Reliance Steel & Aluminum Co (NYSE:RS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Reliance Steel & Aluminum Co (NYSE:RS) have received an average recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $94.20.

Several brokerages have weighed in on RS. Longbow Research downgraded Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 price target for the company. in a report on Thursday, April 18th. Jefferies Financial Group downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and lowered their price target for the stock from $105.00 to $100.00 in a report on Friday, April 26th. Citigroup set a $98.00 price target on Reliance Steel & Aluminum and gave the stock a “hold” rating in a report on Monday, May 20th. Deutsche Bank raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $84.82 price target for the company in a report on Thursday, May 30th. Finally, Bank of America reissued a “neutral” rating and issued a $98.00 price target on shares of Reliance Steel & Aluminum in a report on Friday, May 31st.

In other news, VP Jeffrey Wayne Durham sold 2,675 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $92.29, for a total value of $246,875.75. Following the completion of the transaction, the vice president now directly owns 8,255 shares in the company, valued at $761,853.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregg J. Mollins sold 25,000 shares of the firm’s stock in a transaction dated 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 sold 39,008 shares of company stock valued at $3,580,455. Corporate insiders own 3.43% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc raised its stake 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 worth $540,790,000 after purchasing an additional 39,418 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Reliance Steel & Aluminum by 17.0% in the 4th quarter. Advisors Asset Management Inc. now owns 33,907 shares of the industrial products company’s stock worth $2,413,000 after purchasing an additional 4,930 shares in the last quarter. LPL Financial LLC raised its stake in Reliance Steel & Aluminum by 5.0% in the 4th quarter. LPL Financial LLC now owns 12,840 shares of the industrial products company’s stock worth $914,000 after purchasing an additional 606 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Reliance Steel & Aluminum by 48.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,601 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 2,491 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in Reliance Steel & Aluminum by 1.2% in the 4th quarter. Texas Permanent School Fund now owns 46,090 shares of the industrial products company’s stock worth $3,280,000 after purchasing an additional 567 shares in the last quarter. Hedge funds and other institutional investors own 81.41% of the company’s stock.

Shares of RS stock opened at $94.62 on Friday. Reliance Steel & Aluminum has a 1-year low of $68.62 and a 1-year high of $94.97. The company’s 50-day moving average is $87.81. The company has a market capitalization of $6.25 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.85 and a current ratio of 4.06.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the company earned $2.30 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Reliance Steel & Aluminum will post 9.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, May 23rd. Reliance Steel & Aluminum’s dividend payout ratio is presently 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.

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Analyst Recommendations for Reliance Steel & Aluminum (NYSE:RS)

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