Reliance Steel & Aluminum Co (RS) Holdings Reduced by Mutual of America Capital Management LLC

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Mutual of America Capital Management LLC reduced its position in Reliance Steel & Aluminum Co (NYSE:RS) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 61,153 shares of the industrial products company’s stock after selling 1,184 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Reliance Steel & Aluminum were worth $5,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RS. Vident Investment Advisory LLC grew its holdings in shares of Reliance Steel & Aluminum by 1.5% during the 2nd quarter. Vident Investment Advisory LLC now owns 38,552 shares of the industrial products company’s stock valued at $3,375,000 after purchasing an additional 576 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of Reliance Steel & Aluminum by 3.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock valued at $1,418,000 after purchasing an additional 600 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Reliance Steel & Aluminum by 107.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 750 shares during the last quarter. Alpha Windward LLC grew its holdings in shares of Reliance Steel & Aluminum by 13.7% during the 3rd quarter. Alpha Windward LLC now owns 6,476 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 780 shares during the last quarter. Finally, Yorktown Management & Research Co Inc grew its holdings in shares of Reliance Steel & Aluminum by 7.2% during the 2nd quarter. Yorktown Management & Research Co Inc now owns 11,900 shares of the industrial products company’s stock valued at $1,042,000 after purchasing an additional 800 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

RS has been the topic of several research reports. Bank of America lowered shares of Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 price target on the stock. in a report on Friday, September 7th. KeyCorp decreased their price target on shares of Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, September 10th. Longbow Research lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a report on Monday, October 22nd. Macquarie set a $96.00 price target on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Friday, October 26th. Finally, Zacks Investment Research lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $94.60.

In related news, Director David H. Hannah sold 28,080 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $2,246,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William A. Smith II sold 5,582 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $78.98, for a total transaction of $440,866.36. The disclosure for this sale can be found here. 3.24% of the stock is owned by company insiders.

NYSE:RS opened at $75.91 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 4.40. Reliance Steel & Aluminum Co has a one year low of $74.65 and a one year high of $97.41. The company has a market cap of $5.50 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16.

Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Thursday, October 25th. The industrial products company reported $2.42 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.27). Reliance Steel & Aluminum had a return on equity of 13.58% and a net margin of 7.66%. The business had revenue of $2.97 billion for the quarter. On average, analysts expect that Reliance Steel & Aluminum Co will post 9.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $2.00 annualized dividend and a yield of 2.63%. Reliance Steel & Aluminum’s dividend payout ratio is presently 36.76%.

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About Reliance Steel & Aluminum

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.

Further Reading: Why does a company issue an IPO?

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co (NYSE:RS).

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

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