Reliance Steel & Aluminum Co (NYSE:RS) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, May 24th will be given a dividend of 0.55 per share by the industrial products company on Friday, June 14th. This represents a $2.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Thursday, May 23rd.
NYSE RS opened at $89.32 on Wednesday. Reliance Steel & Aluminum has a 12 month low of $68.62 and a 12 month high of $97.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.85 and a current ratio of 4.06. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 1.07 and a beta of 1.26.
Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Thursday, April 25th. The industrial products company reported $2.80 EPS for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.42. Reliance Steel & Aluminum had a net margin of 5.58% and a return on equity of 13.70%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the company posted $2.30 earnings per share. Reliance Steel & Aluminum’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts predict that Reliance Steel & Aluminum will post 9.15 EPS for the current fiscal year.
A number of research analysts have commented on RS shares. Cowen reaffirmed an “outperform” rating and issued a $95.00 target price (up previously from $80.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, February 26th. Longbow Research cut shares of Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 price target on the stock. in a research report on Thursday, April 18th. Jefferies Financial Group cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and reduced their price target for the stock from $105.00 to $100.00 in a research report on Friday, April 26th. Finally, Citigroup set a $98.00 price target on shares of Reliance Steel & Aluminum and gave the stock a “hold” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Reliance Steel & Aluminum has a consensus rating of “Hold” and an average target price of $93.20.
In other news, Director Andrew G. Sharkey III sold 2,000 shares of the stock in a transaction dated 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 owns 6,893 shares of the company’s stock, valued at $613,821.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregg J. Mollins sold 9,478 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $90.05, for a total transaction of $853,493.90. Following the completion of the sale, the director now directly owns 1,727,813 shares in the company, valued at approximately $155,589,560.65. The disclosure for this sale can be found here. Insiders have sold 117,570 shares of company stock worth $10,619,764 in the last three months. Corporate insiders own 3.43% of the company’s stock.
WARNING: “Reliance Steel & Aluminum Co (RS) to Issue Quarterly Dividend of $0.55” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2019/05/22/reliance-steel-aluminum-co-rs-to-issue-quarterly-dividend-of-0-55.html.
About Reliance Steel & Aluminum
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.
See Also: What is Blockchain?
Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.