Reliance Steel & Aluminum Co. (NYSE:RS) Stock Rating Lowered by ValuEngine

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

RS has been the subject of a number of other research reports. Cowen and Company reissued a buy rating and set a $92.00 target price on shares of Reliance Steel & Aluminum Co. in a research report on Friday, September 1st. Zacks Investment Research raised shares of Reliance Steel & Aluminum Co. from a hold rating to a buy rating and set a $86.00 target price for the company in a research report on Monday, October 16th. Jefferies Group LLC reissued a hold rating and set a $72.00 target price on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, July 19th. Bank of America Corporation reissued a buy rating and set a $89.00 target price (up previously from $88.00) on shares of Reliance Steel & Aluminum Co. in a research report on Tuesday, September 5th. Finally, Macquarie started coverage on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, September 6th. They set an outperform rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $82.00.

Shares of Reliance Steel & Aluminum Co. (NYSE RS) traded up $0.02 on Thursday, hitting $76.27. 230,109 shares of the stock traded hands, compared to its average volume of 495,625. Reliance Steel & Aluminum Co. has a 52-week low of $68.46 and a 52-week high of $88.58. The stock has a market cap of $5,511.67, a PE ratio of 14.94, a PEG ratio of 1.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.06 and a quick ratio of 1.79.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its quarterly earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum Co. had a net margin of 3.97% and a return on equity of 8.61%. The firm had revenue of $2.45 billion during the quarter. During the same period in the previous year, the company posted $1.25 EPS. Reliance Steel & Aluminum Co.’s revenue for the quarter was up 12.1% on a year-over-year basis. equities analysts expect that Reliance Steel & Aluminum Co. will post 5.16 earnings per share for the current fiscal year.

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

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its stake in shares of Reliance Steel & Aluminum Co. by 19.6% in the third quarter. Public Employees Retirement System of Ohio now owns 168,616 shares of the industrial products company’s stock worth $12,843,000 after acquiring an additional 27,681 shares during the period. Hahn Capital Management LLC increased its stake in shares of Reliance Steel & Aluminum Co. by 1.0% in the third quarter. Hahn Capital Management LLC now owns 327,036 shares of the industrial products company’s stock worth $24,910,000 after acquiring an additional 3,118 shares during the period. California Public Employees Retirement System increased its stake in shares of Reliance Steel & Aluminum Co. by 9.1% in the third quarter. California Public Employees Retirement System now owns 189,237 shares of the industrial products company’s stock worth $14,414,000 after acquiring an additional 15,717 shares during the period. Zions Bancorporation acquired a new stake in shares of Reliance Steel & Aluminum Co. in the third quarter worth $144,000. Finally, Marianas Fund Management LLC increased its stake in shares of Reliance Steel & Aluminum Co. by 89.7% in the third quarter. Marianas Fund Management LLC now owns 97,700 shares of the industrial products company’s stock worth $7,442,000 after acquiring an additional 46,200 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

About Reliance Steel & Aluminum Co.

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).

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

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