Reliance Steel & Aluminum Co. (RS) SVP Sells $92,860.87 in Stock

Reliance Steel & Aluminum Co. (NYSE:RS) SVP William A. Smith II sold 1,123 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $82.69, for a total transaction of $92,860.87. Following the completion of the transaction, the senior vice president now directly owns 15,320 shares in the company, valued at $1,266,810.80. The sale was disclosed in a document filed with the SEC, which is available at this link.

Reliance Steel & Aluminum Co. (RS) traded up $0.30 on Thursday, reaching $83.98. 368,400 shares of the company’s stock were exchanged, compared to its average volume of 493,220. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.06 and a quick ratio of 1.79. Reliance Steel & Aluminum Co. has a twelve month low of $68.46 and a twelve month high of $88.58. The stock has a market cap of $6,101.55, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.29.

Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The business had revenue of $2.45 billion for the quarter. During the same period last year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. sell-side analysts forecast that Reliance Steel & Aluminum Co. will post 5.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, November 16th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is 35.43%.

A number of research analysts recently weighed in on RS shares. Cowen reaffirmed a “buy” rating and issued a $92.00 price target on shares of Reliance Steel & Aluminum in a research note on Wednesday, October 4th. Bank of America reaffirmed a “buy” rating and issued a $89.00 price target (up from $88.00) on shares of Reliance Steel & Aluminum in a research note on Tuesday, September 5th. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Monday, October 16th. ValuEngine raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Finally, Clarkson Capital reissued a “buy” rating on shares of Reliance Steel & Aluminum in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Reliance Steel & Aluminum presently has an average rating of “Buy” and a consensus target price of $80.33.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board increased its holdings in shares of Reliance Steel & Aluminum by 172.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 402,112 shares of the industrial products company’s stock worth $29,278,000 after buying an additional 254,300 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Reliance Steel & Aluminum by 2.6% during the 3rd quarter. Prudential Financial Inc. now owns 771,216 shares of the industrial products company’s stock worth $58,744,000 after buying an additional 19,560 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Reliance Steel & Aluminum by 20.4% during the 2nd quarter. Wells Fargo & Company MN now owns 509,311 shares of the industrial products company’s stock worth $37,083,000 after buying an additional 86,238 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of Reliance Steel & Aluminum by 4.6% during the 3rd quarter. Nationwide Fund Advisors now owns 313,392 shares of the industrial products company’s stock worth $23,871,000 after buying an additional 13,909 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Reliance Steel & Aluminum during the 2nd quarter worth approximately $5,043,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/12/14/reliance-steel-aluminum-co-rs-svp-sells-92860-87-in-stock.html.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply