Schroder Investment Management Group lifted its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 39.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 477,287 shares of the industrial products company’s stock after buying an additional 135,860 shares during the period. Schroder Investment Management Group owned approximately 0.65% of Reliance Steel & Aluminum worth $36,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Huntington National Bank raised its stake in Reliance Steel & Aluminum by 267.8% during the third quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 1,173 shares during the period. Global X Management Co. LLC raised its stake in Reliance Steel & Aluminum by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 1,584 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Reliance Steel & Aluminum by 15.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 382 shares during the last quarter. NTV Asset Management LLC acquired a new stake in shares of Reliance Steel & Aluminum during the third quarter valued at about $209,000. Finally, Timber Hill LLC acquired a new stake in shares of Reliance Steel & Aluminum during the third quarter valued at about $224,000. 82.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down $0.04 during mid-day trading on Friday, hitting $78.57. 629,205 shares of the company were exchanged, compared to its average volume of 382,288. The company has a quick ratio of 1.79, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $5,731.87, a PE ratio of 15.54, a P/E/G ratio of 1.68 and a beta of 1.29. Reliance Steel & Aluminum Co. has a 52-week low of $68.46 and a 52-week high of $88.58.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.11. The firm had revenue of $2.45 billion during the quarter. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. equities analysts forecast that Reliance Steel & Aluminum Co. will post 5.21 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, November 16th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is currently 35.43%.

A number of equities research analysts have weighed in on RS shares. Jefferies Group reiterated a “hold” rating on shares of Reliance Steel & Aluminum in a research report on Thursday, August 31st. Cowen reiterated a “buy” rating and set a $92.00 price target on shares of Reliance Steel & Aluminum in a research report on Friday, September 1st. Bank of America reiterated a “buy” rating and set a $89.00 price target (up from $88.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, September 5th. Macquarie started coverage on shares of Reliance Steel & Aluminum in a research report on Wednesday, September 6th. They set an “outperform” rating for the company. Finally, Zacks Investment Research upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Reliance Steel & Aluminum currently has an average rating of “Buy” and a consensus target price of $82.00.

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About Reliance Steel & Aluminum

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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