Opus Capital Group LLC Invests $339,000 in Reliance Steel & Aluminum Co (RS)

Opus Capital Group LLC acquired a new stake in Reliance Steel & Aluminum Co (NYSE:RS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,982 shares of the industrial products company’s stock, valued at approximately $339,000.

Several other institutional investors have also recently made changes to their positions in RS. Millennium Management LLC raised its position in shares of Reliance Steel & Aluminum by 166.3% during the second quarter. Millennium Management LLC now owns 461,240 shares of the industrial products company’s stock worth $40,377,000 after purchasing an additional 288,069 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Reliance Steel & Aluminum during the second quarter worth $20,471,000. Acadian Asset Management LLC raised its position in shares of Reliance Steel & Aluminum by 13.7% during the second quarter. Acadian Asset Management LLC now owns 1,637,282 shares of the industrial products company’s stock worth $143,324,000 after purchasing an additional 196,890 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Reliance Steel & Aluminum during the second quarter worth $15,509,000. Finally, First Quadrant L P CA raised its position in shares of Reliance Steel & Aluminum by 332.3% during the third quarter. First Quadrant L P CA now owns 212,307 shares of the industrial products company’s stock worth $18,108,000 after purchasing an additional 163,193 shares during the period. Institutional investors and hedge funds own 84.12% of the company’s stock.

A number of brokerages have recently issued reports on RS. JPMorgan Chase & Co. boosted their target price on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Bank of America lowered Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 target price on the stock. in a research report on Friday, September 7th. Zacks Investment Research raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Wednesday, September 5th. Citigroup lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Deutsche Bank lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and cut their target price for the stock from $100.00 to $90.00 in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $95.30.

NYSE:RS opened at $81.20 on Wednesday. The firm has a market cap of $5.69 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 0.93 and a beta of 1.15. Reliance Steel & Aluminum Co has a 1-year low of $72.69 and a 1-year high of $97.41. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39.

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 for the quarter, missing the consensus estimate of $2.69 by ($0.27). The business had revenue of $2.97 billion for 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 9.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.46%. The ex-dividend date is Thursday, November 15th. Reliance Steel & Aluminum’s payout ratio is 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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