Insider Selling: Reliance Steel & Aluminum Co (RS) VP Sells $1,210,758.75 in Stock

Reliance Steel & Aluminum Co (NYSE:RS) VP Stephen Paul Koch sold 12,645 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $95.75, for a total transaction of $1,210,758.75. Following the completion of the transaction, the vice president now owns 19,020 shares in the company, valued at approximately $1,821,165. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of Reliance Steel & Aluminum opened at $94.03 on Friday, according to MarketBeat.com. The company has a market cap of $6.86 billion, a PE ratio of 17.28, a PEG ratio of 1.25 and a beta of 1.18. Reliance Steel & Aluminum Co has a 12 month low of $68.46 and a 12 month high of $96.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.76 and a current ratio of 3.93.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings data on Thursday, April 26th. The industrial products company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.29. The business had revenue of $2.76 billion for the quarter. Reliance Steel & Aluminum had a net margin of 6.67% and a return on equity of 10.01%. Reliance Steel & Aluminum’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. analysts forecast that Reliance Steel & Aluminum Co will post 8.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, May 25th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, May 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. Reliance Steel & Aluminum’s payout ratio is 36.76%.

Several hedge funds and other institutional investors have recently modified their holdings of RS. Schwab Charles Investment Management Inc. grew its stake in Reliance Steel & Aluminum by 6.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 292,731 shares of the industrial products company’s stock valued at $25,114,000 after acquiring an additional 18,830 shares during the period. Palo Capital Inc. grew its stake in Reliance Steel & Aluminum by 6.5% in the 4th quarter. Palo Capital Inc. now owns 23,078 shares of the industrial products company’s stock valued at $1,980,000 after acquiring an additional 1,411 shares during the period. Smith Graham & Co. Investment Advisors LP grew its stake in Reliance Steel & Aluminum by 21.8% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 63,400 shares of the industrial products company’s stock valued at $5,439,000 after acquiring an additional 11,330 shares during the period. Cerebellum GP LLC acquired a new stake in Reliance Steel & Aluminum in the 4th quarter valued at $106,000. Finally, SG Americas Securities LLC grew its stake in Reliance Steel & Aluminum by 1,234.6% in the 4th quarter. SG Americas Securities LLC now owns 23,942 shares of the industrial products company’s stock valued at $2,054,000 after acquiring an additional 22,148 shares during the period. 81.02% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on RS shares. Zacks Investment Research upgraded shares of 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 Tuesday, April 17th. Deutsche Bank cut their price target on shares of Reliance Steel & Aluminum from $100.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, March 29th. ValuEngine upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Longbow Research raised shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. Finally, Goldman Sachs Group started coverage on shares of Reliance Steel & Aluminum in a research note on Tuesday, March 20th. They set a “neutral” rating and a $103.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $96.71.

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.

Insider Buying and Selling by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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