Reliance Steel & Aluminum Co. (NYSE:RS) Stock Holdings Increased by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC increased its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,142 shares of the industrial products company’s stock after purchasing an additional 983 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Reliance Steel & Aluminum were worth $1,729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RS. FMR LLC raised its holdings in shares of Reliance Steel & Aluminum by 249.2% in the 1st quarter. FMR LLC now owns 227,173 shares of the industrial products company’s stock worth $20,504,000 after purchasing an additional 162,118 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Reliance Steel & Aluminum by 896.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 777 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 699 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Reliance Steel & Aluminum by 17.7% in the 2nd quarter. Citigroup Inc. now owns 57,810 shares of the industrial products company’s stock worth $8,724,000 after purchasing an additional 8,693 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Reliance Steel & Aluminum by 56.8% in the 2nd quarter. Van ECK Associates Corp now owns 62,261 shares of the industrial products company’s stock worth $9,395,000 after purchasing an additional 22,559 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Reliance Steel & Aluminum by 9.5% in the 2nd quarter. Principal Financial Group Inc. now owns 283,146 shares of the industrial products company’s stock worth $42,726,000 after purchasing an additional 24,639 shares in the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.

RS traded up $0.74 on Friday, reaching $166.33. 169,367 shares of the company traded hands, compared to its average volume of 233,836. The stock’s 50 day moving average price is $160.42 and its 200-day moving average price is $153.38. Reliance Steel & Aluminum Co. has a 52-week low of $114.26 and a 52-week high of $181.21. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 9.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.25 and a quick ratio of 2.39.

Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Wednesday, October 27th. The industrial products company reported $6.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.95 by $0.20. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.75 billion. Reliance Steel & Aluminum had a net margin of 9.16% and a return on equity of 20.36%. The company’s revenue for the quarter was up 84.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.87 earnings per share. As a group, equities research analysts forecast that Reliance Steel & Aluminum Co. will post 20.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 19th were given a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, November 18th. Reliance Steel & Aluminum’s dividend payout ratio is 15.84%.

In other news, SVP William A. Smith II sold 5,598 shares of the business’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $164.93, for a total value of $923,278.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.43% of the company’s stock.

Several research analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Reliance Steel & Aluminum in a research report on Tuesday, November 16th. They issued an “underperform” rating and a $158.00 target price on the stock. The Goldman Sachs Group raised shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $162.00 to $190.00 in a research report on Wednesday, November 3rd. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a “strong-buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Friday, September 24th. Finally, KeyCorp lifted their target price on shares of Reliance Steel & Aluminum from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Reliance Steel & Aluminum has an average rating of “Buy” and an average target price of $172.89.

Reliance Steel & Aluminum Profile

Reliance Steel & Aluminum Co engages in the provision of metals processing services and distribution of metal products. It offers alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. The company was founded by Thomas J. Neilan on February 3, 1939 and is headquartered in Los Angeles, CA.

Featured Story: What is the LIBOR?

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.