United Services Automobile Association Sells 4,631 Shares of Reliance Steel & Aluminum Co (RS)

United Services Automobile Association trimmed its position in Reliance Steel & Aluminum Co (NYSE:RS) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,437 shares of the industrial products company’s stock after selling 4,631 shares during the period. United Services Automobile Association owned 0.14% of Reliance Steel & Aluminum worth $8,880,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in Reliance Steel & Aluminum by 41.7% in the second quarter. Advisors Asset Management Inc. now owns 25,079 shares of the industrial products company’s stock worth $2,195,000 after acquiring an additional 7,380 shares in the last quarter. Global X Management Co LLC boosted its holdings in Reliance Steel & Aluminum by 17.8% in the second quarter. Global X Management Co LLC now owns 17,728 shares of the industrial products company’s stock worth $1,552,000 after acquiring an additional 2,675 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Reliance Steel & Aluminum by 73.3% in the second quarter. Verition Fund Management LLC now owns 8,533 shares of the industrial products company’s stock worth $747,000 after acquiring an additional 3,610 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Reliance Steel & Aluminum by 7.8% in the second quarter. California Public Employees Retirement System now owns 228,462 shares of the industrial products company’s stock worth $20,000,000 after acquiring an additional 16,467 shares in the last quarter. Finally, Lingohr & Partner Asset Management GmbH bought a new stake in Reliance Steel & Aluminum in the second quarter worth $1,363,000. 80.98% of the stock is currently owned by institutional investors.

In other news, Director David H. Hannah sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total transaction of $2,251,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.24% of the company’s stock.

Shares of NYSE:RS opened at $84.99 on Tuesday. The firm has a market cap of $6.17 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.76 and a current ratio of 4.06. Reliance Steel & Aluminum Co has a 1 year low of $72.69 and a 1 year high of $97.41.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings results on Thursday, July 26th. The industrial products company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.35. The firm had revenue of $2.99 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 12.29% and a net margin of 7.55%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 earnings per share. On average, research analysts predict that Reliance Steel & Aluminum Co will post 9.82 earnings per share for the current fiscal year.

RS has been the topic of several analyst reports. Bank of America downgraded Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 target price on the stock. in a report on Friday, September 7th. KeyCorp dropped their target price on Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, September 10th. Zacks Investment Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Monday, September 3rd. Jefferies Financial Group raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, July 10th. Finally, Citigroup assumed coverage on Reliance Steel & Aluminum in a report on Monday, September 17th. They issued a “neutral” rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $95.22.

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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