Reliance Steel & Aluminum (NYSE:RS) Downgraded to Hold at ValuEngine

ValuEngine cut shares of Reliance Steel & Aluminum (NYSE:RS) from a buy rating to a hold rating in a research report report published on Thursday, November 9th.

A number of other equities research analysts have also commented on the company. Bank of America restated a buy rating and set a $89.00 price target (up from $88.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, September 5th. Jefferies Group reiterated a hold rating on shares of Reliance Steel & Aluminum in a research report on Thursday, August 31st. Cowen reiterated a buy rating and issued a $92.00 price objective on shares of Reliance Steel & Aluminum in a research report on Friday, September 1st. Zacks Investment Research lowered Reliance Steel & Aluminum from a buy rating to a hold rating in a research report on Wednesday, October 18th. Finally, BidaskClub lowered Reliance Steel & Aluminum from a hold rating to a sell rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum presently has an average rating of Hold and a consensus price target of $82.00.

Reliance Steel & Aluminum (RS) opened at $76.36 on Thursday. Reliance Steel & Aluminum has a twelve month low of $68.46 and a twelve month high of $88.58. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $5,527.71, a P/E ratio of 14.98, a PEG ratio of 1.62 and a beta of 1.28.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $0.45 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.36%. Reliance Steel & Aluminum’s dividend payout ratio is currently 35.43%.

Several large investors have recently bought and sold shares of RS. Grove Bank & Trust boosted its position in shares of Reliance Steel & Aluminum by 117.8% in the 3rd quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 860 shares during the last quarter. Huntington National Bank boosted its position in shares of Reliance Steel & Aluminum by 267.8% in the 3rd quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 1,173 shares during the last quarter. Zions Bancorporation bought a new position in shares of Reliance Steel & Aluminum in the 3rd quarter worth $144,000. Global X Management Co. LLC boosted its position in shares of Reliance Steel & Aluminum by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of Reliance Steel & Aluminum in the 3rd quarter worth $201,000. Institutional investors and hedge funds own 82.30% of the company’s stock.

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About Reliance Steel & Aluminum

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Reliance Steel & Aluminum (NYSE:RS)

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