USA Financial Portformulas Corp Takes Position in Reliance Steel & Aluminum Co (RS)

USA Financial Portformulas Corp purchased a new position in Reliance Steel & Aluminum Co (NYSE:RS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,776 shares of the industrial products company’s stock, valued at approximately $593,000.

Several other institutional investors have also bought and sold shares of RS. LPL Financial LLC lifted its position in Reliance Steel & Aluminum by 42.4% in the 1st quarter. LPL Financial LLC now owns 10,850 shares of the industrial products company’s stock valued at $925,000 after purchasing an additional 3,229 shares during the last quarter. Millennium Management LLC lifted its position in Reliance Steel & Aluminum by 298.0% in the 1st quarter. Millennium Management LLC now owns 173,171 shares of the industrial products company’s stock valued at $14,848,000 after purchasing an additional 129,658 shares during the last quarter. Suntrust Banks Inc. lifted its position in Reliance Steel & Aluminum by 12.0% in the 1st quarter. Suntrust Banks Inc. now owns 11,940 shares of the industrial products company’s stock valued at $1,022,000 after purchasing an additional 1,278 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Reliance Steel & Aluminum by 39.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,780 shares of the industrial products company’s stock valued at $681,000 after purchasing an additional 2,220 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. bought a new stake in Reliance Steel & Aluminum in the 2nd quarter valued at about $292,000. Institutional investors own 81.40% of the company’s stock.

A number of analysts have commented on the stock. Macquarie set a $96.00 price target on shares of Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Friday, October 26th. JPMorgan Chase & Co. boosted their price target on shares of Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Wednesday, September 5th. Deutsche Bank downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and dropped their price target for the stock from $100.00 to $90.00 in a research report on Tuesday, October 2nd. Finally, Longbow Research downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a research report on Monday, October 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Reliance Steel & Aluminum has an average rating of “Hold” and a consensus price target of $95.30.

RS stock opened at $82.14 on Friday. Reliance Steel & Aluminum Co has a 52 week low of $72.69 and a 52 week high of $97.41. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 4.40.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.27). The company had revenue of $2.97 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 13.58% and a net margin of 7.66%. On average, research analysts expect that Reliance Steel & Aluminum Co will post 9.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.43%. Reliance Steel & Aluminum’s dividend payout ratio is currently 36.76%.

Reliance Steel & Aluminum Profile

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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