BidaskClub lowered shares of Reliance Steel & Aluminum Co. (NYSE:RS) from a hold rating to a sell rating in a report issued on Friday.

A number of other research firms have also recently weighed in on RS. Jefferies Group LLC reissued a hold rating and set a $77.00 price objective (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a report on Friday, April 28th. Barclays PLC reaffirmed a hold rating and issued a $59.00 target price on shares of Reliance Steel & Aluminum Co. in a report on Monday, May 1st. Longbow Research assumed coverage on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, April 19th. They issued a neutral rating on the stock. Cowen and Company set a $92.00 target price on shares of Reliance Steel & Aluminum Co. and gave the company an outperform rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG reaffirmed a buy rating on shares of Reliance Steel & Aluminum Co. in a report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum Co. has a consensus rating of Buy and a consensus price target of $82.86.

Reliance Steel & Aluminum Co. (NYSE RS) traded down 0.06% during mid-day trading on Friday, hitting $72.32. 104,453 shares of the stock traded hands. Reliance Steel & Aluminum Co. has a 12-month low of $65.10 and a 12-month high of $88.58. The stock has a market cap of $5.27 billion, a PE ratio of 16.31 and a beta of 1.23. The company has a 50 day moving average of $73.28 and a 200-day moving average of $77.57.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. The company had revenue of $2.48 billion for the quarter. During the same period in the previous year, the business posted $1.36 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Reliance Steel & Aluminum Co. will post $5.27 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be issued 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 2.49%. Reliance Steel & Aluminum Co.’s payout ratio is 40.54%.

A number of institutional investors have recently made changes to their positions in the stock. CrestPoint Capital Management LLC purchased a new position in shares of Reliance Steel & Aluminum Co. during the first quarter valued at about $208,000. Two Sigma Securities LLC purchased a new position in shares of Reliance Steel & Aluminum Co. during the first quarter valued at about $248,000. Laurion Capital Management LP purchased a new position in shares of Reliance Steel & Aluminum Co. during the first quarter valued at about $280,000. Mckinley Capital Management LLC Delaware boosted its position in shares of Reliance Steel & Aluminum Co. by 12.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 3,521 shares of the industrial products company’s stock valued at $282,000 after buying an additional 401 shares in the last quarter. Finally, Burney Co. boosted its position in shares of Reliance Steel & Aluminum Co. by 6.2% in the first quarter. Burney Co. now owns 3,793 shares of the industrial products company’s stock valued at $304,000 after buying an additional 220 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

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).

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

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