Sei Investments Co. Raises Holdings in Reliance Steel & Aluminum Co. (RS)

Sei Investments Co. grew its position in Reliance Steel & Aluminum Co. (NYSE:RS) by 44.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,704 shares of the industrial products company’s stock after buying an additional 6,098 shares during the quarter. Sei Investments Co.’s holdings in Reliance Steel & Aluminum were worth $1,501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Aperio Group LLC raised its position in shares of Reliance Steel & Aluminum by 8.5% in the 2nd quarter. Aperio Group LLC now owns 30,308 shares of the industrial products company’s stock worth $2,207,000 after acquiring an additional 2,384 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Reliance Steel & Aluminum by 29.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 4,989 shares of the industrial products company’s stock worth $363,000 after acquiring an additional 1,133 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Reliance Steel & Aluminum in the 2nd quarter worth $621,000. Daiwa Securities Group Inc. raised its position in shares of Reliance Steel & Aluminum by 17.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 56,200 shares of the industrial products company’s stock worth $4,092,000 after acquiring an additional 8,400 shares in the last quarter. Finally, Pioneer Investment Management Inc. bought a new position in shares of Reliance Steel & Aluminum in the 2nd quarter worth $22,470,000. Institutional investors and hedge funds own 82.34% of the company’s stock.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down $1.14 during trading hours on Wednesday, reaching $80.48. The company had a trading volume of 439,800 shares, compared to its average volume of 494,378. Reliance Steel & Aluminum Co. has a 12 month low of $68.46 and a 12 month high of $88.58. The firm has a market cap of $5,951.35, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.74 and a beta of 1.29. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43.

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

The company 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 of this dividend is Thursday, November 16th. This represents a $1.80 annualized dividend and a yield of 2.24%. Reliance Steel & Aluminum’s payout ratio is presently 35.43%.

Several research analysts have recently commented on RS shares. ValuEngine raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Bank of America reissued a “buy” rating and issued 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 reissued a “hold” rating on shares of Reliance Steel & Aluminum in a research report on Thursday, August 31st. Cowen reissued a “buy” rating and issued a $92.00 price target on shares of Reliance Steel & Aluminum in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.83.

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Reliance Steel & Aluminum 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).

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

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