BNP Paribas Arbitrage SA trimmed its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 72.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,688 shares of the industrial products company’s stock after selling 107,983 shares during the period. BNP Paribas Arbitrage SA owned 0.06% of Reliance Steel & Aluminum Co. worth $3,099,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Huntington National Bank boosted its holdings in shares of Reliance Steel & Aluminum Co. by 267.8% during the 3rd quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock worth $123,000 after buying an additional 1,173 shares during the period. Global X Management Co. LLC boosted its holdings in shares of Reliance Steel & Aluminum Co. by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock worth $168,000 after buying an additional 1,584 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Reliance Steel & Aluminum Co. by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock worth $203,000 after buying an additional 382 shares during the period. BB&T Securities LLC boosted its holdings in shares of Reliance Steel & Aluminum Co. by 25.5% during the 2nd quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock worth $237,000 after buying an additional 664 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Reliance Steel & Aluminum Co. during the 2nd quarter worth $252,000. 82.36% of the stock is owned by institutional investors.

Several analysts recently issued reports on the stock. ValuEngine raised shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $72.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Friday, October 6th. Cowen and Company reaffirmed a “buy” rating and set a $92.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, October 16th. Finally, Clarkson Capital reissued a “buy” rating on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $82.00.

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Shares of Reliance Steel & Aluminum Co. (RS) opened at $75.59 on Tuesday. 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 1-year low of $68.46 and a 1-year high of $88.58. The firm has a market cap of $5,430.00, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.60 and a beta of 1.28.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its quarterly earnings data 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 Co. had a net margin of 3.97% and a return on equity of 8.61%. The company had revenue of $2.45 billion during the quarter. During the same quarter in the prior year, the company posted $1.25 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. equities research analysts predict that Reliance Steel & Aluminum Co. will post 5.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, November 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio is 35.36%.

About Reliance Steel & Aluminum Co.

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).

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

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