buying an additional 17 shares during the last quarter. M&T Bank Corp raised its stake in shares of Reliance Steel & Aluminum by 0.6% during the 2nd quarter. M&T Bank Corp now owns 6,785 shares of the industrial products company’s stock worth $494,000 after buying an additional 42 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Reliance Steel & Aluminum by 1.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,842 shares of the industrial products company’s stock worth $425,000 after buying an additional 67 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Reliance Steel & Aluminum by 3.1% during the 2nd quarter. Synovus Financial Corp now owns 3,546 shares of the industrial products company’s stock worth $259,000 after buying an additional 106 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of Reliance Steel & Aluminum by 1.3% during the 2nd quarter. State of Wisconsin Investment Board now owns 14,113 shares of the industrial products company’s stock worth $1,028,000 after buying an additional 180 shares during the last quarter. 82.34% of the stock is owned by institutional investors and hedge funds.

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About Reliance Steel & Aluminum

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).

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

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