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Reliance Steel & Aluminum Co. (NYSE:RS - Get Rating) CEO James Donald Hoffman sold 10,000 shares of the firm's stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $183.31, for a total value of $1,833,100.00. Following the completion of the transaction, the chief executive officer now owns 132,738 shares of the company's stock, valued at approximately $24,332,202.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Reliance Steel & Aluminum Price Performance
Shares of NYSE RS traded down $3.61 during trading hours on Friday, reaching $178.27. 449,554 shares of the stock traded hands, compared to its average volume of 416,842. The company has a market capitalization of $10.75 billion, a P/E ratio of 6.01 and a beta of 0.83. The company has a quick ratio of 1.60, a current ratio of 3.02 and a debt-to-equity ratio of 0.17. Reliance Steel & Aluminum Co. has a 52-week low of $141.50 and a 52-week high of $211.65. The company's 50-day simple moving average is $186.24 and its two-hundred day simple moving average is $185.58.
Reliance Steel & Aluminum (NYSE:RS - Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The industrial products company reported $9.15 earnings per share for the quarter, beating analysts' consensus estimates of $9.06 by $0.09. The company had revenue of $4.68 billion for the quarter, compared to analysts' expectations of $4.61 billion. Reliance Steel & Aluminum had a return on equity of 30.46% and a net margin of 11.25%. Reliance Steel & Aluminum's revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period last year, the firm posted $5.06 EPS. Equities research analysts forecast that Reliance Steel & Aluminum Co. will post 28.28 EPS for the current year. Reliance Steel & Aluminum Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were paid a $0.875 dividend. The ex-dividend date was Thursday, August 18th. This represents a $3.50 dividend on an annualized basis and a yield of 1.96%. Reliance Steel & Aluminum's dividend payout ratio (DPR) is currently 11.56%. Wall Street Analyst Weigh In
Several research analysts have commented on the company. BMO Capital Markets initiated coverage on Reliance Steel & Aluminum in a research note on Monday, August 15th. They issued an "outperform" rating and a $230.00 target price for the company. StockNews.com downgraded Reliance Steel & Aluminum from a "strong-buy" rating to a "buy" rating in a research report on Thursday. KeyCorp dropped their price target on Reliance Steel & Aluminum from $215.00 to $207.00 and set an "overweight" rating for the company in a research report on Tuesday, July 19th. Finally, The Goldman Sachs Group downgraded Reliance Steel & Aluminum from a "buy" rating to a "neutral" rating and dropped their price target for the company from $218.00 to $201.00 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Reliance Steel & Aluminum currently has a consensus rating of "Moderate Buy" and a consensus price target of $218.80.Hedge Funds Weigh In On Reliance Steel & Aluminum
Large investors have recently bought and sold shares of the stock. Worth Asset Management LLC purchased a new position in Reliance Steel & Aluminum in the 1st quarter worth approximately $28,000. Denali Advisors LLC increased its stake in Reliance Steel & Aluminum by 100.0% in the 1st quarter. Denali Advisors LLC now owns 200 shares of the industrial products company's stock worth $37,000 after purchasing an additional 100 shares during the period. Penserra Capital Management LLC purchased a new position in Reliance Steel & Aluminum in the 1st quarter worth approximately $46,000. Rational Advisors LLC increased its stake in Reliance Steel & Aluminum by 50.6% in the 1st quarter. Rational Advisors LLC now owns 256 shares of the industrial products company's stock worth $47,000 after purchasing an additional 86 shares during the period. Finally, Pinebridge Investments L.P. grew its position in shares of Reliance Steel & Aluminum by 206.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 306 shares of the industrial products company's stock worth $52,000 after buying an additional 206 shares during the last quarter. 83.16% of the stock is owned by hedge funds and other institutional investors. About Reliance Steel & Aluminum (Get Rating)
Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.Further ReadingGet a free copy of the StockNews.com research report on Reliance Steel & Aluminum (RS)ConAgra Brands Is A Value Pick For Income Investors 3 Stocks With Market-Beating Price PerformanceLucid Motors May Test Investors' Resolve, But Should They Sell? Box Inc. Stock on Track to Become a Q4 WinnerAddentax Price Swings Give Reason To Wait
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