Russell Investments Group Ltd. Purchases 109,182 Shares of Reliance Steel & Aluminum Co (RS)

Russell Investments Group Ltd. boosted its stake in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 37.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 403,400 shares of the industrial products company’s stock after purchasing an additional 109,182 shares during the quarter. Russell Investments Group Ltd.’s holdings in Reliance Steel & Aluminum were worth $34,375,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in Reliance Steel & Aluminum by 107.9% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 750 shares during the period. Itau Unibanco Holding S.A. boosted its position in Reliance Steel & Aluminum by 130.1% during the second quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 1,352 shares during the period. Balasa Dinverno & Foltz LLC bought a new stake in shares of Reliance Steel & Aluminum in the third quarter valued at approximately $209,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Reliance Steel & Aluminum in the second quarter valued at approximately $237,000. Finally, GAM Holding AG bought a new stake in shares of Reliance Steel & Aluminum in the second quarter valued at approximately $245,000. 81.40% of the stock is owned by hedge funds and other institutional investors.

RS opened at $80.98 on Friday. Reliance Steel & Aluminum Co has a 1-year low of $72.69 and a 1-year high of $97.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.40 and a quick ratio of 1.92. The company has a market capitalization of $5.57 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, October 25th. The industrial products company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.27). The business had revenue of $2.97 billion during the quarter. Reliance Steel & Aluminum had a net margin of 7.66% and a return on equity of 13.58%. As a group, sell-side analysts predict that Reliance Steel & Aluminum Co will post 9.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.47%. Reliance Steel & Aluminum’s payout ratio is 36.76%.

RS has been the subject of several research reports. Zacks Investment Research cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Monday, September 3rd. JPMorgan Chase & Co. increased their price objective on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Citigroup cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Jefferies Financial Group raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, July 10th. Finally, KeyCorp reduced their price objective on Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating for the company in a research report on Monday, September 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $95.30.

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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