Reliance Steel & Aluminum Co (RS) Position Decreased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,063 shares of the industrial products company’s stock after selling 1,539 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.20% of Reliance Steel & Aluminum worth $12,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its stake in shares of Reliance Steel & Aluminum by 107.9% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 750 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in shares of Reliance Steel & Aluminum by 130.1% during the second quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 1,352 shares in the last quarter. Balasa Dinverno & Foltz LLC bought a new stake in shares of Reliance Steel & Aluminum during the third quarter valued at about $209,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Reliance Steel & Aluminum during the second quarter valued at about $237,000. Finally, First Hawaiian Bank bought a new stake in shares of Reliance Steel & Aluminum during the third quarter valued at about $241,000. Institutional investors and hedge funds own 81.09% of the company’s stock.

Reliance Steel & Aluminum stock traded down $1.75 during midday trading on Friday, hitting $76.24. The company’s stock had a trading volume of 816,975 shares, compared to its average volume of 515,811. The company has a current ratio of 4.06, a quick ratio of 1.76 and a debt-to-equity ratio of 0.39. Reliance Steel & Aluminum Co has a 12 month low of $72.69 and a 12 month high of $97.41. The stock has a market cap of $5.90 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.91 and a beta of 1.13.



Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings results on Thursday, October 25th. The industrial products company reported $2.42 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.27). Reliance Steel & Aluminum had a return on equity of 12.29% and a net margin of 7.55%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.95 billion. On average, equities analysts predict that Reliance Steel & Aluminum Co will post 9.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, November 15th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 36.76%.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Reliance Steel & Aluminum from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Jefferies Financial Group upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, July 10th. Bank of America cut shares of Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 price target on the stock. in a research report on Friday, September 7th. Zacks Investment Research upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Wednesday, September 5th. Finally, ValuEngine cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Reliance Steel & Aluminum has an average rating of “Hold” and an average price target of $95.30.

In other Reliance Steel & Aluminum news, Director David H. Hannah sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total transaction of $2,251,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.24% of the stock is currently owned by insiders.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

Read More: Ex-Dividend

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

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