Northpointe Capital LLC Has $4.37 Million Holdings in Reliance Steel & Aluminum Co (RS)

Northpointe Capital LLC raised its position in Reliance Steel & Aluminum Co (NYSE:RS) by 103.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,440 shares of the industrial products company’s stock after buying an additional 24,668 shares during the period. Reliance Steel & Aluminum accounts for 1.4% of Northpointe Capital LLC’s investment portfolio, making the stock its 25th biggest holding. Northpointe Capital LLC owned 0.07% of Reliance Steel & Aluminum worth $4,372,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RS. Riverhead Capital Management LLC grew its position in shares of Reliance Steel & Aluminum by 22.4% during the 3rd quarter. Riverhead Capital Management LLC now owns 4,918 shares of the industrial products company’s stock valued at $419,000 after acquiring an additional 900 shares during the period. Renaissance Technologies LLC boosted its holdings in Reliance Steel & Aluminum by 47.8% in the 3rd quarter. Renaissance Technologies LLC now owns 146,812 shares of the industrial products company’s stock worth $12,522,000 after buying an additional 47,500 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Reliance Steel & Aluminum by 3.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 119,609 shares of the industrial products company’s stock worth $10,201,000 after buying an additional 4,506 shares during the period. Verition Fund Management LLC boosted its holdings in Reliance Steel & Aluminum by 47.5% in the 3rd quarter. Verition Fund Management LLC now owns 12,588 shares of the industrial products company’s stock worth $1,074,000 after buying an additional 4,055 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Reliance Steel & Aluminum by 15.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 28,977 shares of the industrial products company’s stock worth $2,471,000 after buying an additional 3,898 shares during the period. Hedge funds and other institutional investors own 83.00% of the company’s stock.

NYSE:RS traded down $0.02 during trading hours on Wednesday, hitting $91.67. The stock had a trading volume of 41,679 shares, compared to its average volume of 436,131. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.70 and a quick ratio of 2.10. Reliance Steel & Aluminum Co has a one year low of $68.62 and a one year high of $97.41. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.17 and a beta of 1.27.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings results on Thursday, February 21st. The industrial products company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.63). Reliance Steel & Aluminum had a net margin of 5.49% and a return on equity of 13.30%. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities research analysts expect that Reliance Steel & Aluminum Co will post 8.67 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.55 dividend. 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. The ex-dividend date was Thursday, March 14th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 24.61%.

Several research analysts recently commented on RS shares. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Cowen started coverage on shares of Reliance Steel & Aluminum in a report on Tuesday, January 8th. They issued an “outperform” rating and a $80.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $91.11.

In other news, Director Andrew G. Sharkey III sold 2,000 shares of the firm’s stock in a transaction 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 owns 6,893 shares in the company, valued at approximately $613,821.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David H. Hannah sold 25,000 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Over the last three months, insiders sold 103,562 shares of company stock valued at $9,177,058. Insiders own 3.24% of the company’s stock.

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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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