Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Reliance Steel & Aluminum Co. (NYSE:RS) by 633.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,552 shares of the industrial products company’s stock after purchasing an additional 2,204 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Reliance Steel & Aluminum were worth $194,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RS. Grove Bank & Trust raised its position in Reliance Steel & Aluminum by 117.8% during the 3rd quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock worth $121,000 after buying an additional 860 shares during the last quarter. Huntington National Bank raised its position in Reliance Steel & Aluminum 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 last quarter. Zions Bancorporation purchased a new position in Reliance Steel & Aluminum during the 3rd quarter worth approximately $144,000. Global X Management Co. LLC raised its position in Reliance Steel & Aluminum 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 last quarter. Finally, Private Advisor Group LLC purchased a new position in Reliance Steel & Aluminum during the 3rd quarter worth approximately $201,000. 82.34% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP William A. Smith II sold 1,123 shares of Reliance Steel & Aluminum stock in a transaction on Friday, December 8th. The shares were sold at an average price of $82.69, for a total value of $92,860.87. Following the sale, the senior vice president now owns 15,320 shares of the company’s stock, valued at approximately $1,266,810.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.73% of the stock is owned by company insiders.

A number of research firms have issued reports on RS. Clarkson Capital reissued a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. Cowen reaffirmed a “buy” rating and set a $92.00 price objective on shares of Reliance Steel & Aluminum in a research note on Friday, September 1st. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Monday, October 16th. ValuEngine cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Bank of America reaffirmed a “buy” rating and set a $89.00 price objective (up previously from $88.00) on shares of Reliance Steel & Aluminum in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.33.

Shares of Reliance Steel & Aluminum Co. (NYSE RS) opened at $82.71 on Monday. The company has a market cap of $6,034.81, a P/E ratio of 16.36, a PEG ratio of 1.76 and a beta of 1.29. Reliance Steel & Aluminum Co. has a one year low of $68.46 and a one year high of $88.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 4.06.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. The business had revenue of $2.45 billion for the quarter. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. Reliance Steel & Aluminum’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. research analysts forecast that Reliance Steel & Aluminum Co. will post 5.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, November 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.18%. Reliance Steel & Aluminum’s payout ratio is 35.43%.

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Reliance Steel & Aluminum 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).

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

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