Diversified Trust Co Has $471,000 Stock Holdings in Reliance Steel & Aluminum Co. (NYSE:RS)

Diversified Trust Co raised its holdings in Reliance Steel & Aluminum Co. (NYSE:RSGet Rating) by 40.8% in the second quarter, Holdings Channel.com reports. The fund owned 2,775 shares of the industrial products company’s stock after acquiring an additional 804 shares during the quarter. Diversified Trust Co’s holdings in Reliance Steel & Aluminum were worth $471,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Worth Asset Management LLC bought a new position in shares of Reliance Steel & Aluminum in the first quarter valued at approximately $28,000. Denali Advisors LLC raised its position 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 during the period. Penserra Capital Management LLC bought a new position in Reliance Steel & Aluminum during the first quarter worth $46,000. Rational Advisors LLC increased its position in Reliance Steel & Aluminum by 50.6% during the first quarter. Rational Advisors LLC now owns 256 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 86 shares during the period. Finally, Rosenberg Matthew Hamilton increased its position in Reliance Steel & Aluminum by 704.3% during the first quarter. Rosenberg Matthew Hamilton now owns 378 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 331 shares during the period. Institutional investors own 83.16% of the company’s stock.

Wall Street Analyst Weigh In

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

Reliance Steel & Aluminum Trading Down 1.5 %

Shares of Reliance Steel & Aluminum stock opened at $175.12 on Friday. Reliance Steel & Aluminum Co. has a 52-week low of $139.02 and a 52-week high of $211.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.02 and a quick ratio of 1.60. The company’s fifty day moving average price is $187.02 and its two-hundred day moving average price is $186.34. The firm has a market capitalization of $10.56 billion, a PE ratio of 5.79 and a beta of 0.83.

Reliance Steel & Aluminum (NYSE:RSGet Rating) last issued its 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 company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the company earned $5.06 EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, analysts expect that Reliance Steel & Aluminum Co. will post 28.26 EPS for the current year.

Reliance Steel & Aluminum Announces Dividend

The company also recently announced 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 of this dividend was Thursday, August 18th. This represents a $3.50 annualized dividend and a dividend yield of 2.00%. Reliance Steel & Aluminum’s dividend payout ratio is presently 11.56%.

Insider Activity

In other news, CEO James Donald Hoffman sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $167.78, for a total value of $1,677,800.00. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James Donald Hoffman sold 10,000 shares of the company’s stock in a transaction dated 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 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 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 dated 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 owns 12,870 shares in the company, valued at approximately $2,553,279.30. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

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.

See Also

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

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