Symmetry Partners LLC Invests $386,000 in Reliance Steel & Aluminum Co (NYSE:RS)

Symmetry Partners LLC bought a new position in Reliance Steel & Aluminum Co (NYSE:RS) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 3,874 shares of the industrial products company’s stock, valued at approximately $386,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Reliance Steel & Aluminum by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,495,340 shares of the industrial products company’s stock valued at $614,590,000 after purchasing an additional 178,013 shares in the last quarter. Victory Capital Management Inc. raised its position in Reliance Steel & Aluminum by 0.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,114,555 shares of the industrial products company’s stock valued at $389,319,000 after purchasing an additional 22,803 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Reliance Steel & Aluminum by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 983,535 shares of the industrial products company’s stock worth $93,062,000 after acquiring an additional 69,294 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Reliance Steel & Aluminum by 41.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 906,963 shares of the industrial products company’s stock worth $85,816,000 after acquiring an additional 266,169 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Reliance Steel & Aluminum by 137.8% in the 2nd quarter. Wells Fargo & Company MN now owns 865,529 shares of the industrial products company’s stock worth $81,896,000 after acquiring an additional 501,503 shares in the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

RS has been the subject of several recent research reports. Citigroup set a $104.00 price target on Reliance Steel & Aluminum and gave the stock a “hold” rating in a research report on Friday, July 26th. KeyCorp boosted their price target on Reliance Steel & Aluminum from $107.00 to $109.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Zacks Investment Research raised Reliance Steel & Aluminum from a “sell” rating to a “hold” rating and set a $103.00 price target for the company in a research report on Friday, October 4th. Cowen reissued an “outperform” rating and issued a $123.00 price target (up from $107.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, October 29th. Finally, Longbow Research raised Reliance Steel & Aluminum from an “underperform” rating to a “neutral” rating in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $105.00.

Shares of RS traded down $0.13 during trading hours on Friday, hitting $117.31. The company had a trading volume of 28,844 shares, compared to its average volume of 536,906. The company has a market capitalization of $7.83 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.37 and a beta of 1.34. The company has a current ratio of 4.01, a quick ratio of 1.90 and a debt-to-equity ratio of 0.31. Reliance Steel & Aluminum Co has a one year low of $68.62 and a one year high of $120.85. The company’s fifty day moving average price is $105.03 and its two-hundred day moving average price is $96.17.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, October 24th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.44. Reliance Steel & Aluminum had a return on equity of 12.52% and a net margin of 5.48%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the company posted $2.42 EPS. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. Analysts forecast that Reliance Steel & Aluminum Co will post 9.59 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, November 14th. Reliance Steel & Aluminum’s dividend payout ratio is currently 24.61%.

Reliance Steel & Aluminum 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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Institutional Ownership by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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