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Reliance Steel & Aluminum Co. (NYSE:RS - Get Rating) announced a quarterly dividend on Friday, July 29th, Wall Street Journal reports. Investors of record on Friday, August 19th will be paid a dividend of 0.875 per share by the industrial products company on Friday, September 2nd. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Thursday, August 18th.

Reliance Steel & Aluminum has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Reliance Steel & Aluminum to earn $17.97 per share next year, which means the company should continue to be able to cover its $3.50 annual dividend with an expected future payout ratio of 19.5%. Reliance Steel & Aluminum Stock Up 2.1 %

Shares of Reliance Steel & Aluminum stock traded up $3.92 during trading on Friday, reaching $190.25. The stock had a trading volume of 469,161 shares, compared to its average volume of 422,110. Reliance Steel & Aluminum has a 52 week low of $135.46 and a 52 week high of $211.65. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 7.11 and a beta of 0.81. The company has a current ratio of 3.96, a quick ratio of 2.28 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $180.52 and a two-hundred day moving average price of $180.31.

Reliance Steel & Aluminum (NYSE:RS - Get Rating) last released its earnings results on Thursday, July 28th. The industrial products company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $9.02 by $0.13. Reliance Steel & Aluminum had a return on equity of 27.94% and a net margin of 10.61%. The firm had revenue of $4.68 billion during the quarter, compared to analysts' expectations of $4.61 billion. During the same period in the prior year, the company earned $5.06 earnings per share. The company's quarterly revenue was up 36.9% on a year-over-year basis. Sell-side analysts predict that Reliance Steel & Aluminum will post 26.5 EPS for the current fiscal year. Analyst Upgrades and Downgrades

A number of brokerages recently commented on RS. Citigroup lifted their price target on Reliance Steel & Aluminum from $200.00 to $230.00 in a report on Friday, April 29th. The Goldman Sachs Group lowered their price target on shares of Reliance Steel & Aluminum from $234.00 to $218.00 in a report on Tuesday, July 12th. StockNews.com raised shares of Reliance Steel & Aluminum from a "buy" rating to a "strong-buy" rating in a report on Thursday, July 21st. Exane BNP Paribas raised shares of Reliance Steel & Aluminum from a "neutral" rating to an "outperform" rating in a report on Thursday, April 14th. Finally, KeyCorp lowered their price target 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. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $203.50.Insider Buying and Selling at Reliance Steel & Aluminum

In other Reliance Steel & Aluminum news, CEO James Donald Hoffman sold 10,000 shares of the firm's stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $167.78, for a total transaction of $1,677,800.00. Following the completion of the transaction, the chief executive officer now owns 142,738 shares of the company's stock, valued at $23,948,581.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.62% of the company's stock. Institutional Investors Weigh In On Reliance Steel & Aluminum

Several large investors have recently bought and sold shares of RS. Raymond James Financial Services Advisors Inc. increased its holdings in Reliance Steel & Aluminum by 212.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,876 shares of the industrial products company's stock worth $1,261,000 after buying an additional 4,672 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Reliance Steel & Aluminum by 0.8% during the 1st quarter. American Century Companies Inc. now owns 11,264 shares of the industrial products company's stock valued at $2,065,000 after purchasing an additional 88 shares during the period. APG Asset Management N.V. bought a new stake in shares of Reliance Steel & Aluminum during the 1st quarter valued at about $1,533,000. Great West Life Assurance Co. Can grew its stake in shares of Reliance Steel & Aluminum by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 40,567 shares of the industrial products company's stock valued at $7,679,000 after purchasing an additional 3,058 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Reliance Steel & Aluminum by 14.6% during the 1st quarter. Sei Investments Co. now owns 35,984 shares of the industrial products company's stock valued at $6,602,000 after purchasing an additional 4,573 shares during the period. 81.84% of the stock is currently owned by institutional investors. About Reliance Steel & Aluminum (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.Read MoreGet a free copy of the StockNews.com research report on Reliance Steel & Aluminum (RS)The One Question You Have to Ask Before Investing in INTC Stock Home Depot: A Beautiful Boring Stock to Navigate a Bear Market Could CRISPR Therapeutics be a Moonshot Hiding in Plain Sight? Why Apple Shares May Have Room to Move Higher After Earnings Windfall Profits Have Exxon Mobil On Track For New Highs

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