DekaBank Deutsche Girozentrale grew its position in shares of Reliance Steel & Aluminum Co. (NYSE:RS – Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,558 shares of the industrial products company’s stock after buying an additional 2,494 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.09% of Reliance Steel & Aluminum worth $13,268,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Reliance Steel & Aluminum by 16.4% during the 1st quarter. State Street Corp now owns 2,549,898 shares of the industrial products company’s stock worth $467,524,000 after buying an additional 359,364 shares during the period. Royal London Asset Management Ltd. increased its position in shares of Reliance Steel & Aluminum by 15.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 1,423,772 shares of the industrial products company’s stock worth $288,058,000 after purchasing an additional 191,603 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Reliance Steel & Aluminum by 1.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 677,944 shares of the industrial products company’s stock worth $137,243,000 after purchasing an additional 9,041 shares during the period. Morgan Stanley increased its position in shares of Reliance Steel & Aluminum by 28.5% in the fourth quarter. Morgan Stanley now owns 605,477 shares of the industrial products company’s stock worth $122,573,000 after purchasing an additional 134,295 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Reliance Steel & Aluminum by 121.1% in the first quarter. First Trust Advisors LP now owns 515,735 shares of the industrial products company’s stock worth $94,560,000 after purchasing an additional 282,481 shares during the period. Institutional investors own 83.51% of the company’s stock.
Insider Activity
In other news, Director James Donald Hoffman sold 10,000 shares of Reliance Steel & Aluminum stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $235.16, for a total transaction of $2,351,600.00. Following the sale, the director now directly owns 124,042 shares of the company’s stock, valued at $29,169,716.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.
Wall Street Analysts Forecast Growth
Reliance Steel & Aluminum Stock Performance
NYSE:RS opened at $279.41 on Tuesday. The stock’s 50-day simple moving average is $250.10 and its 200 day simple moving average is $240.48. The firm has a market capitalization of $16.43 billion, a PE ratio of 10.01 and a beta of 0.90. The company has a quick ratio of 2.80, a current ratio of 4.83 and a debt-to-equity ratio of 0.16. Reliance Steel & Aluminum Co. has a twelve month low of $168.24 and a twelve month high of $282.06.
Reliance Steel & Aluminum (NYSE:RS – Get Free Report) last released its quarterly earnings data on Thursday, April 27th. The industrial products company reported $6.37 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.67. Reliance Steel & Aluminum had a return on equity of 24.11% and a net margin of 10.30%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the firm posted $8.42 earnings per share. Reliance Steel & Aluminum’s revenue was down 11.6% compared to the same quarter last year. On average, analysts anticipate that Reliance Steel & Aluminum Co. will post 22.68 EPS for the current fiscal year.
Reliance Steel & Aluminum Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 26th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, May 25th. Reliance Steel & Aluminum’s payout ratio is 14.33%.
Reliance Steel & Aluminum Company Profile
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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