Posted by admin on Jul 24th, 2022

Kestra Advisory Services LLC increased its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS – Get Rating) by 17.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,899 shares of the industrial products company’s stock after buying an additional 283 shares during the period. Kestra Advisory Services LLC’s holdings in Reliance Steel & Aluminum were worth $348,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rational Advisors LLC purchased a new stake in Reliance Steel & Aluminum during the fourth quarter valued at about $28,000. Denali Advisors LLC lifted its holdings in Reliance Steel & Aluminum by 100.0% during the first quarter. Denali Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 100 shares during the last quarter. National Bank of Canada FI purchased a new stake in Reliance Steel & Aluminum during the fourth quarter valued at about $33,000. Sageworth Trust Co of South Dakota purchased a new stake in Reliance Steel & Aluminum during the fourth quarter valued at about $33,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in Reliance Steel & Aluminum by 704.3% during the first quarter. Rosenberg Matthew Hamilton now owns 378 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 81.84% of the company’s stock.

Reliance Steel & Aluminum stock opened at $180.73 on Friday. Reliance Steel & Aluminum Co. has a fifty-two week low of $135.46 and a fifty-two week high of $211.65. 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 $11.20 billion, a P/E ratio of 6.90 and a beta of 0.81. The firm’s fifty day moving average price is $180.45 and its 200-day moving average price is $179.74.

Reliance Steel & Aluminum (NYSE:RS – Get Rating) last released its earnings results on Thursday, April 28th. The industrial products company reported $8.42 EPS for the quarter, beating analysts’ consensus estimates of $7.20 by $1.22. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Reliance Steel & Aluminum had a return on equity of 27.94% and a net margin of 10.61%. The firm’s revenue was up 58.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.10 earnings per share. On average, equities research analysts expect that Reliance Steel & Aluminum Co. will post 26.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 27th were paid a $0.875 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $3.50 dividend on an annualized basis and a yield of 1.94%. Reliance Steel & Aluminum’s dividend payout ratio is presently 13.36%.

Several equities research analysts have commented on RS shares. KeyCorp dropped their price objective on shares of Reliance Steel & Aluminum from $215.00 to $207.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. BNP Paribas raised Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a report on Thursday, April 14th. The Goldman Sachs Group reduced their target price on Reliance Steel & Aluminum from $234.00 to $218.00 in a report on Tuesday, July 12th. StockNews.com raised Reliance Steel & Aluminum from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Exane BNP Paribas raised Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a report on Thursday, April 14th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $203.50.

In other Reliance Steel & Aluminum news, VP Jeffrey Wayne Durham sold 10,000 shares of the business’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $196.06, for a total value of $1,960,600.00. Following the completion of the sale, the vice president now directly owns 19,071 shares of the company’s stock, valued at $3,739,060.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by insiders.

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.

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