Huntington National Bank lowered its stake in Reliance Steel & Aluminum Co (NYSE:RS) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,084 shares of the industrial products company’s stock after selling 115 shares during the period. Huntington National Bank’s holdings in Reliance Steel & Aluminum were worth $98,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new position in Reliance Steel & Aluminum in the fourth quarter worth about $236,000. KBC Group NV grew its position in Reliance Steel & Aluminum by 27.1% in the fourth quarter. KBC Group NV now owns 92,337 shares of the industrial products company’s stock worth $6,572,000 after acquiring an additional 19,688 shares in the last quarter. Kepos Capital LP purchased a new position in Reliance Steel & Aluminum in the third quarter worth about $5,410,000. Dupont Capital Management Corp grew its position in Reliance Steel & Aluminum by 6.6% in the fourth quarter. Dupont Capital Management Corp now owns 68,781 shares of the industrial products company’s stock worth $4,895,000 after acquiring an additional 4,281 shares in the last quarter. Finally, Bell Rock Capital LLC grew its position in Reliance Steel & Aluminum by 70.5% in the fourth quarter. Bell Rock Capital LLC now owns 856 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 354 shares in the last quarter. Institutional investors own 83.00% of the company’s stock.
Shares of NYSE RS opened at $91.69 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 4.70 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 1.17 and a beta of 1.27. Reliance Steel & Aluminum Co has a 1 year low of $68.62 and a 1 year high of $97.41.
Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, February 21st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.63). The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.76 billion. Reliance Steel & Aluminum had a return on equity of 13.30% and a net margin of 5.49%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. On average, sell-side analysts predict that Reliance Steel & Aluminum Co will post 8.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.55 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.20 annualized dividend and a yield of 2.40%. This is an increase from Reliance Steel & Aluminum’s previous quarterly dividend of $0.50. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 24.61%.
In other news, Director David H. Hannah sold 25,000 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $85.51, for a total transaction of $2,137,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew G. Sharkey III sold 2,000 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $89.05, for a total transaction of $178,100.00. Following the sale, the director now directly owns 6,893 shares of the company’s stock, valued at approximately $613,821.65. The disclosure for this sale can be found here. In the last three months, insiders sold 103,562 shares of company stock valued at $9,177,058. 3.24% of the stock is owned by insiders.
Several research analysts recently commented on RS shares. Cowen started coverage on Reliance Steel & Aluminum in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $80.00 price target for the company. Zacks Investment Research lowered Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $91.11.
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Reliance Steel & Aluminum Company Profile
Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.
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