Reliance Steel & Aluminum Co (NYSE:RS) VP Stephen Paul Koch sold 6,040 shares of Reliance Steel & Aluminum stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $116.31, for a total value of $702,512.40. Following the completion of the transaction, the vice president now owns 12,360 shares of the company’s stock, valued at $1,437,591.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE:RS opened at $118.03 on Wednesday. The company’s fifty day moving average price is $113.43 and its 200-day moving average price is $99.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.01 and a quick ratio of 1.90. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.37 and a beta of 1.35. Reliance Steel & Aluminum Co has a one year low of $68.62 and a one year high of $120.85.
Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, October 24th. The industrial products company reported $2.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.44. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Reliance Steel & Aluminum had a return on equity of 12.52% and a net margin of 5.48%. The firm’s revenue was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 earnings per share. As a group, equities research analysts expect that Reliance Steel & Aluminum Co will post 9.6 EPS for the current year.
Several equities research analysts have recently weighed in on the company. Longbow Research upgraded Reliance Steel & Aluminum from an “underperform” rating to a “neutral” rating in a research report on Friday, September 6th. Deutsche Bank lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and lifted their price objective for the company from $105.00 to $110.00 in a research note on Wednesday, October 30th. Bank of America set a $115.00 target price on Reliance Steel & Aluminum and gave the stock a “hold” rating in a research note on Friday, October 25th. KeyCorp raised their price target on Reliance Steel & Aluminum from $107.00 to $109.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Cowen reiterated an “outperform” rating and set a $123.00 price target (up previously from $107.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Reliance Steel & Aluminum has an average rating of “Hold” and an average price target of $107.40.
Several hedge funds have recently added to or reduced their stakes in RS. FinTrust Capital Advisors LLC bought a new position in Reliance Steel & Aluminum during the 2nd quarter worth approximately $32,000. Rehmann Capital Advisory Group raised its position in Reliance Steel & Aluminum by 997.4% during the 2nd quarter. Rehmann Capital Advisory Group now owns 417 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 379 shares during the last quarter. Advisory Services Network LLC raised its position in Reliance Steel & Aluminum by 39.4% during the 2nd quarter. Advisory Services Network LLC now owns 619 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 175 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Reliance Steel & Aluminum by 50.9% in the 2nd quarter. Parallel Advisors LLC now owns 803 shares of the industrial products company’s stock worth $76,000 after buying an additional 271 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Reliance Steel & Aluminum by 56.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 905 shares of the industrial products company’s stock worth $86,000 after buying an additional 327 shares during the period. 83.17% of the stock is currently owned by institutional investors.
Reliance Steel & Aluminum Company 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.
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