Natixis lifted its position in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 45.0% in the 2nd quarter, Holdings Channel reports. The fund owned 43,817 shares of the industrial products company’s stock after buying an additional 13,590 shares during the quarter. Natixis’ holdings in Reliance Steel & Aluminum were worth $4,146,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RS. FinTrust Capital Advisors LLC bought a new position in shares of Reliance Steel & Aluminum during the 2nd quarter worth $32,000. Parallel Advisors LLC grew its stake in shares of Reliance Steel & Aluminum by 166.0% during the 1st quarter. Parallel Advisors LLC now owns 532 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 332 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Reliance Steel & Aluminum during the 2nd quarter worth $53,000. Advisory Services Network LLC grew its stake in shares of Reliance Steel & Aluminum by 39.4% during the 2nd quarter. Advisory Services Network LLC now owns 619 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 175 shares during the period. Finally, Hilton Capital Management LLC bought a new position in shares of Reliance Steel & Aluminum during the 1st quarter worth $99,000. Institutional investors own 84.01% of the company’s stock.

In other Reliance Steel & Aluminum news, VP Arthur Ajemyan sold 3,200 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $101.61, for a total value of $325,152.00. Following the completion of the transaction, the vice president now owns 7,544 shares in the company, valued at approximately $766,545.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.43% of the stock is owned by company insiders.

NYSE RS traded up $0.64 during trading hours on Friday, hitting $104.38. The company had a trading volume of 102,779 shares, compared to its average volume of 509,993. Reliance Steel & Aluminum Co has a 52 week low of $68.62 and a 52 week high of $105.25. The firm has a 50 day simple moving average of $98.41 and a 200 day simple moving average of $91.95. 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 capitalization of $6.87 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.25 and a beta of 1.30.

Reliance Steel & Aluminum (NYSE:RS) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.71 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company earned $3.10 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts forecast that Reliance Steel & Aluminum Co will post 9.18 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a $0.55 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.20 annualized dividend and a yield of 2.11%. Reliance Steel & Aluminum’s dividend payout ratio is currently 24.61%.

Several research firms have recently weighed in on RS. Bank of America reiterated a “neutral” rating and set a $98.00 price target on shares of Reliance Steel & Aluminum in a research note on Friday, May 31st. Citigroup set a $104.00 price target on Reliance Steel & Aluminum and gave the stock a “hold” rating in a research note on Friday, July 26th. Cowen set a $108.00 price target on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research note on Friday, July 26th. Deutsche Bank set a $100.00 price target on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, ValuEngine downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Reliance Steel & Aluminum currently has a consensus rating of “Hold” and an average price target of $99.89.

Reliance Steel & Aluminum Company Profile

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

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