Reliance Steel & Aluminum Co (RS) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in Reliance Steel & Aluminum Co (NYSE:RS) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,817 shares of the industrial products company’s stock after selling 542 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Reliance Steel & Aluminum were worth $1,067,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in Reliance Steel & Aluminum by 7,017.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,033,327 shares of the industrial products company’s stock valued at $29,000 after buying an additional 2,004,757 shares in the last quarter. Victory Capital Management Inc. lifted its position in Reliance Steel & Aluminum by 23.8% during the fourth quarter. Victory Capital Management Inc. now owns 4,001,940 shares of the industrial products company’s stock valued at $284,819,000 after buying an additional 768,834 shares in the last quarter. Norges Bank acquired a new position in Reliance Steel & Aluminum during the fourth quarter valued at approximately $52,211,000. Poplar Forest Capital LLC lifted its position in Reliance Steel & Aluminum by 38.2% during the fourth quarter. Poplar Forest Capital LLC now owns 790,061 shares of the industrial products company’s stock valued at $56,229,000 after buying an additional 218,217 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Reliance Steel & Aluminum by 210.8% during the first quarter. BNP Paribas Arbitrage SA now owns 81,726 shares of the industrial products company’s stock valued at $7,377,000 after buying an additional 55,427 shares in the last quarter. 82.94% of the stock is currently owned by institutional investors and hedge funds.

RS opened at $89.32 on Wednesday. The company has a market cap of $5.90 billion, a PE ratio of 9.99, a PEG ratio of 1.07 and a beta of 1.26. Reliance Steel & Aluminum Co has a 52-week low of $68.62 and a 52-week 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.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.42. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.97 billion. Reliance Steel & Aluminum had a net margin of 5.58% and a return on equity of 13.70%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.30 earnings per share. Equities research analysts predict that Reliance Steel & Aluminum Co will post 9.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.46%. Reliance Steel & Aluminum’s dividend payout ratio is currently 24.61%.

A number of research analysts have weighed in on RS shares. Citigroup set a $98.00 price target on shares of Reliance Steel & Aluminum and gave the company a “hold” rating in a research report on Monday. Jefferies Financial Group lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $100.00 in a research note on Friday, April 26th. Cowen reiterated an “outperform” rating and set a $95.00 price objective (up previously from $80.00) on shares of Reliance Steel & Aluminum in a research note on Tuesday, February 26th. Finally, Longbow Research lowered shares of Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a research note on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Reliance Steel & Aluminum currently has an average rating of “Hold” and a consensus price target of $93.20.

In related news, SVP William A. Smith II sold 3,025 shares of Reliance Steel & Aluminum stock in a transaction on Monday, February 25th. The shares were sold at an average price of $90.63, for a total value of $274,155.75. Following the completion of the sale, the senior vice president now owns 25,505 shares in the company, valued at $2,311,518.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregg J. Mollins sold 49,290 shares of Reliance Steel & Aluminum stock in a transaction on Monday, March 4th. The stock was sold at an average price of $89.34, for a total transaction of $4,403,568.60. 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 quarter. 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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Institutional Ownership by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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