James Donald Hoffman Sells 10,000 Shares of Reliance Steel & Aluminum Co. (NYSE:RS) Stock

Reliance Steel & Aluminum Co. (NYSE:RSGet Rating) Director James Donald Hoffman sold 10,000 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $211.45, for a total value of $2,114,500.00. Following the transaction, the director now owns 19,680 shares in the company, valued at approximately $4,161,336. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Reliance Steel & Aluminum Price Performance

Shares of RS stock opened at $209.71 on Wednesday. Reliance Steel & Aluminum Co. has a fifty-two week low of $145.79 and a fifty-two week high of $216.76. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of 6.86 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 stock’s 50-day simple moving average is $205.31 and its 200-day simple moving average is $191.53.

Reliance Steel & Aluminum (NYSE:RSGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The industrial products company reported $6.48 earnings per share for the quarter, topping analysts’ consensus estimates of $6.20 by $0.28. Reliance Steel & Aluminum had a return on equity of 29.31% and a net margin of 10.98%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the firm earned $6.15 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that Reliance Steel & Aluminum Co. will post 28.65 earnings per share for the current fiscal year.

Reliance Steel & Aluminum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 18th were paid a dividend of $0.875 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.67%. Reliance Steel & Aluminum’s payout ratio is 11.45%.

Institutional Investors Weigh In On Reliance Steel & Aluminum

A number of institutional investors and hedge funds have recently modified their holdings of the company. Coldstream Capital Management Inc. acquired a new stake in shares of Reliance Steel & Aluminum during the fourth quarter worth about $1,917,000. Fulton Bank N.A. acquired a new stake in shares of Reliance Steel & Aluminum during the fourth quarter worth about $233,000. MQS Management LLC acquired a new stake in shares of Reliance Steel & Aluminum during the third quarter worth about $420,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Reliance Steel & Aluminum by 11.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 18,926 shares of the industrial products company’s stock worth $3,302,000 after purchasing an additional 1,912 shares during the period. Finally, Bridgefront Capital LLC acquired a new stake in shares of Reliance Steel & Aluminum during the third quarter worth about $212,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

Wall Street Analyst Weigh In

RS has been the topic of several research reports. StockNews.com lowered Reliance Steel & Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 6th. The Goldman Sachs Group lowered Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating and cut their target price for the company from $218.00 to $201.00 in a research note on Thursday, October 6th. KeyCorp lifted their target price on Reliance Steel & Aluminum from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, November 22nd. Finally, Bank of America assumed coverage on Reliance Steel & Aluminum in a research note on Wednesday, January 4th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Reliance Steel & Aluminum presently has an average rating of “Moderate Buy” and an average price target of $222.40.

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.

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