Hilton Capital Management LLC Purchases New Shares in Reliance Steel & Aluminum Co (NYSE:RS)

Hilton Capital Management LLC purchased a new stake in Reliance Steel & Aluminum Co (NYSE:RS) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,096 shares of the industrial products company’s stock, valued at approximately $99,000.

Other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in shares of Reliance Steel & Aluminum by 7,017.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,033,327 shares of the industrial products company’s stock valued at $29,000 after buying an additional 2,004,757 shares during the period. Norges Bank acquired a new position in shares of Reliance Steel & Aluminum in the fourth quarter valued at approximately $52,211,000. Poplar Forest Capital LLC increased its stake in shares of Reliance Steel & Aluminum by 38.2% in the fourth quarter. Poplar Forest Capital LLC now owns 790,061 shares of the industrial products company’s stock valued at $56,229,000 after buying an additional 218,217 shares during the period. Victory Capital Management Inc. increased its stake in shares of Reliance Steel & Aluminum by 2.2% in the first quarter. Victory Capital Management Inc. now owns 4,091,752 shares of the industrial products company’s stock valued at $369,322,000 after buying an additional 89,812 shares during the period. Finally, Twin Tree Management LP acquired a new position in shares of Reliance Steel & Aluminum in the first quarter valued at approximately $5,865,000. 81.41% of the stock is owned by institutional investors and hedge funds.

Shares of RS traded down $0.45 during trading hours on Friday, reaching $93.94. The stock had a trading volume of 251,902 shares, compared to its average volume of 369,856. Reliance Steel & Aluminum Co has a 12 month low of $68.62 and a 12 month high of $95.66. The stock’s 50-day moving average is $88.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.06 and a quick ratio of 1.85. The firm has a market cap of $6.32 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 1.14 and a beta of 1.31.

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

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, May 23rd. Reliance Steel & Aluminum’s payout ratio is currently 24.61%.

Several analysts recently commented on the company. Deutsche Bank upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $84.82 target price on the stock in a report on Thursday, May 30th. Cowen set a $100.00 target price on Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Wednesday, June 26th. Bank of America reiterated a “neutral” rating and issued a $98.00 target price on shares of Reliance Steel & Aluminum in a report on Friday, May 31st. Longbow Research cut Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 target price on the stock. in a report on Thursday, April 18th. Finally, Jefferies Financial Group cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and cut their price target for the stock from $105.00 to $100.00 in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $94.58.

In other news, VP Jeffrey Wayne Durham sold 2,675 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $92.29, for a total transaction of $246,875.75. Following the completion of the transaction, the vice president now owns 8,255 shares in the company, valued at approximately $761,853.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen Paul Koch sold 11,333 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $91.62, for a total value of $1,038,329.46. Following the transaction, the vice president now owns 22,187 shares of the company’s stock, valued at approximately $2,032,772.94. The disclosure for this sale can be found here. Insiders sold a total of 39,008 shares of company stock valued at $3,580,455 over the last three months. 3.43% of the stock is currently owned by insiders.

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

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