Occidental Asset Management LLC Buys 41 Shares of Reliance Steel & Aluminum Co. (NYSE:RS)

Occidental Asset Management LLC raised its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,962 shares of the industrial products company’s stock after buying an additional 41 shares during the period. Reliance Steel & Aluminum comprises approximately 0.9% of Occidental Asset Management LLC’s investment portfolio, making the stock its 20th biggest holding. Occidental Asset Management LLC’s holdings in Reliance Steel & Aluminum were worth $3,792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Laffer Tengler Investments grew its position in shares of Reliance Steel & Aluminum by 36.0% in the fourth quarter. Laffer Tengler Investments now owns 593 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 157 shares during the last quarter. Metis Global Partners LLC acquired a new position in shares of Reliance Steel & Aluminum in the first quarter valued at approximately $237,000. Envestnet Asset Management Inc. grew its position in shares of Reliance Steel & Aluminum by 814.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,436,988 shares of the industrial products company’s stock valued at $47,995,000 after purchasing an additional 1,279,892 shares during the last quarter. CENTRAL TRUST Co grew its position in shares of Reliance Steel & Aluminum by 288.2% in the first quarter. CENTRAL TRUST Co now owns 330 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 245 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Reliance Steel & Aluminum by 322.0% in the fourth quarter. M&T Bank Corp now owns 15,218 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 11,612 shares during the last quarter. Institutional investors own 80.87% of the company’s stock.

Insider Activity

In other news, SVP William A. Smith II sold 6,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $292.71, for a total value of $1,756,260.00. Following the completion of the sale, the senior vice president now directly owns 18,366 shares in the company, valued at approximately $5,375,911.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 6,000 shares of Reliance Steel & Aluminum stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $292.71, for a total transaction of $1,756,260.00. Following the completion of the transaction, the senior vice president now owns 18,366 shares in the company, valued at approximately $5,375,911.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of Reliance Steel & Aluminum stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $277.65, for a total value of $1,388,250.00. Following the transaction, the director now owns 10,482 shares of the company’s stock, valued at approximately $2,910,327.30. The disclosure for this sale can be found here. Insiders sold a total of 37,503 shares of company stock worth $10,634,666 in the last three months. Company insiders own 0.62% of the company’s stock.

Reliance Steel & Aluminum Trading Up 2.0 %

NYSE:RS traded up $5.17 during trading hours on Monday, hitting $266.20. 52,777 shares of the company were exchanged, compared to its average volume of 405,469. The company has a fifty day simple moving average of $280.48 and a 200 day simple moving average of $260.76. Reliance Steel & Aluminum Co. has a one year low of $168.24 and a one year high of $295.98. The company has a current ratio of 5.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $15.59 billion, a price-to-earnings ratio of 10.34 and a beta of 0.92.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $6.49 earnings per share for the quarter, missing the consensus estimate of $6.52 by ($0.03). Reliance Steel & Aluminum had a return on equity of 20.88% and a net margin of 9.63%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same period last year, the business posted $9.15 earnings per share. The business’s revenue was down 17.1% on a year-over-year basis. Sell-side analysts expect that Reliance Steel & Aluminum Co. will post 22.14 EPS for the current fiscal year.

Reliance Steel & Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $1.00 dividend. The ex-dividend date was Thursday, August 17th. This represents a $4.00 annualized dividend and a dividend yield of 1.50%. Reliance Steel & Aluminum’s dividend payout ratio is presently 15.84%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $270.00.

About Reliance Steel & Aluminum

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.