Reliance Steel & Aluminum Co. (NYSE:RS) Shares Sold by American Trust

American Trust cut its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RSGet Rating) by 23.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,176 shares of the industrial products company’s stock after selling 368 shares during the period. American Trust’s holdings in Reliance Steel & Aluminum were worth $216,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Worth Asset Management LLC acquired a new position in shares of Reliance Steel & Aluminum in the first quarter valued at approximately $28,000. Denali Advisors LLC grew its holdings in shares of Reliance Steel & Aluminum by 100.0% in 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 in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Reliance Steel & Aluminum in the first quarter valued at approximately $46,000. Rational Advisors LLC grew its holdings in shares of Reliance Steel & Aluminum by 50.6% in the first quarter. Rational Advisors LLC now owns 256 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 86 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of Reliance Steel & Aluminum by 704.3% in 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 in the last quarter. 83.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RS shares. The Goldman Sachs Group dropped their price objective on shares of Reliance Steel & Aluminum from $234.00 to $218.00 in a report on Tuesday, July 12th. StockNews.com cut shares of Reliance Steel & Aluminum from a “strong-buy” rating to a “buy” rating in a report on Friday, July 29th. KeyCorp lowered their price target on shares of Reliance Steel & Aluminum from $215.00 to $207.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Finally, BMO Capital Markets started coverage on shares of Reliance Steel & Aluminum in a report on Monday, August 15th. They set an “outperform” rating and a $230.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $222.20.

Insiders Place Their Bets

In other Reliance Steel & Aluminum news, CEO James Donald Hoffman sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 6th. The shares were 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 in the company, valued at approximately $23,948,581.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Reliance Steel & Aluminum news, CEO James Donald Hoffman sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 6th. The shares were 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 in the company, valued at approximately $23,948,581.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Arthur Ajemyan sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $198.39, for a total transaction of $198,390.00. Following the transaction, the chief financial officer now directly owns 12,870 shares in the company, valued at $2,553,279.30. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Reliance Steel & Aluminum Stock Up 3.5 %

Shares of NYSE:RS opened at $181.58 on Tuesday. The company has a market capitalization of $10.95 billion, a PE ratio of 6.00 and a beta of 0.83. The company has a current ratio of 3.02, a quick ratio of 1.60 and a debt-to-equity ratio of 0.17. Reliance Steel & Aluminum Co. has a twelve month low of $135.46 and a twelve month high of $211.65. The firm has a 50 day simple moving average of $186.84 and a 200-day simple moving average of $186.51.

Reliance Steel & Aluminum (NYSE:RSGet Rating) last released its quarterly earnings results on Thursday, July 28th. The industrial products company reported $9.15 EPS for the quarter, beating the consensus estimate of $9.02 by $0.13. Reliance Steel & Aluminum had a net margin of 11.25% and a return on equity of 30.46%. The firm had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the prior year, the firm earned $5.06 EPS. Reliance Steel & Aluminum’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities analysts predict that Reliance Steel & Aluminum Co. will post 28.26 EPS for the current fiscal year.

Reliance Steel & Aluminum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $3.50 dividend on an annualized basis and a yield of 1.93%. Reliance Steel & Aluminum’s payout ratio is currently 11.56%.

Reliance Steel & Aluminum Company 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.

See Also

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co. (NYSE:RSGet Rating).

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

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.