Berkshire Asset Management LLC PA Takes Position in Reliance Steel & Aluminum Co. (RS)

Berkshire Asset Management LLC PA acquired a new position in shares of Reliance Steel & Aluminum Co. (NYSE:RS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,090 shares of the industrial products company’s stock, valued at approximately $265,000.

Several other hedge funds have also made changes to their positions in the stock. Schwab Charles Investment Management Inc. lifted its position in shares of Reliance Steel & Aluminum by 6.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 292,731 shares of the industrial products company’s stock worth $25,114,000 after buying an additional 18,830 shares during the last quarter. Profit Investment Management LLC lifted its position in shares of Reliance Steel & Aluminum by 4.6% during the 4th quarter. Profit Investment Management LLC now owns 44,991 shares of the industrial products company’s stock worth $3,860,000 after buying an additional 1,995 shares during the last quarter. Crow Point Partners LLC bought a new stake in shares of Reliance Steel & Aluminum during the 4th quarter worth $291,000. Prudential Financial Inc. lifted its position in shares of Reliance Steel & Aluminum by 2.6% during the 3rd quarter. Prudential Financial Inc. now owns 771,216 shares of the industrial products company’s stock worth $58,744,000 after buying an additional 19,560 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Reliance Steel & Aluminum by 633.3% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock worth $194,000 after buying an additional 2,204 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $82.69, for a total value of $92,860.87. Following the completion of the transaction, the senior vice president now directly owns 15,320 shares in the company, valued at $1,266,810.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.18% of the stock is currently owned by company insiders.

Reliance Steel & Aluminum Co. (RS) traded up $0.04 during trading on Wednesday, reaching $90.97. The company’s stock had a trading volume of 312,011 shares, compared to its average volume of 433,591. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6,630.00, a P/E ratio of 17.87, a PEG ratio of 1.57 and a beta of 1.29. Reliance Steel & Aluminum Co. has a 1 year low of $68.46 and a 1 year high of $92.18.

Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Thursday, October 26th. The industrial products company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.19 by $0.11. The firm had revenue of $2.45 billion during the quarter. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. Reliance Steel & Aluminum’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 earnings per share. equities research analysts forecast that Reliance Steel & Aluminum Co. will post 5.21 EPS for the current year.

Several analysts recently weighed in on the company. Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. Bank of America set a $97.00 target price on Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. KeyCorp set a $95.00 target price on Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Jefferies Group reiterated a “hold” rating and issued a $72.00 target price on shares of Reliance Steel & Aluminum in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Reliance Steel & Aluminum presently has a consensus rating of “Buy” and a consensus target price of $83.50.

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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).

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

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