Reliance Steel & Aluminum Co. (RS) Shares Bought by State of Wisconsin Investment Board

State of Wisconsin Investment Board increased its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,113 shares of the industrial products company’s stock after acquiring an additional 180 shares during the period. State of Wisconsin Investment Board’s holdings in Reliance Steel & Aluminum Co. were worth $1,028,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. grew its holdings in Reliance Steel & Aluminum Co. by 5.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 8,216 shares of the industrial products company’s stock valued at $598,000 after buying an additional 392 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Reliance Steel & Aluminum Co. by 1.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,842 shares of the industrial products company’s stock valued at $425,000 after buying an additional 67 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in Reliance Steel & Aluminum Co. by 10.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 110,394 shares of the industrial products company’s stock valued at $8,038,000 after buying an additional 10,173 shares during the last quarter. Arizona State Retirement System grew its holdings in Reliance Steel & Aluminum Co. by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 30,700 shares of the industrial products company’s stock valued at $2,235,000 after buying an additional 400 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Reliance Steel & Aluminum Co. by 4.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 261,407 shares of the industrial products company’s stock valued at $19,034,000 after buying an additional 12,026 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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A number of research firms have issued reports on RS. BidaskClub raised Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Deutsche Bank AG reissued a “buy” rating on shares of Reliance Steel & Aluminum Co. in a report on Saturday, June 24th. Cowen and Company reissued a “buy” rating and set a $92.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and set a $72.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $83.00.

Reliance Steel & Aluminum Co. (NYSE:RS) traded down 0.877% during trading on Friday, hitting $71.795. The company had a trading volume of 421,408 shares. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 16.192 and a beta of 1.23. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58. The stock has a 50-day moving average of $72.11 and a 200 day moving average of $75.28.

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

The business also recently declared 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 2.48%. The ex-dividend date was Wednesday, August 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio is currently 40.54%.

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).

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

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