Laurion Capital Management LP bought a new position in shares of Reliance Steel & Aluminum Co. (NYSE:RS) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,500 shares of the industrial products company’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. A.R.T. Advisors LLC bought a new stake in shares of Reliance Steel & Aluminum Co. during the fourth quarter worth $1,893,000. Scotia Capital Inc. bought a new stake in shares of Reliance Steel & Aluminum Co. during the fourth quarter worth $361,000. Menta Capital LLC bought a new stake in shares of Reliance Steel & Aluminum Co. during the fourth quarter worth $386,000. Renaissance Technologies LLC bought a new stake in shares of Reliance Steel & Aluminum Co. during the fourth quarter worth $12,306,000. Finally, Pacad Investment Ltd. boosted its stake in shares of Reliance Steel & Aluminum Co. by 66.7% in the fourth quarter. Pacad Investment Ltd. now owns 7,500 shares of the industrial products company’s stock worth $597,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 83.68% of the company’s stock.

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

Reliance Steel & Aluminum Co. (NYSE RS) traded up 0.92% during trading on Friday, hitting $72.44. The company had a trading volume of 949,221 shares. The stock has a market capitalization of $5.28 billion, a PE ratio of 16.42 and a beta of 1.25. The stock has a 50-day moving average of $74.08 and a 200-day moving average of $79.64. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings results on Thursday, April 27th. The industrial products company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.10. Reliance Steel & Aluminum Co. had a net margin of 3.65% and a return on equity of 8.71%. The company had revenue of $2.42 billion during the quarter. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts anticipate that Reliance Steel & Aluminum Co. will post $5.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 26th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $1.80 annualized dividend and a yield of 2.48%. Reliance Steel & Aluminum Co.’s dividend payout ratio is currently 40.72%.

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A number of brokerages have weighed in on RS. BidaskClub raised Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Bank of America Corporation raised Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, May 23rd. They noted that the move was a valuation call. Barclays PLC reaffirmed a “hold” rating and issued a $59.00 price target on shares of Reliance Steel & Aluminum Co. in a research report on Monday, May 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $77.00 price target (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a research report on Friday, April 28th. Finally, Longbow Research started coverage on Reliance Steel & Aluminum Co. in a research report on Wednesday, April 19th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.25.

Reliance Steel & Aluminum Co. Company 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).

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