Moody Aldrich Partners LLC decreased its position in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,709 shares of the industrial products company’s stock after selling 2,240 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Reliance Steel & Aluminum were worth $1,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RS. Synovus Financial Corp bought a new position in Reliance Steel & Aluminum during the 1st quarter valued at $43,000. Ellevest Inc. grew its position in Reliance Steel & Aluminum by 367.0% during the first quarter. Ellevest Inc. now owns 537 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 422 shares during the last quarter. Twin Tree Management LP bought a new position in shares of Reliance Steel & Aluminum during the 1st quarter valued at $48,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Reliance Steel & Aluminum by 183.1% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 603 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 390 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Reliance Steel & Aluminum by 296.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 650 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 486 shares during the last quarter. 82.89% of the stock is currently owned by hedge funds and other institutional investors.

NYSE RS traded down $1.30 during trading on Friday, hitting $98.26. The company’s stock had a trading volume of 345,277 shares, compared to its average volume of 346,162. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.25 and a quick ratio of 1.92. The company has a market cap of $6.26 billion, a PE ratio of 11.37, a P/E/G ratio of 1.84 and a beta of 1.12. The business’s 50 day simple moving average is $95.02 and its 200-day simple moving average is $97.68. Reliance Steel & Aluminum Co has a fifty-two week low of $70.57 and a fifty-two week high of $122.17.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.96. Reliance Steel & Aluminum had a return on equity of 11.52% and a net margin of 4.83%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the business earned $2.71 earnings per share. The business’s revenue was down 30.0% compared to the same quarter last year. Analysts expect that Reliance Steel & Aluminum Co will post 5.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Thursday, August 13th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 24.18%.

RS has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Reliance Steel & Aluminum from $117.00 to $99.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Citigroup raised their price objective on shares of Reliance Steel & Aluminum from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday. ValuEngine lowered shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Finally, TheStreet upgraded shares of Reliance Steel & Aluminum from a “c+” rating to a “b-” rating in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Reliance Steel & Aluminum currently has a consensus rating of “Hold” and a consensus price target of $110.70.

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

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