Zebra Capital Management LLC decreased its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,978 shares of the industrial products company’s stock after selling 1,068 shares during the period. Zebra Capital Management LLC’s holdings in Reliance Steel & Aluminum were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Reliance Steel & Aluminum by 1.7% in the second quarter. BlackRock Inc. now owns 6,880,203 shares of the industrial products company’s stock worth $602,292,000 after purchasing an additional 115,704 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Reliance Steel & Aluminum by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,581,731 shares of the industrial products company’s stock valued at $226,010,000 after acquiring an additional 18,241 shares in the last quarter. Acadian Asset Management LLC raised its position in Reliance Steel & Aluminum by 13.7% during the second quarter. Acadian Asset Management LLC now owns 1,637,282 shares of the industrial products company’s stock valued at $143,324,000 after acquiring an additional 196,890 shares in the last quarter. LSV Asset Management raised its position in Reliance Steel & Aluminum by 8.8% during the second quarter. LSV Asset Management now owns 963,374 shares of the industrial products company’s stock valued at $84,333,000 after acquiring an additional 77,756 shares in the last quarter. Finally, Luminus Management LLC raised its position in Reliance Steel & Aluminum by 13.1% during the second quarter. Luminus Management LLC now owns 934,905 shares of the industrial products company’s stock valued at $81,842,000 after acquiring an additional 108,400 shares in the last quarter. Institutional investors own 80.98% of the company’s stock.

Reliance Steel & Aluminum stock opened at $83.72 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.06 and a quick ratio of 1.76. Reliance Steel & Aluminum Co has a 12-month low of $72.69 and a 12-month high of $97.41. The stock has a market capitalization of $6.17 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings results on Thursday, July 26th. The industrial products company reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.35. The business had revenue of $2.99 billion during the quarter. Reliance Steel & Aluminum had a return on equity of 12.29% and a net margin of 7.55%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, sell-side analysts predict that Reliance Steel & Aluminum Co will post 9.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 17th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, August 16th. This represents a $2.00 annualized dividend and a yield of 2.39%. Reliance Steel & Aluminum’s dividend payout ratio is currently 36.76%.

In other news, Director David H. Hannah sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total transaction of $2,251,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.24% of the company’s stock.

Several equities analysts have commented on the company. KeyCorp lowered their price target on Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, September 10th. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Wednesday, September 5th. Jefferies Financial Group upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Tuesday, July 10th. ValuEngine downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. Finally, Citigroup downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Reliance Steel & Aluminum presently has an average rating of “Hold” and an average price target of $95.22.

About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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