James Donald Hoffman Sells 5,000 Shares of Reliance Steel & Aluminum Co (RS) Stock

Reliance Steel & Aluminum Co (NYSE:RS) COO James Donald Hoffman sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $92.30, for a total transaction of $461,500.00. Following the completion of the sale, the chief operating officer now owns 30,105 shares of the company’s stock, valued at approximately $2,778,691.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Reliance Steel & Aluminum Co (NYSE:RS) opened at $92.29 on Friday. The company has a current ratio of 4.34, a quick ratio of 1.88 and a debt-to-equity ratio of 0.38. The stock has a market cap of $6,701.18, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.52 and a beta of 1.26. Reliance Steel & Aluminum Co has a 52-week low of $68.46 and a 52-week high of $95.97.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, February 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.22. The company had revenue of $2.38 billion during the quarter. Reliance Steel & Aluminum had a net margin of 6.31% and a return on equity of 9.00%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. equities analysts expect that Reliance Steel & Aluminum Co will post 6.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, March 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.17%. This is a boost from Reliance Steel & Aluminum’s previous quarterly dividend of $0.45. Reliance Steel & Aluminum’s payout ratio is presently 21.61%.

Several analysts recently commented on the stock. KeyCorp raised their price objective on shares of Reliance Steel & Aluminum from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Cowen raised their price objective on shares of Reliance Steel & Aluminum from $101.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America set a $97.00 price objective on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, Longbow Research upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $86.33.

A number of institutional investors and hedge funds have recently made changes to their positions in RS. Victory Capital Management Inc. raised its position in Reliance Steel & Aluminum by 26.2% during the third quarter. Victory Capital Management Inc. now owns 3,430,812 shares of the industrial products company’s stock worth $261,326,000 after acquiring an additional 711,994 shares during the last quarter. Franklin Resources Inc. raised its position in Reliance Steel & Aluminum by 151.5% during the fourth quarter. Franklin Resources Inc. now owns 1,115,100 shares of the industrial products company’s stock worth $95,664,000 after acquiring an additional 671,700 shares during the last quarter. Luminus Management LLC raised its position in Reliance Steel & Aluminum by 14,721.2% during the fourth quarter. Luminus Management LLC now owns 472,205 shares of the industrial products company’s stock worth $40,511,000 after acquiring an additional 469,019 shares during the last quarter. Teachers Advisors LLC raised its position in Reliance Steel & Aluminum by 158.1% during the fourth quarter. Teachers Advisors LLC now owns 290,257 shares of the industrial products company’s stock worth $24,901,000 after acquiring an additional 177,779 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in Reliance Steel & Aluminum by 39.8% during the third quarter. Schroder Investment Management Group now owns 477,287 shares of the industrial products company’s stock worth $36,398,000 after acquiring an additional 135,860 shares during the last quarter. Institutional investors own 82.32% of the company’s stock.

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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).

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