Reliance Steel & Aluminum Co. (NYSE:RS) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Reliance Steel & Aluminum Co. (NYSE:RSGet Rating) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 142,732 shares of the industrial products company’s stock after selling 4,531 shares during the quarter. California Public Employees Retirement System’s holdings in Reliance Steel & Aluminum were worth $23,154,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Reliance Steel & Aluminum by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,202,828 shares of the industrial products company’s stock worth $313,735,000 after purchasing an additional 7,859 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Reliance Steel & Aluminum by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 2,196,588 shares of the industrial products company’s stock worth $356,330,000 after purchasing an additional 364,582 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Reliance Steel & Aluminum by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,155,113 shares of the industrial products company’s stock worth $306,931,000 after purchasing an additional 245,179 shares during the last quarter. Yacktman Asset Management LP acquired a new position in shares of Reliance Steel & Aluminum in the 4th quarter worth approximately $170,899,000. Finally, Royal London Asset Management Ltd. grew its stake in shares of Reliance Steel & Aluminum by 6.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 903,935 shares of the industrial products company’s stock worth $146,659,000 after purchasing an additional 56,005 shares during the last quarter. 81.84% of the stock is currently owned by institutional investors.

In other Reliance Steel & Aluminum news, VP Stephen Paul Koch sold 24,474 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $184.59, for a total value of $4,517,655.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey Wayne Durham sold 10,000 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $196.06, for a total transaction of $1,960,600.00. Following the completion of the transaction, the vice president now directly owns 19,071 shares in the company, valued at approximately $3,739,060.26. The disclosure for this sale can be found here. Insiders sold 135,634 shares of company stock valued at $24,280,557 over the last quarter. Corporate insiders own 0.62% of the company’s stock.

Several brokerages have recently issued reports on RS. Exane BNP Paribas raised shares of Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 14th. BNP Paribas upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a report on Thursday, April 14th. Citigroup raised their target price on shares of Reliance Steel & Aluminum from $200.00 to $230.00 in a report on Friday, April 29th. Wolfe Research upgraded shares of Reliance Steel & Aluminum from a “market perform” rating to an “outperform” rating and set a $226.00 target price for the company in a report on Thursday, April 28th. Finally, StockNews.com upgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 28th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $191.75.

RS stock opened at $186.49 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.28 and a current ratio of 3.96. The stock has a market cap of $11.55 billion, a P/E ratio of 7.12 and a beta of 0.76. The firm has a 50 day simple moving average of $190.71 and a 200 day simple moving average of $172.02. Reliance Steel & Aluminum Co. has a 52 week low of $135.46 and a 52 week high of $211.65.

Reliance Steel & Aluminum (NYSE:RSGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The industrial products company reported $8.42 EPS for the quarter, topping the consensus estimate of $7.14 by $1.28. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Reliance Steel & Aluminum had a net margin of 10.61% and a return on equity of 27.94%. The firm’s quarterly revenue was up 58.0% compared to the same quarter last year. During the same period last year, the company posted $4.10 earnings per share. Sell-side analysts predict that Reliance Steel & Aluminum Co. will post 25.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Thursday, May 26th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 13.36%.

Reliance Steel & Aluminum Profile (Get Rating)

Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.

Further Reading

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

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