Reliance Steel & Aluminum Co (NYSE:RS) – Equities researchers at KeyCorp issued their FY2021 earnings estimates for shares of Reliance Steel & Aluminum in a note issued to investors on Monday, March 23rd. KeyCorp analyst P. Gibbs anticipates that the industrial products company will post earnings of $6.60 per share for the year. KeyCorp currently has a “Overweight” rating and a $88.00 price target on the stock.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, February 20th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.71. Reliance Steel & Aluminum had a net margin of 6.39% and a return on equity of 13.98%. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company posted $1.08 EPS. The company’s quarterly revenue was down 13.0% compared to the same quarter last year.

Other research analysts have also issued reports about the company. Cowen lowered Reliance Steel & Aluminum from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $123.00 to $122.00 in a research report on Tuesday, January 21st. They noted that the move was a valuation call. Zacks Investment Research downgraded Reliance Steel & Aluminum from a “hold” rating to a “sell” rating and set a $128.00 target price for the company. in a research report on Wednesday, January 15th. Finally, ValuEngine raised Reliance Steel & Aluminum from a “sell” rating to a “hold” rating in a research note on Friday, March 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $107.70.

RS stock opened at $83.37 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.46 and a quick ratio of 2.02. The company has a 50 day moving average price of $101.72 and a 200 day moving average price of $109.90. Reliance Steel & Aluminum has a fifty-two week low of $70.57 and a fifty-two week high of $122.17. The stock has a market capitalization of $5.54 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 1.16 and a beta of 1.28.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.625 dividend. This is a positive change from Reliance Steel & Aluminum’s previous quarterly dividend of $0.55. This represents a $2.50 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, March 12th. Reliance Steel & Aluminum’s dividend payout ratio is currently 24.18%.

In other Reliance Steel & Aluminum news, CFO Karla R. Lewis sold 18,954 shares of Reliance Steel & Aluminum stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $107.26, for a total transaction of $2,033,006.04. Following the completion of the sale, the chief financial officer now owns 105,430 shares of the company’s stock, valued at approximately $11,308,421.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.43% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in RS. Louisiana State Employees Retirement System increased its stake in Reliance Steel & Aluminum by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the industrial products company’s stock valued at $1,928,000 after purchasing an additional 100 shares in the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of Reliance Steel & Aluminum by 0.5% in the 4th quarter. Virginia Retirement Systems ET AL now owns 18,900 shares of the industrial products company’s stock valued at $2,263,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Reliance Steel & Aluminum by 1.1% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 12,360 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 130 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Reliance Steel & Aluminum by 5.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,572 shares of the industrial products company’s stock valued at $309,000 after buying an additional 140 shares in the last quarter. Finally, O Shares Investment Advisers LLC raised its stake in Reliance Steel & Aluminum by 1.5% during the 4th quarter. O Shares Investment Advisers LLC now owns 10,995 shares of the industrial products company’s stock worth $1,317,000 after buying an additional 159 shares during the period. 83.76% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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