Reliance Steel & Aluminum Co (RS) to Issue Quarterly Dividend of $0.55

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.

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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.

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Dividend History for Reliance Steel & Aluminum (NYSE:RS)

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