Jensen Investment Management Inc. held its stake in Reliance Steel & Aluminum Co (NYSE:RS) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 28,600 shares of the industrial products company’s stock at the end of the second quarter. Jensen Investment Management Inc.’s holdings in Reliance Steel & Aluminum Co were worth $2,082,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC increased its stake in Reliance Steel & Aluminum Co by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 12,556 shares of the industrial products company’s stock worth $1,005,000 after buying an additional 50 shares in the last quarter. Pitcairn Co. increased its stake in Reliance Steel & Aluminum Co by 1.3% in the first quarter. Pitcairn Co. now owns 5,022 shares of the industrial products company’s stock worth $402,000 after buying an additional 65 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Reliance Steel & Aluminum Co by 1.2% in the second quarter. Teacher Retirement System of Texas now owns 5,842 shares of the industrial products company’s stock worth $425,000 after buying an additional 67 shares in the last quarter. World Asset Management Inc increased its stake in Reliance Steel & Aluminum Co by 2.1% in the first quarter. World Asset Management Inc now owns 5,261 shares of the industrial products company’s stock worth $421,000 after buying an additional 106 shares in the last quarter. Finally, Argent Capital Management LLC increased its stake in Reliance Steel & Aluminum Co by 2.5% in the first quarter. Argent Capital Management LLC now owns 5,000 shares of the industrial products company’s stock worth $400,000 after buying an additional 120 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Reliance Steel & Aluminum Co (NYSE RS) traded down 0.14% on Thursday, reaching $72.75. The company’s stock had a trading volume of 27,151 shares. The firm has a market cap of $5.30 billion, a PE ratio of 16.41 and a beta of 1.23. The stock’s 50 day moving average price is $72.48 and its 200 day moving average price is $76.34. Reliance Steel & Aluminum Co has a 52-week low of $65.10 and a 52-week high of $88.58.

Reliance Steel & Aluminum Co (NYSE:RS) last posted its earnings results on Thursday, July 27th. The industrial products company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. The company had revenue of $2.48 billion for the quarter. Reliance Steel & Aluminum Co had a return on equity of 9.63% and a net margin of 4.23%. Reliance Steel & Aluminum Co’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Equities research analysts expect that Reliance Steel & Aluminum Co will post $5.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.47%. Reliance Steel & Aluminum Co’s dividend payout ratio is currently 40.54%.

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A number of equities research analysts have recently weighed in on the company. Deutsche Bank AG reissued a “buy” rating on shares of Reliance Steel & Aluminum Co in a report on Saturday, June 24th. BidaskClub downgraded Reliance Steel & Aluminum Co from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $72.00 price target on shares of Reliance Steel & Aluminum Co in a research note on Wednesday, July 19th. Zacks Investment Research raised Reliance Steel & Aluminum Co from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Cowen and Company set a $92.00 price target on Reliance Steel & Aluminum Co and gave the company an “outperform” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $82.86.

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).

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

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