Mutual of America Capital Management LLC Sells 1,184 Shares of Reliance Steel & Aluminum Co (RS)

Mutual of America Capital Management LLC decreased its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,153 shares of the industrial products company’s stock after selling 1,184 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.09% of Reliance Steel & Aluminum worth $5,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its stake in Reliance Steel & Aluminum by 107.9% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 750 shares during the last quarter. Twin Tree Management LP acquired a new stake in Reliance Steel & Aluminum in the third quarter valued at $174,000. Itau Unibanco Holding S.A. lifted its stake in Reliance Steel & Aluminum by 130.1% in the second quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 1,352 shares during the last quarter. Balasa Dinverno & Foltz LLC acquired a new stake in Reliance Steel & Aluminum in the third quarter valued at $209,000. Finally, Private Advisor Group LLC acquired a new stake in Reliance Steel & Aluminum in the third quarter valued at $231,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

In related news, SVP William A. Smith II sold 5,582 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $78.98, for a total transaction of $440,866.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director David H. Hannah sold 28,080 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total transaction of $2,246,400.00. The disclosure for this sale can be found here. Company insiders own 3.24% of the company’s stock.

A number of analysts have commented on RS shares. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Monday, September 3rd. Citigroup cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. KeyCorp cut their price target on shares of Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Monday, September 10th. ValuEngine cut shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. Finally, Longbow Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a research note on Monday, October 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum presently has an average rating of “Hold” and a consensus price target of $94.60.

NYSE RS opened at $75.91 on Friday. The company has a quick ratio of 1.92, a current ratio of 4.40 and a debt-to-equity ratio of 0.39. The stock has a market cap of $5.50 billion, a PE ratio of 8.63, a P/E/G ratio of 0.90 and a beta of 1.16. Reliance Steel & Aluminum Co has a 52-week low of $74.65 and a 52-week high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.27). The company had revenue of $2.97 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 13.58% and a net margin of 7.66%. As a group, equities research analysts expect that Reliance Steel & Aluminum Co will post 9.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, November 15th. Reliance Steel & Aluminum’s dividend payout ratio is presently 36.76%.

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About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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