Dynamic Technology Lab Private Ltd Has $508,000 Position in Reliance Steel & Aluminum Co (RS)

Dynamic Technology Lab Private Ltd decreased its holdings in Reliance Steel & Aluminum Co (NYSE:RS) by 51.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,959 shares of the industrial products company’s stock after selling 6,358 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Reliance Steel & Aluminum were worth $508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC raised its holdings in shares of Reliance Steel & Aluminum by 107.9% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 750 shares during the last quarter. Twin Tree Management LP acquired a new position in shares of Reliance Steel & Aluminum during the third quarter valued at approximately $174,000. Itau Unibanco Holding S.A. raised its holdings in shares of Reliance Steel & Aluminum by 130.1% during the second quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 1,352 shares during the last quarter. Balasa Dinverno & Foltz LLC acquired a new position in shares of Reliance Steel & Aluminum during the third quarter valued at approximately $209,000. Finally, Private Advisor Group LLC acquired a new position in shares of Reliance Steel & Aluminum during the third quarter valued at approximately $231,000. 83.15% of the stock is owned by institutional investors.

A number of brokerages have commented on RS. KeyCorp reduced their target price on Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating for the company in a report on Monday, September 10th. Macquarie set a $96.00 target price on Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Friday, October 26th. Citigroup cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Deutsche Bank cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and reduced their target price for the company from $100.00 to $90.00 in a report on Tuesday, October 2nd. Finally, Zacks Investment Research raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a report on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $94.00.

In related news, SVP William A. Smith II sold 5,582 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $78.98, for a total value of $440,866.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David H. Hannah sold 28,080 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total value of $2,246,400.00. The disclosure for this sale can be found here. 3.24% of the stock is owned by corporate insiders.

RS stock opened at $73.25 on Tuesday. The company has a quick ratio of 1.92, a current ratio of 4.40 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5.21 billion, a PE ratio of 13.47, a P/E/G ratio of 0.86 and a beta of 1.16. Reliance Steel & Aluminum Co has a 1 year low of $72.96 and a 1 year high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.27). The company had revenue of $2.97 billion during the quarter. Reliance Steel & Aluminum had a net margin of 7.66% and a return on equity of 13.58%. Equities research analysts predict that Reliance Steel & Aluminum Co will post 9.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 16th were given a $0.50 dividend. The ex-dividend date was Thursday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.73%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 36.76%.

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Reliance Steel & Aluminum Profile

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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