Reliance Steel & Aluminum Co. (RS) Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,139 shares of the industrial products company’s stock after selling 8,377 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Reliance Steel & Aluminum worth $9,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Reliance Steel & Aluminum by 4.2% in the 2nd 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 period. Vanguard Group Inc. raised its holdings in shares of Reliance Steel & Aluminum by 2.5% in the 2nd 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 period. Victory Capital Management Inc. raised its holdings in shares of Reliance Steel & Aluminum by 26.2% in the 3rd 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 period. Dimensional Fund Advisors LP raised its holdings in shares of Reliance Steel & Aluminum by 2.0% in the 2nd 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 period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Reliance Steel & Aluminum by 1.5% in the 2nd 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 period. Hedge funds and other institutional investors own 82.30% of the company’s stock.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $82.69, for a total transaction of $92,860.87. Following the completion of the sale, the senior vice president now owns 15,320 shares in the company, valued at approximately $1,266,810.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.18% of the stock is owned by company insiders.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at $87.13 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. Reliance Steel & Aluminum Co. has a 12 month low of $68.46 and a 12 month high of $88.58. The stock has a market capitalization of $6,340.00, a PE ratio of 17.12, a PEG ratio of 1.84 and a beta of 1.29.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.07%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 35.36%.

A number of equities analysts have recently commented on RS shares. Zacks Investment Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Cowen restated a “buy” rating and issued a $92.00 price objective on shares of Reliance Steel & Aluminum in a report on Wednesday, October 4th. Jefferies Group restated a “hold” rating and issued a $72.00 price objective on shares of Reliance Steel & Aluminum in a report on Friday, October 6th. Macquarie initiated coverage on Reliance Steel & Aluminum in a research note on Wednesday, September 6th. They issued an “outperform” rating for the company. Finally, KeyCorp reiterated a “buy” rating and issued a $84.00 target price on shares of Reliance Steel & Aluminum in a research note on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $80.33.

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Reliance Steel & Aluminum Company 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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