Reliance Steel & Aluminum Co (NYSE:RS) Receives Average Rating of “Hold” from Brokerages

Shares of Reliance Steel & Aluminum Co (NYSE:RS) have been given an average recommendation of “Hold” by the ten ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $100.00.

RS has been the subject of several recent research reports. Deutsche Bank set a $100.00 price objective on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Thursday, July 11th. Cowen set a $108.00 price objective on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Friday, July 26th. KeyCorp upped their price objective on Reliance Steel & Aluminum from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America reaffirmed a “neutral” rating and set a $98.00 price objective on shares of Reliance Steel & Aluminum in a research report on Friday, May 31st. Finally, Zacks Investment Research raised Reliance Steel & Aluminum from a “sell” rating to a “hold” rating and set a $108.00 price objective for the company in a research report on Monday, July 29th.

In other Reliance Steel & Aluminum news, VP Arthur Ajemyan sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $101.61, for a total value of $325,152.00. Following the sale, the vice president now owns 7,544 shares in the company, valued at $766,545.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.43% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Natixis boosted its holdings in shares of Reliance Steel & Aluminum by 45.0% during the 2nd quarter. Natixis now owns 43,817 shares of the industrial products company’s stock valued at $4,146,000 after acquiring an additional 13,590 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Reliance Steel & Aluminum during the 2nd quarter valued at $95,000. Barings LLC boosted its holdings in shares of Reliance Steel & Aluminum by 12.7% during the 2nd quarter. Barings LLC now owns 22,112 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 2,500 shares in the last quarter. UBS Group AG boosted its holdings in shares of Reliance Steel & Aluminum by 48.3% during the 2nd quarter. UBS Group AG now owns 147,884 shares of the industrial products company’s stock valued at $13,993,000 after acquiring an additional 48,188 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Reliance Steel & Aluminum by 56.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 905 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 327 shares in the last quarter. Institutional investors own 84.55% of the company’s stock.

NYSE:RS traded down $2.19 on Friday, reaching $95.57. The company’s stock had a trading volume of 419,253 shares, compared to its average volume of 574,546. Reliance Steel & Aluminum has a 1-year low of $68.62 and a 1-year high of $105.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.08 and a current ratio of 4.42. The firm has a market cap of $6.52 billion, a PE ratio of 10.69, a PEG ratio of 1.17 and a beta of 1.29. The business’s 50-day moving average price is $96.35 and its two-hundred day moving average price is $90.61.

Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.11. Reliance Steel & Aluminum had a return on equity of 12.85% and a net margin of 5.22%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm earned $3.10 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts expect that Reliance Steel & Aluminum will post 9.26 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.20 annualized dividend and a yield of 2.30%. Reliance Steel & Aluminum’s dividend payout ratio is 24.61%.

About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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

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