Reliance Steel & Aluminum Co. (NYSE:RS) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RSGet Rating) by 6.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,592 shares of the industrial products company’s stock after selling 600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Reliance Steel & Aluminum were worth $1,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Reliance Steel & Aluminum by 6.5% in the 1st quarter. BlackRock Inc. now owns 6,370,754 shares of the industrial products company’s stock valued at $1,168,079,000 after purchasing an additional 389,942 shares in the last quarter. State Street Corp raised its position in shares of Reliance Steel & Aluminum by 16.4% in the 1st quarter. State Street Corp now owns 2,549,898 shares of the industrial products company’s stock valued at $467,524,000 after purchasing an additional 359,364 shares in the last quarter. Ardevora Asset Management LLP acquired a new position in shares of Reliance Steel & Aluminum in the 1st quarter valued at approximately $59,498,000. First Trust Advisors LP raised its position in shares of Reliance Steel & Aluminum by 121.1% in the 1st quarter. First Trust Advisors LP now owns 515,735 shares of the industrial products company’s stock valued at $94,560,000 after purchasing an additional 282,481 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Reliance Steel & Aluminum by 126.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 378,085 shares of the industrial products company’s stock valued at $69,322,000 after purchasing an additional 211,146 shares in the last quarter. 83.16% of the stock is owned by institutional investors and hedge funds.

Reliance Steel & Aluminum Price Performance

Shares of RS opened at $177.83 on Thursday. The company has a market cap of $10.72 billion, a P/E ratio of 5.87 and a beta of 0.83. The stock has a fifty day moving average price of $187.02 and a 200 day moving average price of $186.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.02 and a quick ratio of 1.60. Reliance Steel & Aluminum Co. has a 12 month low of $139.02 and a 12 month high of $211.65.

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

Reliance Steel & Aluminum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were paid a $0.875 dividend. The ex-dividend date was Thursday, August 18th. This represents a $3.50 annualized dividend and a dividend yield of 1.97%. Reliance Steel & Aluminum’s payout ratio is 11.56%.

Analysts Set New Price Targets

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

Insider Transactions at Reliance Steel & Aluminum

In other news, CFO Arthur Ajemyan sold 1,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $198.39, for a total value of $198,390.00. Following the completion of the transaction, the chief financial officer now owns 12,870 shares of the company’s stock, valued at $2,553,279.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO James Donald Hoffman sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $167.78, for a total value of $1,677,800.00. Following the completion of the sale, the chief executive officer now owns 142,738 shares in the company, valued at $23,948,581.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Arthur Ajemyan sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $198.39, for a total value of $198,390.00. Following the completion of the sale, the chief financial officer now owns 12,870 shares of the company’s stock, valued at approximately $2,553,279.30. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

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

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