State of New Jersey Common Pension Fund D Sells 1,158 Shares of Reliance Steel & Aluminum Co. (NYSE:RS)

State of New Jersey Common Pension Fund D trimmed its holdings in Reliance Steel & Aluminum Co. (NYSE:RSFree Report) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,981 shares of the industrial products company’s stock after selling 1,158 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Reliance Steel & Aluminum worth $8,386,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RS. Worth Asset Management LLC acquired a new position in Reliance Steel & Aluminum in the 1st quarter valued at $28,000. Millburn Ridgefield Corp bought a new position in Reliance Steel & Aluminum in the 3rd quarter valued at about $33,000. Penserra Capital Management LLC bought a new position in Reliance Steel & Aluminum in the 1st quarter valued at about $46,000. Advisory Services Network LLC increased its holdings in Reliance Steel & Aluminum by 160.0% in the 1st quarter. Advisory Services Network LLC now owns 221 shares of the industrial products company’s stock valued at $57,000 after buying an additional 136 shares during the period. Finally, UMB Bank n.a. increased its holdings in Reliance Steel & Aluminum by 26.4% in the 3rd quarter. UMB Bank n.a. now owns 230 shares of the industrial products company’s stock valued at $60,000 after buying an additional 48 shares during the period. 80.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. KeyCorp decreased their target price on shares of Reliance Steel & Aluminum from $290.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, October 27th. StockNews.com upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research report on Thursday, November 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.00.

Read Our Latest Research Report on Reliance Steel & Aluminum

Insider Transactions at Reliance Steel & Aluminum

In other news, Director James Donald Hoffman sold 10,183 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $278.86, for a total value of $2,839,631.38. Following the completion of the sale, the director now owns 9,497 shares in the company, valued at approximately $2,648,333.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director James Donald Hoffman sold 10,183 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $278.86, for a total value of $2,839,631.38. Following the transaction, the director now directly owns 9,497 shares of the company’s stock, valued at approximately $2,648,333.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Karla R. Lewis sold 5,374 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 83,884 shares in the company, valued at $23,392,731.08. The disclosure for this sale can be found here. Insiders sold a total of 26,614 shares of company stock worth $7,357,934 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

Reliance Steel & Aluminum Stock Performance

Shares of RS stock opened at $299.61 on Monday. The firm has a market capitalization of $17.22 billion, a PE ratio of 12.59 and a beta of 0.86. The firm has a fifty day simple moving average of $280.08 and a two-hundred day simple moving average of $272.83. The company has a current ratio of 5.53, a quick ratio of 3.13 and a debt-to-equity ratio of 0.15. Reliance Steel & Aluminum Co. has a 12 month low of $225.14 and a 12 month high of $299.74.

Reliance Steel & Aluminum Company Profile

(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.

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

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