Reliance Steel & Aluminum Co (NYSE:RS) has earned a consensus rating of “Hold” from the thirteen analysts that are covering the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $81.00.

Several analysts have recently weighed in on the company. Zacks Investment Research cut Reliance Steel & Aluminum Co from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. Macquarie upgraded Reliance Steel & Aluminum Co from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 14th. KeyCorp upgraded Reliance Steel & Aluminum Co from a “sector weight” rating to an “overweight” rating and set a $92.00 price target on the stock in a report on Monday, January 9th. Finally, Longbow Research assumed coverage on Reliance Steel & Aluminum Co in a report on Wednesday. They set a “neutral” rating on the stock.

Shares of Reliance Steel & Aluminum Co (NYSE:RS) traded up 2.44% during midday trading on Monday, hitting $76.88. 666,980 shares of the company were exchanged. Reliance Steel & Aluminum Co has a one year low of $65.10 and a one year high of $88.58. The company has a market capitalization of $5.60 billion, a P/E ratio of 18.48 and a beta of 1.32. The company has a 50-day moving average of $79.87 and a 200 day moving average of $78.98.

Reliance Steel & Aluminum Co (NYSE:RS) last released its quarterly earnings results on Thursday, February 16th. The industrial products company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.10. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Reliance Steel & Aluminum Co had a return on equity of 8.10% and a net margin of 3.63%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. On average, equities research analysts expect that Reliance Steel & Aluminum Co will post $5.62 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, March 10th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This is a boost from Reliance Steel & Aluminum Co’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 2.34%. Reliance Steel & Aluminum Co’s dividend payout ratio is presently 39.81%.

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Hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. boosted its stake in shares of Reliance Steel & Aluminum Co by 86.1% in the third quarter. Advisor Group Inc. now owns 1,530 shares of the industrial products company’s stock valued at $108,000 after buying an additional 708 shares during the last quarter. CrestPoint Capital Management LLC bought a new stake in shares of Reliance Steel & Aluminum Co during the first quarter valued at approximately $208,000. Cigna Investments Inc. New bought a new stake in shares of Reliance Steel & Aluminum Co during the fourth quarter valued at approximately $210,000. Private Advisor Group LLC bought a new stake in shares of Reliance Steel & Aluminum Co during the fourth quarter valued at approximately $218,000. Finally, Laurion Capital Management LP bought a new stake in shares of Reliance Steel & Aluminum Co during the third quarter valued at approximately $281,000. Institutional investors and hedge funds own 85.49% of the company’s stock.

Reliance Steel & Aluminum Co 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).

5 Day Chart for NYSE:RS

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