Twin Tree Management LP Acquires Shares of 3,481 Reliance Steel & Aluminum Co. (RS)

Twin Tree Management LP acquired a new position in shares of Reliance Steel & Aluminum Co. (NYSE:RS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,481 shares of the industrial products company’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in Reliance Steel & Aluminum during the 4th quarter worth about $106,000. Mitchell Capital Management Co. acquired a new stake in Reliance Steel & Aluminum during the 4th quarter worth about $240,000. Virtu Financial LLC acquired a new stake in Reliance Steel & Aluminum during the 4th quarter worth about $240,000. Paloma Partners Management Co purchased a new stake in shares of Reliance Steel & Aluminum during the 4th quarter worth about $246,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Reliance Steel & Aluminum during the 1st quarter worth about $249,000. Hedge funds and other institutional investors own 83.50% of the company’s stock.

RS opened at $96.15 on Friday. Reliance Steel & Aluminum Co. has a fifty-two week low of $68.46 and a fifty-two week high of $96.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.93 and a quick ratio of 1.76. The stock has a market cap of $6.90 billion, a PE ratio of 15.34, a PEG ratio of 1.25 and a beta of 1.18.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.22. Reliance Steel & Aluminum had a return on equity of 10.01% and a net margin of 6.67%. The business had revenue of $2.38 billion for the quarter. During the same period in the previous year, the business posted $0.84 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. research analysts forecast that Reliance Steel & Aluminum Co. will post 8.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 24th. Reliance Steel & Aluminum’s payout ratio is 36.76%.

In related news, insider Gregg J. Mollins sold 30,332 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $92.83, for a total value of $2,815,719.56. Following the transaction, the insider now directly owns 201,895 shares of the company’s stock, valued at approximately $18,741,912.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregg J. Mollins sold 8,990 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $94.89, for a total value of $853,061.10. Following the completion of the transaction, the chief executive officer now directly owns 201,895 shares in the company, valued at $19,157,816.55. The disclosure for this sale can be found here. Insiders sold a total of 58,322 shares of company stock worth $5,431,021 over the last three months. 3.24% of the stock is owned by company insiders.

A number of equities research analysts have recently weighed in on RS shares. Zacks Investment Research raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Tuesday, April 17th. Deutsche Bank cut their price target on Reliance Steel & Aluminum from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, March 29th. ValuEngine raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Longbow Research raised Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. Finally, Goldman Sachs started coverage on Reliance Steel & Aluminum in a research note on Tuesday, March 20th. They set a “neutral” rating and a $103.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $96.71.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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