Reliance Steel & Aluminum (RS) Receiving Somewhat Favorable News Coverage, Analysis Shows

News stories about Reliance Steel & Aluminum (NYSE:RS) have been trending somewhat positive on Monday, according to Accern. Accern scores the sentiment of news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Reliance Steel & Aluminum earned a media sentiment score of 0.07 on Accern’s scale. Accern also gave news headlines about the industrial products company an impact score of 45.9810849814154 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

Here are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:

NYSE:RS traded up $0.91 during trading hours on Monday, hitting $87.53. The stock had a trading volume of 276,713 shares, compared to its average volume of 501,238. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 1.88. Reliance Steel & Aluminum has a one year low of $68.46 and a one year high of $95.97. The company has a market cap of $6,308.54, a price-to-earnings ratio of 16.09, a PEG ratio of 1.34 and a beta of 1.16.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.22. Reliance Steel & Aluminum had a net margin of 6.31% and a return on equity of 9.00%. The company had revenue of $2.38 billion during the quarter. During the same period in the prior year, the firm posted $0.84 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. equities research analysts expect that Reliance Steel & Aluminum will post 7.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were issued a dividend of $0.50 per share. This is an increase from Reliance Steel & Aluminum’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Thursday, March 15th. Reliance Steel & Aluminum’s payout ratio is currently 36.76%.

Several research analysts have commented on RS shares. KeyCorp raised their price target on shares of Reliance Steel & Aluminum from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. ValuEngine raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Cowen raised their price target on shares of Reliance Steel & Aluminum from $101.00 to $107.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Goldman Sachs started coverage on shares of Reliance Steel & Aluminum in a report on Tuesday, March 20th. They issued a “neutral” rating and a $103.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Reliance Steel & Aluminum presently has an average rating of “Buy” and a consensus target price of $89.88.

In other news, insider Gregg J. Mollins sold 30,332 shares of Reliance Steel & Aluminum stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $92.83, for a total transaction of $2,815,719.56. Following the completion of the sale, the insider now directly owns 201,895 shares of the company’s stock, valued at approximately $18,741,912.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas W. Gimbel sold 6,000 shares of Reliance Steel & Aluminum stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $92.31, for a total transaction of $553,860.00. Following the sale, the director now directly owns 1,726,425 shares of the company’s stock, valued at $159,366,291.75. The disclosure for this sale can be found here. Insiders have sold a total of 58,322 shares of company stock valued at $5,431,021 over the last ninety days. 3.24% of the stock is currently owned by insiders.

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About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

Insider Buying and Selling by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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