Shares of Reliance Steel & Aluminum Co (NYSE:RS) have earned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $95.57.

RS has been the subject of a number of analyst reports. KeyCorp raised their price objective on Reliance Steel & Aluminum from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, June 14th. ValuEngine lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. Jefferies Financial Group raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, July 10th. JPMorgan Chase & Co. raised their price objective on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Monday, September 3rd.

Shares of NYSE:RS traded down $0.68 during trading on Thursday, hitting $85.34. The stock had a trading volume of 24,947 shares, compared to its average volume of 497,907. Reliance Steel & Aluminum has a 12 month low of $72.69 and a 12 month high of $97.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.76 and a current ratio of 4.06. The firm has a market capitalization of $6.17 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.96 and a beta of 1.13.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, July 26th. The industrial products company reported $3.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.35. Reliance Steel & Aluminum had a return on equity of 12.29% and a net margin of 7.55%. The company had revenue of $2.99 billion during the quarter. During the same period last year, the business earned $1.40 EPS. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. equities analysts forecast that Reliance Steel & Aluminum will post 9.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 17th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Thursday, August 16th. Reliance Steel & Aluminum’s payout ratio is 36.76%.

In other Reliance Steel & Aluminum news, Director David H. Hannah sold 25,000 shares of Reliance Steel & Aluminum stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total value of $2,251,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.24% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its stake in shares of Reliance Steel & Aluminum by 41.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 25,079 shares of the industrial products company’s stock worth $2,195,000 after buying an additional 7,380 shares during the last quarter. Global X Management Co LLC boosted its stake in shares of Reliance Steel & Aluminum by 17.8% in the 2nd quarter. Global X Management Co LLC now owns 17,728 shares of the industrial products company’s stock worth $1,552,000 after buying an additional 2,675 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Reliance Steel & Aluminum by 73.3% in the 2nd quarter. Verition Fund Management LLC now owns 8,533 shares of the industrial products company’s stock worth $747,000 after buying an additional 3,610 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Reliance Steel & Aluminum by 7.8% in the 2nd quarter. California Public Employees Retirement System now owns 228,462 shares of the industrial products company’s stock worth $20,000,000 after buying an additional 16,467 shares during the last quarter. Finally, Lingohr & Partner Asset Management GmbH purchased a new position in Reliance Steel & Aluminum during the second quarter valued at $1,363,000. 80.98% of the stock is owned by institutional investors and hedge funds.

About Reliance Steel & Aluminum

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

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