Retirement Systems of Alabama Sells 4,025 Shares of Reliance Steel & Aluminum Co (RS)

Retirement Systems of Alabama lowered its position in Reliance Steel & Aluminum Co (NYSE:RS) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,715 shares of the industrial products company’s stock after selling 4,025 shares during the period. Retirement Systems of Alabama owned about 0.24% of Reliance Steel & Aluminum worth $14,416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its holdings in shares of Reliance Steel & Aluminum by 7,017.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,033,327 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 2,004,757 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Reliance Steel & Aluminum by 982.9% in the 4th quarter. Advisory Services Network LLC now owns 444 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 403 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in shares of Reliance Steel & Aluminum by 49.1% in the 4th quarter. First Mercantile Trust Co. now owns 790 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 260 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Reliance Steel & Aluminum in the 1st quarter valued at $60,000. Finally, Bell Rock Capital LLC boosted its holdings in shares of Reliance Steel & Aluminum by 70.5% in the 4th quarter. Bell Rock Capital LLC now owns 856 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Reliance Steel & Aluminum stock traded up $1.04 during midday trading on Friday, hitting $91.31. 499,186 shares of the stock were exchanged, compared to its average volume of 373,872. Reliance Steel & Aluminum Co has a 1 year low of $68.62 and a 1 year high of $97.41. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.06 and a quick ratio of 1.85.

Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, April 25th. The industrial products company reported $2.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.42. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.97 billion. Reliance Steel & Aluminum had a net margin of 5.58% and a return on equity of 13.70%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.30 EPS. Analysts forecast that Reliance Steel & Aluminum Co will post 9.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, May 23rd. Reliance Steel & Aluminum’s payout ratio is currently 24.61%.

Several equities analysts recently weighed in on RS shares. Longbow Research lowered shares of Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 target price on the stock. in a report on Thursday, April 18th. Cowen restated an “outperform” rating and set a $95.00 target price (up previously from $80.00) on shares of Reliance Steel & Aluminum in a report on Tuesday, February 26th. Finally, Jefferies Financial Group lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and reduced their target price for the company from $105.00 to $100.00 in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $92.40.

In related news, Director Gregg J. Mollins sold 25,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $91.81, for a total transaction of $2,295,250.00. The sale 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 the business’s 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 transaction, the director now directly owns 6,893 shares of the company’s stock, valued at $613,821.65. The disclosure for this sale can be found here. Insiders sold a total of 142,570 shares of company stock valued at $12,757,514 in the last three months. Insiders own 3.43% 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.

Read More: Price to Earnings Ratio (PE)

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

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