JPMorgan Chase & Co. reduced its position in Reliance Steel & Aluminum Co (NYSE:RS) by 21.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 199,690 shares of the industrial products company’s stock after selling 55,535 shares during the period. JPMorgan Chase & Co. owned about 0.28% of Reliance Steel & Aluminum worth $17,031,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vident Investment Advisory LLC grew its position in shares of Reliance Steel & Aluminum by 1.5% during the 2nd quarter. Vident Investment Advisory LLC now owns 38,552 shares of the industrial products company’s stock valued at $3,375,000 after acquiring an additional 576 shares during the period. Virginia Retirement Systems ET AL grew its position in shares of Reliance Steel & Aluminum by 3.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock valued at $1,418,000 after acquiring an additional 600 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Reliance Steel & Aluminum by 107.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 750 shares during the period. Alpha Windward LLC grew its position in shares of Reliance Steel & Aluminum by 13.7% during the 3rd quarter. Alpha Windward LLC now owns 6,476 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 780 shares during the period. Finally, Yorktown Management & Research Co Inc grew its position in shares of Reliance Steel & Aluminum by 7.2% during the 2nd quarter. Yorktown Management & Research Co Inc now owns 11,900 shares of the industrial products company’s stock valued at $1,042,000 after acquiring an additional 800 shares during the period. 83.18% of the stock is owned by institutional investors and hedge funds.

Shares of RS stock opened at $78.16 on Thursday. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 0.93 and a beta of 1.16. Reliance Steel & Aluminum Co has a 52 week low of $74.65 and a 52 week high of $97.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 4.40.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.27). The business had revenue of $2.97 billion for the quarter. Reliance Steel & Aluminum had a net margin of 7.66% and a return on equity of 13.58%. As a group, equities analysts expect that Reliance Steel & Aluminum Co will post 9.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, November 15th. Reliance Steel & Aluminum’s dividend payout ratio is 36.76%.

Several analysts have commented on RS shares. KeyCorp reiterated a “buy” rating and issued a $90.00 price target on shares of Reliance Steel & Aluminum in a research note on Friday, November 30th. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. ValuEngine cut shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. Longbow Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a research note on Monday, October 22nd. Finally, Citigroup started coverage on shares of Reliance Steel & Aluminum in a research note on Monday, September 17th. They issued a “neutral” rating and a $90.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Reliance Steel & Aluminum has a consensus rating of “Hold” and a consensus price target of $94.60.

In other news, Director David H. Hannah sold 28,080 shares of the company’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $2,246,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William A. Smith II sold 5,582 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $78.98, for a total transaction of $440,866.36. The disclosure for this sale can be found here. 3.24% of the stock is currently owned by corporate insiders.

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About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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