Today, Creative Planning invests in 586 by buying Reliance Steel & Aluminum Co. (RS) shares

Today, Creative Planning invests in 586 by buying Reliance Steel & Aluminum Co. (RS) shares
Creative Planning increased its stake in Reliance Steel & Aluminum Co. (NYSE:RS) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,554 shares of the company’s stock after buying an additional 586 shares during the period. Creative Planning’s holdings in Reliance Steel & Aluminum Co. were worth $1,841,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RS. C M Bidwell & Associates Ltd. acquired a new stake in Reliance Steel & Aluminum Co. during the second quarter worth approximately $100,000. Paradigm Asset Management Co. LLC increased its stake in Reliance Steel & Aluminum Co. by 4.9% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,151 shares of the company’s stock worth $165,000 after buying an additional 100 shares during the period. NTV Asset Management LLC acquired a new stake in Reliance Steel & Aluminum Co. during the second quarter worth approximately $211,000. Breton Hill Capital Ltd. acquired a new stake in Reliance Steel & Aluminum Co. during the second quarter worth approximately $215,000. Finally, Sei Investments Co. increased its stake in Reliance Steel & Aluminum Co. by 275.8% in the second quarter. Sei Investments Co. now owns 3,063 shares of the company’s stock worth $236,000 after buying an additional 2,248 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Reliance Steel & Aluminum Co. (NYSE:RS) traded up 0.12% during trading on Friday, hitting $83.31. The stock had a trading volume of 250,172 shares. The company has a 50 day moving average of $72.41 and a 200-day moving average of $74.08. The company has a market cap of $6.05 billion, a P/E ratio of 19.52 and a beta of 1.25. Reliance Steel & Aluminum Co. has a 12-month low of $50.08 and a 12-month high of $84.25.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its earnings results on Thursday, October 20th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.32 by $0.07. Reliance Steel & Aluminum Co. had a net margin of 3.63% and a return on equity of 8.10%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts predict that Reliance Steel & Aluminum Co. will post $4.40 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, November 18th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, November 16th. Reliance Steel & Aluminum Co.’s payout ratio is 39.81%.

A number of research analysts have recently weighed in on the company. Jefferies Group restated a “hold” rating on shares of Reliance Steel & Aluminum Co. in a research report on Saturday, October 1st. Zacks Investment Research cut Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Deutsche Bank AG upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and dropped their price target for the company from $75.00 to $74.00 in a research report on Wednesday, November 9th. TheStreet cut Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a research report on Thursday, October 20th. Finally, Clarkson Capital upgraded Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $78.78.

In related news, EVP William K. Sales, Jr. sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $81.56, for a total transaction of $2,039,000.00. Following the transaction, the executive vice president now directly owns 102,843 shares of the company’s stock, valued at $8,387,875.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.73% of the company’s stock.

Reliance Steel & Aluminum Co. Company Profile

Reliance Steel & Aluminum Co is a metals service center company. The Company operates through metals service centers segment. The Company’s network of metals service centers operates over 300 locations in approximately 40 states in the United States and in other countries, including Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom.

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