Creative Planning Trims Position in Reliance Steel & Aluminum Co (NYSE:RS)

Creative Planning cut its holdings in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,576 shares of the industrial products company’s stock after selling 5,380 shares during the period. Creative Planning owned 0.09% of Reliance Steel & Aluminum worth $5,937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Reliance Steel & Aluminum by 2.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 3,871 shares of the industrial products company’s stock valued at $385,000 after purchasing an additional 85 shares in the last quarter. World Asset Management Inc lifted its holdings in shares of Reliance Steel & Aluminum by 2.2% during the third quarter. World Asset Management Inc now owns 5,380 shares of the industrial products company’s stock valued at $536,000 after purchasing an additional 116 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of Reliance Steel & Aluminum by 5.6% during the second quarter. Zions Bancorporation N.A. now owns 2,450 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 130 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Reliance Steel & Aluminum by 1.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 12,400 shares of the industrial products company’s stock valued at $1,173,000 after purchasing an additional 130 shares in the last quarter. Finally, Zebra Capital Management LLC lifted its holdings in shares of Reliance Steel & Aluminum by 2.3% during the second quarter. Zebra Capital Management LLC now owns 6,467 shares of the industrial products company’s stock valued at $612,000 after purchasing an additional 143 shares in the last quarter. 83.90% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Steel & Aluminum stock traded up $0.19 during mid-day trading on Friday, reaching $117.63. 115,920 shares of the stock traded hands, compared to its average volume of 536,906. The stock has a market capitalization of $7.83 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.37 and a beta of 1.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.01 and a quick ratio of 1.90. Reliance Steel & Aluminum Co has a 12-month low of $68.62 and a 12-month high of $120.85. The business’s 50-day moving average is $105.03 and its 200-day moving average is $96.17.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.44. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Reliance Steel & Aluminum had a return on equity of 12.52% and a net margin of 5.48%. Reliance Steel & Aluminum’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.42 earnings per share. Equities analysts anticipate that Reliance Steel & Aluminum Co will post 9.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, November 14th. Reliance Steel & Aluminum’s payout ratio is 24.61%.

RS has been the topic of a number of research analyst reports. Zacks Investment Research raised Reliance Steel & Aluminum from a “sell” rating to a “hold” rating and set a $103.00 price target on the stock in a report on Friday, October 4th. Deutsche Bank downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and upped their price target for the company from $105.00 to $110.00 in a report on Wednesday, October 30th. Citigroup set a $104.00 price target on Reliance Steel & Aluminum and gave the company a “hold” rating in a report on Friday, July 26th. Bank of America set a $115.00 price objective on Reliance Steel & Aluminum and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Cowen reiterated an “outperform” rating and set a $123.00 price objective (up previously from $107.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, October 29th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $105.00.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

See Also: After-Hours Trading

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co (NYSE:RS).

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

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.