Lido Advisors LLC Has $295,000 Holdings in Reliance Steel & Aluminum Co. (NYSE:RS)

Lido Advisors LLC lifted its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 17.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,085 shares of the industrial products company’s stock after acquiring an additional 164 shares during the quarter. Lido Advisors LLC’s holdings in Reliance Steel & Aluminum were worth $295,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Zions Bancorporation N.A. grew its stake in shares of Reliance Steel & Aluminum by 0.7% in the second quarter. Zions Bancorporation N.A. now owns 5,296 shares of the industrial products company’s stock valued at $1,438,000 after acquiring an additional 35 shares in the last quarter. Occidental Asset Management LLC grew its stake in Reliance Steel & Aluminum by 0.3% during the second quarter. Occidental Asset Management LLC now owns 13,962 shares of the industrial products company’s stock worth $3,792,000 after buying an additional 41 shares in the last quarter. Signaturefd LLC grew its stake in Reliance Steel & Aluminum by 4.0% during the second quarter. Signaturefd LLC now owns 1,209 shares of the industrial products company’s stock worth $328,000 after buying an additional 47 shares in the last quarter. Convergence Investment Partners LLC grew its stake in Reliance Steel & Aluminum by 7.8% during the first quarter. Convergence Investment Partners LLC now owns 786 shares of the industrial products company’s stock worth $202,000 after buying an additional 57 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Reliance Steel & Aluminum by 0.4% during the first quarter. Cerity Partners LLC now owns 17,686 shares of the industrial products company’s stock worth $4,261,000 after buying an additional 63 shares in the last quarter. 80.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RS. StockNews.com upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. KeyCorp reduced their price objective on shares of Reliance Steel & Aluminum from $290.00 to $285.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Reliance Steel & Aluminum has a consensus rating of “Moderate Buy” and a consensus price target of $275.00.

Insider Activity at Reliance Steel & Aluminum

In related news, CEO Karla R. Lewis sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $284.15, for a total value of $2,841,500.00. Following the completion of the transaction, the chief executive officer now owns 111,258 shares in the company, valued at approximately $31,613,960.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.62% of the stock is owned by company insiders.

Reliance Steel & Aluminum Trading Down 0.9 %

RS opened at $269.90 on Tuesday. The company’s 50 day moving average is $260.93 and its 200-day moving average is $264.36. Reliance Steel & Aluminum Co. has a 1-year low of $196.11 and a 1-year high of $295.98. The company has a current ratio of 5.53, a quick ratio of 3.13 and a debt-to-equity ratio of 0.15. The company has a market cap of $15.51 billion, a P/E ratio of 11.35 and a beta of 0.93.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $5.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $5.00. Reliance Steel & Aluminum had a net margin of 9.38% and a return on equity of 18.92%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the company posted $6.48 EPS. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. Equities research analysts predict that Reliance Steel & Aluminum Co. will post 21.84 earnings per share for the current fiscal year.

Reliance Steel & Aluminum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a $1.00 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.00 dividend on an annualized basis and a yield of 1.48%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 16.81%.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.