Royce & Associates LP decreased its stake in Reliance Steel & Aluminum Co. (NYSE:RS) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,019,717 shares of the industrial products company’s stock after selling 22,267 shares during the quarter. Royce & Associates LP owned approximately 1.40% of Reliance Steel & Aluminum worth $77,672,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its holdings in shares of Reliance Steel & Aluminum by 117.8% during the 3rd quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 860 shares in the last quarter. Huntington National Bank raised its holdings in shares of Reliance Steel & Aluminum by 267.8% during the 3rd quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 1,173 shares in the last quarter. Global X Management Co. LLC raised its holdings in shares of Reliance Steel & Aluminum by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 1,584 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Reliance Steel & Aluminum during the 3rd quarter valued at $201,000. Finally, NTV Asset Management LLC bought a new position in shares of Reliance Steel & Aluminum during the 3rd quarter valued at $209,000. Institutional investors own 82.34% of the company’s stock.

RS has been the topic of a number of recent research reports. ValuEngine upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Bank of America restated a “buy” rating and set a $89.00 price target (up previously from $88.00) on shares of Reliance Steel & Aluminum in a report on Tuesday, September 5th. Jefferies Group restated a “hold” rating on shares of Reliance Steel & Aluminum in a report on Thursday, August 31st. Cowen restated a “buy” rating and set a $92.00 price target on shares of Reliance Steel & Aluminum in a report on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. One equities research 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. The stock currently has a consensus rating of “Buy” and an average price target of $79.83.

Shares of Reliance Steel & Aluminum Co. (RS) traded down $1.14 on Wednesday, reaching $80.48. 439,800 shares of the company traded hands, compared to its average volume of 494,378. The company has a market cap of $5,951.35, a P/E ratio of 16.13, a PEG ratio of 1.74 and a beta of 1.29. Reliance Steel & Aluminum Co. has a 12-month low of $68.46 and a 12-month high of $88.58. 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 EPS for the quarter, topping the consensus estimate of $1.19 by $0.11. The firm had revenue of $2.45 billion for the quarter. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. equities research analysts forecast that Reliance Steel & Aluminum Co. will post 5.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a $0.45 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.80 annualized dividend and a yield of 2.24%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 35.43%.

TRADEMARK VIOLATION NOTICE: This story was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://theolympiareport.com/2017/12/06/reliance-steel-aluminum-co-rs-shares-sold-by-royce-associates-lp.html.

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).

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co. (NYSE:RS).

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

Receive News & Ratings for Reliance Steel & Aluminum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.