Reliance Steel & Aluminum (NYSE:RS) Cut to Sell at ValuEngine

ValuEngine lowered shares of Reliance Steel & Aluminum (NYSE:RS) from a hold rating to a sell rating in a research note published on Tuesday, ValuEngine reports.

Other equities analysts also recently issued research reports about the company. Deutsche Bank downgraded Reliance Steel & Aluminum from a buy rating to a hold rating and upped their price target for the stock from $105.00 to $110.00 in a research report on Wednesday, October 30th. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a sell rating to a hold rating and set a $103.00 price target on the stock in a research report on Friday, October 4th. Bank of America set a $115.00 price objective on shares of Reliance Steel & Aluminum and gave the stock a hold rating in a research note on Friday, October 25th. Exane BNP Paribas started coverage on Reliance Steel & Aluminum in a research report on Thursday, November 14th. They issued a neutral rating and a $117.00 target price on the stock. Finally, Longbow Research upgraded Reliance Steel & Aluminum from an underperform rating to a neutral rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $107.40.

Shares of RS opened at $118.03 on Tuesday. The stock has a 50 day simple moving average of $113.43 and a 200 day simple moving average of $99.45. Reliance Steel & Aluminum has a 52-week low of $68.62 and a 52-week high of $120.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.90 and a current ratio of 4.01. The firm has a market capitalization of $7.86 billion, a PE ratio of 13.20, a P/E/G ratio of 1.37 and a beta of 1.35.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, October 24th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $1.95 by $0.44. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. Reliance Steel & Aluminum had a net margin of 5.48% and a return on equity of 12.52%. The business’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period last year, the company posted $2.42 EPS. Equities research analysts predict that Reliance Steel & Aluminum will post 9.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, November 14th. Reliance Steel & Aluminum’s dividend payout ratio is currently 24.61%.

In related news, CFO Karla R. Lewis sold 7,800 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $116.28, for a total value of $906,984.00. Following the sale, the chief financial officer now owns 86,476 shares in the company, valued at approximately $10,055,429.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William A. Smith II sold 5,320 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $116.36, for a total value of $619,035.20. Following the completion of the sale, the senior vice president now owns 11,320 shares in the company, valued at approximately $1,317,195.20. The disclosure for this sale can be found here. In the last three months, insiders sold 19,160 shares of company stock valued at $2,228,532. Insiders own 3.43% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its holdings in Reliance Steel & Aluminum by 2.2% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 3,871 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 85 shares during the period. World Asset Management Inc increased its stake in shares of Reliance Steel & Aluminum by 2.2% during the third quarter. World Asset Management Inc now owns 5,380 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 116 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Reliance Steel & Aluminum by 1.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,400 shares of the industrial products company’s stock worth $1,173,000 after purchasing an additional 130 shares during the last quarter. Zebra Capital Management LLC lifted its holdings in Reliance Steel & Aluminum by 2.3% during the 2nd quarter. Zebra Capital Management LLC now owns 6,467 shares of the industrial products company’s stock worth $612,000 after purchasing an additional 143 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP boosted its stake in Reliance Steel & Aluminum by 0.3% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 57,130 shares of the industrial products company’s stock valued at $5,694,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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Analyst Recommendations for Reliance Steel & Aluminum (NYSE:RS)

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