(NYSE:RS) last released its quarterly earnings results on Thursday, July 27th. OppenheimerFunds Inc. now owns 30,007 shares of the industrial products company's stock valued at $2,401,000 after buying an additional 4,677 shares during the period. Reliance Steel Aluminum now has $5.22 billion valuation.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Invest holds 0.02% in Reliance Steel & Aluminum Co (NYSE:RS) or 230,780 shares. Federated Pa has invested 0.01% in Reliance Steel & Aluminum Co (NYSE:RS). Laurion Capital Management LP bought a new position in shares of Reliance Steel & Aluminum Co. during the first quarter worth $280,000. Russell Investments Group Ltd. increased its stake in Reliance Steel & Aluminum Co.by 27.8% in the first quarter. Principal Financial Group Inc. now owns 319,935 shares of the industrial products company's stock valued at $25,601,000 after buying an additional 26,127 shares during the period. Finally, Burney Co. increased its position in shares of Reliance Steel & Aluminum Co.by 6.2% in the first quarter. Janney Montgomery Scott LLC now owns 3,856 shares of the industrial products company's stock valued at $309,000 after buying an additional 415 shares during the period. Nomura Asset Management Co invested in 1,590 shares or 0% of the stock. CrestPoint Capital Management purchased a fresh position in stocks of Reliance Steel & Aluminum during the Q1 assessed at roughly $208,000. (RS) traded down 1.30% on Friday, hitting $71.40. Municipal Employees Retirement System of MI now owns 33,630 shares of the industrial products company's stock valued at $2,691,000 after buying an additional 650 shares during the period.
Company shares last traded at $70.24 a bit lower than the 50 day moving average of $73.09 and quite a bit lower than the 200 day moving average of $77.16. Reliance Steel & Aluminum has a 1 year low of $65.10 and a 1 year high of $88.58. The company has a market capitalization of $5.12 billion, a P/E ratio of 15.84 and a beta of 1.23.
Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. As of December 31, 2016, it provided metals processing services and distributes a range of more than 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products in a range of industries. Reliance Steel & Aluminum Co.'s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. On average, equities analysts expect that Reliance Steel & Aluminum Co. will post $5.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 16th. The industrial products business posted $1.40 EPS (EPS) for the period, topping analysts' average forecasts of $1.38 by $0.02. the company reported sales of $2.48 B throughout the period. Reliance Steel & Aluminum Co.'s dividend payout ratio is 40.54%. "(NYSE:RS) This Quarter" was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and worldwide trademark and copyright law. The legal version of this piece can be read at https://www.baseball-news-blog.com/2017/08/10/reliance-steel-aluminum-co-rs-stock-rating-lowered-by-bidaskclub-updated.html. Gargoyle Investment Advisor Llc sold 5,160 shares as Reliance Steel & Aluminum Co (RS)'s stock declined 16.82%. KeyCorp reaffirmed an overweight recommendation and fixed a $81.00 price objective (down prior from $85.00) on stocks of Reliance Steel & Aluminum in a study report on early Mon, Jun 26th.
04/19/2017 - Longbow Research began new coverage on Reliance Steel & Aluminum Co. giving the company a "neutral" rating. Barclays PLC restated a "hold" rating and set a $59.00 price target on shares of Reliance Steel & Aluminum Co.in a report on Monday, May 1st. 1 investment expert has recommended the share with a sell recommendation, four have issued a hold recommendation and around seven have published a buy recommendation to the firms shares. Citigroup maintained the stock with "Buy" rating in Wednesday, June 7 report.