King Luther Capital Management Corp Has $15.34 Million Holdings in Reliance Steel & Aluminum Co. (RS)

King Luther Capital Management Corp lifted its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 201,445 shares of the industrial products company’s stock after purchasing an additional 14,347 shares during the period. King Luther Capital Management Corp owned about 0.28% of Reliance Steel & Aluminum worth $15,344,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Reliance Steel & Aluminum by 4.2% during the second quarter. BlackRock Inc. now owns 6,959,142 shares of the industrial products company’s stock worth $506,694,000 after purchasing an additional 277,846 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Reliance Steel & Aluminum by 2.5% during the second quarter. Vanguard Group Inc. now owns 6,081,125 shares of the industrial products company’s stock worth $442,766,000 after purchasing an additional 146,404 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Reliance Steel & Aluminum by 26.2% during the third quarter. Victory Capital Management Inc. now owns 3,430,812 shares of the industrial products company’s stock worth $261,326,000 after purchasing an additional 711,994 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Reliance Steel & Aluminum by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,550,984 shares of the industrial products company’s stock worth $185,743,000 after purchasing an additional 50,208 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Reliance Steel & Aluminum by 1.5% during the second quarter. Lord Abbett & CO. LLC now owns 1,832,962 shares of the industrial products company’s stock worth $133,458,000 after purchasing an additional 26,528 shares during the last quarter. 82.34% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on RS shares. Cowen reaffirmed a “buy” rating and set a $92.00 price target on shares of Reliance Steel & Aluminum in a research report on Wednesday, October 4th. Bank of America reaffirmed a “buy” rating and set a $89.00 price target (up previously from $88.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, September 5th. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, October 16th. ValuEngine raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Reliance Steel & Aluminum has an average rating of “Buy” and a consensus target price of $79.83.

Reliance Steel & Aluminum Co. (RS) traded down $1.14 on Wednesday, reaching $80.48. 439,800 shares of the company traded hands, compared to its average volume of 494,378. The firm has a market capitalization of $5,951.35, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. Reliance Steel & Aluminum Co. has a 52-week low of $68.46 and a 52-week high of $88.58. The company has a current ratio of 4.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.11. The firm had revenue of $2.45 billion for the quarter. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. Reliance Steel & Aluminum’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. equities analysts anticipate that Reliance Steel & Aluminum Co. will post 5.21 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.80 annualized dividend and a yield of 2.24%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is 35.43%.

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Reliance Steel & Aluminum Profile

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

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

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