Reliance Steel & Aluminum Co (RS) Stake Increased by Northwestern Mutual Investment Management Company LLC

Northwestern Mutual Investment Management Company LLC lifted its holdings in Reliance Steel & Aluminum Co (NYSE:RS) by 56.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,902 shares of the industrial products company’s stock after buying an additional 5,353 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Reliance Steel & Aluminum were worth $1,278,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its holdings in Reliance Steel & Aluminum by 2.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 22,630 shares of the industrial products company’s stock valued at $1,940,000 after buying an additional 580 shares in the last quarter. Boston Private Wealth LLC grew its position in shares of Reliance Steel & Aluminum by 7.4% in the first quarter. Boston Private Wealth LLC now owns 8,513 shares of the industrial products company’s stock valued at $730,000 after purchasing an additional 583 shares during the last quarter. American Century Companies Inc. grew its position in shares of Reliance Steel & Aluminum by 2.4% in the first quarter. American Century Companies Inc. now owns 31,780 shares of the industrial products company’s stock valued at $2,725,000 after purchasing an additional 748 shares during the last quarter. Vident Investment Advisory LLC grew its position in shares of Reliance Steel & Aluminum by 2.4% in the fourth quarter. Vident Investment Advisory LLC now owns 31,873 shares of the industrial products company’s stock valued at $2,734,000 after purchasing an additional 752 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Reliance Steel & Aluminum by 6.0% in the fourth quarter. Amalgamated Bank now owns 14,330 shares of the industrial products company’s stock valued at $1,229,000 after purchasing an additional 813 shares during the last quarter. 80.55% of the stock is owned by institutional investors and hedge funds.

Reliance Steel & Aluminum opened at $94.49 on Tuesday, according to Marketbeat. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.76 and a current ratio of 3.93. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.22 and a beta of 1.19. Reliance Steel & Aluminum Co has a 1-year low of $68.46 and a 1-year high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings data on Thursday, April 26th. The industrial products company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.29. The company had revenue of $2.76 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 10.01% and a net margin of 6.67%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. sell-side analysts predict that Reliance Steel & Aluminum Co will post 8.54 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, May 25th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, May 24th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 36.76%.

In other news, VP Stephen Paul Koch sold 12,645 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $95.75, for a total value of $1,210,758.75. Following the completion of the transaction, the vice president now owns 19,020 shares in the company, valued at $1,821,165. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Patrick Shanley sold 4,069 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $96.50, for a total transaction of $392,658.50. Following the completion of the transaction, the vice president now owns 27,890 shares of the company’s stock, valued at approximately $2,691,385. The disclosure for this sale can be found here. Insiders sold 24,914 shares of company stock valued at $2,389,633 in the last quarter. 3.24% of the stock is currently owned by corporate insiders.

A number of research firms recently weighed in on RS. KeyCorp lifted their target price on Reliance Steel & Aluminum from $97.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, June 14th. ValuEngine downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Deutsche Bank decreased their target price on Reliance Steel & Aluminum from $100.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, March 29th. Goldman Sachs Group began coverage on Reliance Steel & Aluminum in a research report on Tuesday, March 20th. They set a “neutral” rating and a $103.00 target price on the stock. Finally, Zacks Investment Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $97.14.

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

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