Today: The Insider Selling: Reliance Steel & Aluminum Co. (RS) EVP Sold $2,039,000.00 in Stock

The Insider Selling: Reliance Steel & Aluminum Co. (RS) EVP Sold $2,039,000.00 in Stock

Reliance Steel & Aluminum Co. (NYSE:RS) EVP William K. Sales, Jr. sold 25,000 shares of Reliance Steel & Aluminum Co. stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $81.56, for a total transaction of $2,039,000.00. Following the completion of the sale, the executive vice president now owns 102,843 shares in the company, valued at $8,387,875.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at 83.31 on Monday. Reliance Steel & Aluminum Co. has a 12-month low of $50.08 and a 12-month high of $84.25. 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 capitalization of $6.05 billion, a P/E ratio of 19.52 and a beta of 1.25.

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

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

Large investors have recently bought and sold shares of the company. Retirement Systems of Alabama raised its stake in Reliance Steel & Aluminum Co. by 0.3% in the second quarter. Retirement Systems of Alabama now owns 209,626 shares of the company’s stock valued at $16,120,000 after buying an additional 640 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Reliance Steel & Aluminum Co. by 136.7% in the second quarter. American Century Companies Inc. now owns 49,063 shares of the company’s stock worth $3,773,000 after buying an additional 28,339 shares in the last quarter. Gareth Morgan Investments Limited Partnership bought a new stake in shares of Reliance Steel & Aluminum Co. during the second quarter worth approximately $3,239,000. Societe Generale bought a new stake in shares of Reliance Steel & Aluminum Co. during the second quarter worth approximately $1,875,000. Finally, Synovus Financial Corp raised its stake in shares of Reliance Steel & Aluminum Co. by 0.6% in the second quarter. Synovus Financial Corp now owns 3,263 shares of the company’s stock worth $250,000 after buying an additional 19 shares in the last quarter. 83.30% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on RS shares. TheStreet upgraded shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating in a research report on Tuesday, November 22nd. Jefferies Group restated a “hold” rating and set a $72.00 price target on shares of Reliance Steel & Aluminum Co. in a research report on Friday, September 16th. Clarkson Capital upgraded shares of Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 18th. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Finally, Deutsche Bank AG upgraded shares of Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and dropped their price target for the stock from $75.00 to $74.00 in a research report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.78.

About Reliance Steel & Aluminum Co.

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