Reliance Steel & Aluminum (NYSE:RS) PT Raised to $225.00 at KeyCorp

Reliance Steel & Aluminum (NYSE:RSGet Rating) had its price target upped by KeyCorp from $210.00 to $225.00 in a report released on Tuesday, The Fly reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Reliance Steel & Aluminum from a buy rating to a neutral rating and cut their price objective for the company from $218.00 to $201.00 in a report on Thursday, October 6th. StockNews.com downgraded shares of Reliance Steel & Aluminum from a strong-buy rating to a buy rating in a report on Thursday, October 6th. Finally, BMO Capital Markets assumed coverage on shares of Reliance Steel & Aluminum in a report on Monday, August 15th. They set an outperform rating and a $230.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Reliance Steel & Aluminum presently has a consensus rating of Moderate Buy and a consensus price target of $222.40.

Reliance Steel & Aluminum Stock Performance

Shares of Reliance Steel & Aluminum stock opened at $212.92 on Tuesday. The company has a market capitalization of $12.50 billion, a PE ratio of 6.97 and a beta of 0.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.78 and a current ratio of 3.25. The company has a 50-day simple moving average of $189.31 and a two-hundred day simple moving average of $186.35. Reliance Steel & Aluminum has a one year low of $145.79 and a one year high of $213.37.

Reliance Steel & Aluminum (NYSE:RSGet Rating) last announced its earnings results on Thursday, October 27th. The industrial products company reported $6.48 EPS for the quarter, topping analysts’ consensus estimates of $6.19 by $0.29. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.14 billion. Reliance Steel & Aluminum had a net margin of 10.98% and a return on equity of 29.31%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $6.15 earnings per share. Research analysts expect that Reliance Steel & Aluminum will post 28.69 EPS for the current fiscal year.

Reliance Steel & Aluminum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be given a dividend of $0.875 per share. The ex-dividend date is Thursday, November 17th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.64%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is 11.45%.

Insider Activity

In other news, CEO James Donald Hoffman sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $183.31, for a total transaction of $1,833,100.00. Following the transaction, the chief executive officer now owns 132,738 shares in the company, valued at approximately $24,332,202.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Worth Asset Management LLC acquired a new stake in shares of Reliance Steel & Aluminum in the 1st quarter worth $28,000. Tobam acquired a new stake in shares of Reliance Steel & Aluminum during the 3rd quarter worth about $33,000. Ronald Blue Trust Inc. increased its position in shares of Reliance Steel & Aluminum by 400.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 245 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 196 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Reliance Steel & Aluminum during the 1st quarter worth about $46,000. Finally, Rational Advisors LLC increased its position in shares of Reliance Steel & Aluminum by 50.6% during the 1st quarter. Rational Advisors LLC now owns 256 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 86 shares during the last quarter. 83.16% of the stock is owned by institutional investors and hedge funds.

Reliance Steel & Aluminum Company Profile

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Reliance Steel & Aluminum Co engages in the provision of metals processing services and distribution of metal products. It offers alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. The company was founded by Thomas J. Neilan on February 3, 1939, and is headquartered in Scottsdale, AZ.

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