Ontario Teachers Pension Plan Board Invests $1.31 Million in Reliance Steel & Aluminum Co (NYSE:RS)

Ontario Teachers Pension Plan Board bought a new stake in Reliance Steel & Aluminum Co (NYSE:RS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,474 shares of the industrial products company’s stock, valued at approximately $1,306,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc boosted its holdings in Reliance Steel & Aluminum by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 6,340,594 shares of the industrial products company’s stock valued at $540,790,000 after purchasing an additional 39,418 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Reliance Steel & Aluminum by 5.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,899 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 255 shares during the period. Advisors Asset Management Inc. increased its position in Reliance Steel & Aluminum by 17.0% during the fourth quarter. Advisors Asset Management Inc. now owns 33,907 shares of the industrial products company’s stock worth $2,413,000 after acquiring an additional 4,930 shares during the period. Rhumbline Advisers increased its position in Reliance Steel & Aluminum by 43.3% during the fourth quarter. Rhumbline Advisers now owns 181,638 shares of the industrial products company’s stock worth $12,927,000 after acquiring an additional 54,922 shares during the period. Finally, First Mercantile Trust Co. increased its position in Reliance Steel & Aluminum by 49.1% during the fourth quarter. First Mercantile Trust Co. now owns 790 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 260 shares during the period. 81.41% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Stephen Paul Koch sold 11,333 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $91.62, for a total transaction of $1,038,329.46. Following the completion of the transaction, the vice president now directly owns 22,187 shares in the company, valued at $2,032,772.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregg J. Mollins sold 25,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $91.81, for a total value of $2,295,250.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,008 shares of company stock valued at $3,580,455. 3.43% of the stock is owned by insiders.

A number of equities analysts recently commented on RS shares. Citigroup set a $98.00 price target on shares of Reliance Steel & Aluminum and gave the stock a “hold” rating in a research report on Monday, May 20th. Jefferies Financial Group lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and cut their price objective for the company from $105.00 to $100.00 in a report on Friday, April 26th. Longbow Research lowered Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a report on Thursday, April 18th. Bank of America reissued a “neutral” rating and issued a $98.00 price objective on shares of Reliance Steel & Aluminum in a report on Friday, May 31st. Finally, Cowen set a $100.00 price objective on Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $94.58.

RS stock traded up $0.90 during mid-day trading on Monday, reaching $95.52. 382,445 shares of the company’s stock were exchanged, compared to its average volume of 433,476. The firm has a market capitalization of $6.36 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31. The firm has a 50 day moving average of $88.03. The company has a current ratio of 4.06, a quick ratio of 1.85 and a debt-to-equity ratio of 0.47. Reliance Steel & Aluminum Co has a 12-month low of $68.62 and a 12-month high of $95.66.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.38 by $0.42. Reliance Steel & Aluminum had a return on equity of 13.70% and a net margin of 5.58%. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the firm earned $2.30 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that Reliance Steel & Aluminum Co will post 9.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.20 annualized dividend and a yield of 2.30%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is 24.61%.

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.

Featured Article: Retained Earnings

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

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.