Parametric Portfolio Associates LLC Raises Stock Holdings in Reliance Steel & Aluminum Co (NYSE:RS)

Parametric Portfolio Associates LLC increased its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 17.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 310,609 shares of the industrial products company’s stock after acquiring an additional 45,163 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Reliance Steel & Aluminum were worth $30,955,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. FinTrust Capital Advisors LLC purchased a new position in shares of Reliance Steel & Aluminum in the second quarter valued at $32,000. Rehmann Capital Advisory Group raised its holdings in shares of Reliance Steel & Aluminum by 997.4% in the 2nd quarter. Rehmann Capital Advisory Group now owns 417 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 379 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Reliance Steel & Aluminum by 39.4% in the second quarter. Advisory Services Network LLC now owns 619 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 175 shares during the last quarter. Parallel Advisors LLC raised its stake in Reliance Steel & Aluminum by 50.9% in the second quarter. Parallel Advisors LLC now owns 803 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 271 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Reliance Steel & Aluminum by 56.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 905 shares of the industrial products company’s stock valued at $86,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

Shares of RS stock opened at $118.03 on Wednesday. The company has a market capitalization of $7.86 billion, a P/E ratio of 13.20, a PEG ratio of 1.37 and a beta of 1.35. Reliance Steel & Aluminum Co has a fifty-two week low of $68.62 and a fifty-two week high of $120.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.90 and a current ratio of 4.01. The stock has a 50 day moving average price of $113.43 and a two-hundred day moving average price of $99.45.

Reliance Steel & Aluminum (NYSE:RS) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $1.95 by $0.44. Reliance Steel & Aluminum had a net margin of 5.48% and a return on equity of 12.52%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, equities analysts predict that Reliance Steel & Aluminum Co will post 9.6 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, November 14th. Reliance Steel & Aluminum’s payout ratio is 24.61%.

A number of research firms have weighed in on RS. Cowen restated an “outperform” rating and set a $123.00 price target (up previously from $107.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, October 29th. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “sell” rating to a “hold” rating and set a $103.00 target price for the company in a research report on Friday, October 4th. KeyCorp increased their price target on shares of Reliance Steel & Aluminum from $107.00 to $109.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Bank of America set a $115.00 price target on shares of Reliance Steel & Aluminum and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, BNP Paribas assumed coverage on shares of Reliance Steel & Aluminum in a research note on Thursday, November 14th. They issued a “hold” rating and a $117.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Reliance Steel & Aluminum currently has an average rating of “Hold” and an average price target of $107.40.

In related news, SVP William A. Smith II sold 5,320 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $116.36, for a total transaction of $619,035.20. Following the completion of the transaction, the senior vice president now owns 11,320 shares in the company, valued at $1,317,195.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Stephen Paul Koch sold 6,040 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $116.31, for a total value of $702,512.40. Following the completion of the sale, the vice president now directly owns 12,360 shares of the company’s stock, valued at approximately $1,437,591.60. The disclosure for this sale can be found here. Insiders sold 19,160 shares of company stock worth $2,228,532 in the last 90 days. Corporate insiders own 3.43% of the company’s stock.

Reliance Steel & Aluminum 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.

Read More: Death Cross

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co (NYSE:RS).

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.