KeyCorp Boosts Reliance Steel & Aluminum (NYSE:RS) Price Target to $235.00

Reliance Steel & Aluminum (NYSE:RSGet Rating) had its price objective upped by investment analysts at KeyCorp from $225.00 to $235.00 in a research report issued to clients and investors on Wednesday, The Fly reports. KeyCorp’s target price would indicate a potential upside of 8.90% from the company’s previous close.

Several other research analysts have also commented on RS. Bank of America assumed coverage on shares of Reliance Steel & Aluminum in a research note on Wednesday, January 4th. They issued a “neutral” rating for the company. The Goldman Sachs Group lowered shares of Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $218.00 to $201.00 in a research note on Thursday, October 6th. Finally, StockNews.com lowered shares of Reliance Steel & Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Reliance Steel & Aluminum currently has a consensus rating of “Moderate Buy” and an average price target of $224.40.

Reliance Steel & Aluminum Trading Down 0.2 %

Shares of RS stock opened at $215.79 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.25 and a quick ratio of 1.78. The firm has a market cap of $12.66 billion, a PE ratio of 7.06 and a beta of 0.87. The company has a 50-day moving average of $207.80 and a two-hundred day moving average of $194.53. Reliance Steel & Aluminum has a 1-year low of $145.79 and a 1-year high of $218.74.

Reliance Steel & Aluminum (NYSE:RSGet Rating) last announced its earnings results on Thursday, October 27th. The industrial products company reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.20 by $0.28. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.14 billion. Reliance Steel & Aluminum had a net margin of 10.98% and a return on equity of 29.31%. Reliance Steel & Aluminum’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $6.15 earnings per share. On average, analysts predict that Reliance Steel & Aluminum will post 28.65 EPS for the current year.

Insider Activity at Reliance Steel & Aluminum

In related news, President Karla R. Lewis sold 9,178 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $213.69, for a total value of $1,961,246.82. Following the sale, the president now owns 77,832 shares of the company’s stock, valued at $16,631,920.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Reliance Steel & Aluminum news, President Karla R. Lewis sold 9,178 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $213.69, for a total transaction of $1,961,246.82. Following the sale, the president now owns 77,832 shares of the company’s stock, valued at $16,631,920.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Stephen Paul Koch sold 6,569 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $213.71, for a total transaction of $1,403,860.99. Following the sale, the chief operating officer now directly owns 5,486 shares in the company, valued at approximately $1,172,413.06. The disclosure for this sale can be found here. Insiders have sold a total of 25,747 shares of company stock valued at $5,479,608 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reliance Steel & Aluminum

Institutional investors have recently modified their holdings of the business. Worth Asset Management LLC acquired a new position in shares of Reliance Steel & Aluminum in the 1st quarter valued at $28,000. Tobam acquired a new position in shares of Reliance Steel & Aluminum in the 3rd quarter valued at $33,000. Ronald Blue Trust Inc. increased its holdings in shares of Reliance Steel & Aluminum by 400.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 245 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 196 shares during the period. Penserra Capital Management LLC purchased a new position in Reliance Steel & Aluminum in the 1st quarter valued at $46,000. Finally, Pinebridge Investments L.P. grew its position in Reliance Steel & Aluminum by 206.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 306 shares of the industrial products company’s stock valued at $52,000 after buying an additional 206 shares during the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Reliance Steel & Aluminum Company Profile

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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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