BB&T Securities LLC Increases Position in Reliance Steel & Aluminum Co. (NYSE:RS)

BB&T Securities LLC lifted its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 25.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,266 shares of the industrial products company’s stock after acquiring an additional 664 shares during the period. BB&T Securities LLC’s holdings in Reliance Steel & Aluminum Co. were worth $237,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cornerstone Capital Inc. increased its position in shares of Reliance Steel & Aluminum Co. by 2.7% in the second quarter. Cornerstone Capital Inc. now owns 131,742 shares of the industrial products company’s stock worth $9,592,000 after acquiring an additional 3,402 shares in the last quarter. BARING ASSET MANAGEMENT Ltd increased its position in shares of Reliance Steel & Aluminum Co. by 1.8% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 88,022 shares of the industrial products company’s stock worth $6,409,000 after acquiring an additional 1,574 shares in the last quarter. Comerica Bank increased its position in shares of Reliance Steel & Aluminum Co. by 0.6% in the second quarter. Comerica Bank now owns 59,769 shares of the industrial products company’s stock worth $4,447,000 after acquiring an additional 381 shares in the last quarter. Legal & General Group Plc increased its position in shares of Reliance Steel & Aluminum Co. by 8.2% in the second quarter. Legal & General Group Plc now owns 107,234 shares of the industrial products company’s stock worth $7,814,000 after acquiring an additional 8,135 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Reliance Steel & Aluminum Co. by 94.5% in the second quarter. SG Americas Securities LLC now owns 30,815 shares of the industrial products company’s stock worth $2,244,000 after acquiring an additional 14,968 shares in the last quarter. 82.50% of the stock is owned by institutional investors.

RS has been the subject of several recent research reports. BidaskClub raised shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Deutsche Bank AG reissued a “buy” rating on shares of Reliance Steel & Aluminum Co. in a research report on Saturday, June 24th. KeyCorp reissued an “overweight” rating and issued a $81.00 price objective (down previously from $85.00) on shares of Reliance Steel & Aluminum Co. in a research report on Monday, June 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $72.00 price target on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, July 19th. Finally, Cowen and Company set a $92.00 price target on shares of Reliance Steel & Aluminum Co. and gave the company an “outperform” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Reliance Steel & Aluminum Co. has a consensus rating of “Buy” and an average target price of $83.00.

Reliance Steel & Aluminum Co. (NYSE:RS) opened at 74.35 on Friday. Reliance Steel & Aluminum Co. has a 1-year low of $65.10 and a 1-year high of $88.58. The company has a market capitalization of $5.42 billion, a P/E ratio of 16.77 and a beta of 1.23. The firm’s 50-day moving average is $72.14 and its 200-day moving average is $74.87.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.45). Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. Equities research analysts predict that Reliance Steel & Aluminum Co. will post $5.16 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Wednesday, August 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is currently 40.54%.

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Reliance Steel & Aluminum Co. 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).

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

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