Swiss National Bank Lowers Position in Reliance Steel & Aluminum Co. (NYSE:RS)

Swiss National Bank trimmed its holdings in Reliance Steel & Aluminum Co. (NYSE:RSFree Report) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,200 shares of the industrial products company’s stock after selling 23,300 shares during the period. Swiss National Bank owned about 0.32% of Reliance Steel & Aluminum worth $49,614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in RS. Millburn Ridgefield Corp purchased a new stake in shares of Reliance Steel & Aluminum in the third quarter worth about $33,000. Worth Asset Management LLC purchased a new stake in shares of Reliance Steel & Aluminum in the first quarter worth about $28,000. Advisory Services Network LLC lifted its position in shares of Reliance Steel & Aluminum by 160.0% in the first quarter. Advisory Services Network LLC now owns 221 shares of the industrial products company’s stock worth $57,000 after buying an additional 136 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Reliance Steel & Aluminum by 26.4% in the third quarter. UMB Bank n.a. now owns 230 shares of the industrial products company’s stock worth $60,000 after buying an additional 48 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its stake in Reliance Steel & Aluminum by 131.7% during the first quarter. Atlas Capital Advisors LLC now owns 234 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 133 shares during the last quarter. 80.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on RS. StockNews.com raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Thursday, November 23rd. KeyCorp reduced their price objective on Reliance Steel & Aluminum from $290.00 to $285.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $275.00.

Get Our Latest Stock Analysis on RS

Reliance Steel & Aluminum Trading Up 2.3 %

RS opened at $298.21 on Thursday. The stock has a market cap of $17.14 billion, a price-to-earnings ratio of 12.54 and a beta of 0.86. The stock’s 50 day moving average price is $279.23 and its 200-day moving average price is $272.84. Reliance Steel & Aluminum Co. has a one year low of $225.14 and a one year high of $298.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.13 and a current ratio of 5.53.

Insider Buying and Selling

In other Reliance Steel & Aluminum news, CEO Karla R. Lewis sold 5,374 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $278.87, for a total transaction of $1,498,647.38. Following the completion of the sale, the chief executive officer now owns 83,884 shares in the company, valued at $23,392,731.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director James Donald Hoffman sold 10,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $272.49, for a total transaction of $2,724,900.00. Following the completion of the sale, the director now owns 94,042 shares in the company, valued at approximately $25,625,504.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Karla R. Lewis sold 5,374 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $278.87, for a total value of $1,498,647.38. Following the sale, the chief executive officer now owns 83,884 shares of the company’s stock, valued at approximately $23,392,731.08. The disclosure for this sale can be found here. Insiders have sold a total of 26,614 shares of company stock valued at $7,357,934 over the last quarter. 0.62% of the stock is owned by corporate insiders.

About Reliance Steel & Aluminum

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co. (NYSE:RSFree Report).

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

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.