King Luther Capital Management Corp trimmed its holdings in Reliance Steel & Aluminum Co (NYSE:RS) by 1.0% during the 2nd quarter, Holdings Channel reports. The firm owned 171,045 shares of the industrial products company’s stock after selling 1,650 shares during the period. King Luther Capital Management Corp’s holdings in Reliance Steel & Aluminum were worth $14,973,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Municipal Employees Retirement System of Michigan boosted its holdings in Reliance Steel & Aluminum by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 22,630 shares of the industrial products company’s stock valued at $1,940,000 after purchasing an additional 580 shares during the last quarter. Boston Private Wealth LLC boosted its stake in shares of Reliance Steel & Aluminum by 7.4% during the 1st quarter. Boston Private Wealth LLC now owns 8,513 shares of the industrial products company’s stock worth $730,000 after acquiring an additional 583 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake in shares of Reliance Steel & Aluminum by 3.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock worth $1,418,000 after acquiring an additional 600 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Reliance Steel & Aluminum by 1.8% during the 1st quarter. Mason Street Advisors LLC now owns 36,580 shares of the industrial products company’s stock worth $3,136,000 after acquiring an additional 657 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Reliance Steel & Aluminum by 2.4% during the 1st quarter. American Century Companies Inc. now owns 31,780 shares of the industrial products company’s stock worth $2,725,000 after acquiring an additional 748 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors.

In related news, Director David H. Hannah sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $90.04, for a total transaction of $2,251,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.24% of the stock is owned by corporate insiders.

RS opened at $88.25 on Friday. Reliance Steel & Aluminum Co has a twelve month low of $71.17 and a twelve month high of $97.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.06 and a quick ratio of 1.76. The stock has a market cap of $6.37 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.99 and a beta of 1.16.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings results on Thursday, July 26th. The industrial products company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.35. Reliance Steel & Aluminum had a net margin of 7.55% and a return on equity of 12.29%. The firm had revenue of $2.99 billion during the quarter. During the same quarter last year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. sell-side analysts expect that Reliance Steel & Aluminum Co will post 9.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 17th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, August 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.27%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 36.76%.

Several equities research analysts have recently issued reports on the stock. Bank of America lowered shares of Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 target price on the stock. in a research note on Friday. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Jefferies Financial Group raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, July 10th. Finally, ValuEngine lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $97.25.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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