Epoch Investment Partners Inc. increased its stake in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,743 shares of the industrial products company’s stock after acquiring an additional 21,607 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Reliance Steel & Aluminum were worth $38,358,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RS. Aperio Group LLC grew its position in Reliance Steel & Aluminum by 28.6% during the 2nd quarter. Aperio Group LLC now owns 42,912 shares of the industrial products company’s stock worth $3,757,000 after purchasing an additional 9,550 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Reliance Steel & Aluminum during the 2nd quarter worth $237,000. TD Asset Management Inc. grew its position in Reliance Steel & Aluminum by 85.6% during the 2nd quarter. TD Asset Management Inc. now owns 8,296 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 3,825 shares during the last quarter. Virginia Retirement Systems ET AL grew its position in Reliance Steel & Aluminum by 3.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock worth $1,418,000 after purchasing an additional 600 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Reliance Steel & Aluminum during the 2nd quarter worth $1,709,000. 83.18% of the stock is currently owned by institutional investors.

Shares of NYSE RS opened at $78.02 on Friday. The company has a quick ratio of 1.92, a current ratio of 4.40 and a debt-to-equity ratio of 0.39. Reliance Steel & Aluminum Co has a 52 week low of $74.65 and a 52 week high of $97.41. The stock has a market capitalization of $5.50 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.90 and a beta of 1.16.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, October 25th. The industrial products company reported $2.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.69 by ($0.27). Reliance Steel & Aluminum had a net margin of 7.66% and a return on equity of 13.58%. The company had revenue of $2.97 billion during the quarter. As a group, research analysts anticipate that Reliance Steel & Aluminum Co will post 9.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, November 15th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is 36.76%.

Several brokerages have recently weighed in on RS. Bank of America downgraded shares of Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 target price on the stock. in a report on Friday, September 7th. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Wednesday, September 5th. Citigroup downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Deutsche Bank downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and lowered their target price for the company from $100.00 to $90.00 in a report on Tuesday, October 2nd. Finally, KeyCorp lowered their target price on shares of Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, September 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $94.60.

In other Reliance Steel & Aluminum news, Director David H. Hannah sold 28,080 shares of Reliance Steel & Aluminum stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $2,246,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William A. Smith II sold 5,582 shares of Reliance Steel & Aluminum stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $78.98, for a total transaction of $440,866.36. The disclosure for this sale can be found here. 3.24% of the stock is owned by company 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.

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

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