Stevens Capital Management LP cut its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,147 shares of the industrial products company’s stock after selling 1,397 shares during the quarter. Stevens Capital Management LP’s holdings in Reliance Steel & Aluminum were worth $865,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Great West Life Assurance Co. Can boosted its position in Reliance Steel & Aluminum by 4.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 52,385 shares of the industrial products company’s stock worth $4,471,000 after acquiring an additional 2,157 shares during the period. Westpac Banking Corp acquired a new position in Reliance Steel & Aluminum during the 3rd quarter worth $7,833,000. DekaBank Deutsche Girozentrale boosted its position in Reliance Steel & Aluminum by 47.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 62,703 shares of the industrial products company’s stock worth $5,429,000 after acquiring an additional 20,041 shares during the period. American International Group Inc. boosted its position in Reliance Steel & Aluminum by 9.3% during the 3rd quarter. American International Group Inc. now owns 159,081 shares of the industrial products company’s stock worth $13,568,000 after acquiring an additional 13,536 shares during the period. Finally, Twin Tree Management LP acquired a new position in Reliance Steel & Aluminum during the 3rd quarter worth $174,000. Institutional investors own 83.18% of the company’s stock.

RS has been the topic of a number of research reports. KeyCorp reissued a “buy” rating and issued a $90.00 price objective on shares of Reliance Steel & Aluminum in a research note on Friday, November 30th. Macquarie set a $96.00 price objective on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research note on Friday, October 26th. Zacks Investment Research raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Wednesday, September 5th. Citigroup downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Deutsche Bank downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $100.00 to $90.00 in a research note on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum has a consensus rating of “Hold” and a consensus target price of $94.60.

Shares of Reliance Steel & Aluminum stock opened at $75.91 on Friday. The firm has a market cap of $5.50 billion, a PE ratio of 8.63, a P/E/G ratio of 0.90 and a beta of 1.16. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39. Reliance Steel & Aluminum Co has a 12-month low of $74.65 and a 12-month high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.27). The company had revenue of $2.97 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 13.58% and a net margin of 7.66%. Equities research analysts predict that Reliance Steel & Aluminum Co will post 9.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, November 15th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 36.76%.

In other news, Director David H. Hannah sold 28,080 shares of the business’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total transaction of $2,246,400.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William A. Smith II sold 5,582 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $78.98, for a total value of $440,866.36. The disclosure for this sale can be found here. 3.24% of the stock is owned by insiders.

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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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