Reliance Steel & Aluminum (RS) – Research Analysts’ Weekly Ratings Changes - Defense World

2022-04-26 02:47:12 By : Ms. Carol Chen

Posted by admin on Apr 25th, 2022

Reliance Steel & Aluminum (NYSE: RS) recently received a number of ratings updates from brokerages and research firms:

RS opened at $192.64 on Monday. The stock has a market cap of $12.07 billion, a price-to-earnings ratio of 8.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.97 and a current ratio of 3.91. The firm’s fifty day moving average is $186.24 and its 200 day moving average is $167.39. Reliance Steel & Aluminum Co. has a fifty-two week low of $135.46 and a fifty-two week high of $204.93.

Reliance Steel & Aluminum (NYSE:RS – Get Rating) last issued its earnings results on Thursday, February 17th. The industrial products company reported $6.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $1.66. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.83 billion. Reliance Steel & Aluminum had a return on equity of 24.80% and a net margin of 10.03%. The firm’s quarterly revenue was up 86.9% on a year-over-year basis. During the same quarter last year, the company earned $2.01 EPS. On average, equities research analysts predict that Reliance Steel & Aluminum Co. will post 24.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were issued a $0.875 dividend. The ex-dividend date of this dividend was Thursday, March 10th. This is a positive change from Reliance Steel & Aluminum’s previous quarterly dividend of $0.69. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.82%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is 15.92%.

In related news, CFO Arthur Ajemyan sold 4,540 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $175.72, for a total value of $797,768.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Donald Hoffman sold 10,000 shares of the stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $178.59, for a total transaction of $1,785,900.00. Following the completion of the sale, the chief executive officer now directly owns 152,738 shares in the company, valued at approximately $27,277,479.42. The disclosure for this sale can be found here. Insiders sold 125,634 shares of company stock worth $22,319,957 in the last 90 days. 3.43% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Yacktman Asset Management LP bought a new stake in shares of Reliance Steel & Aluminum in the fourth quarter valued at about $170,899,000. Norges Bank bought a new stake in Reliance Steel & Aluminum during the 4th quarter valued at $101,834,000. Victory Capital Management Inc. increased its holdings in shares of Reliance Steel & Aluminum by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 2,196,588 shares of the industrial products company’s stock valued at $356,330,000 after acquiring an additional 364,582 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Reliance Steel & Aluminum in the 4th quarter worth $41,397,000. Finally, Wellington Management Group LLP lifted its stake in shares of Reliance Steel & Aluminum by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,155,113 shares of the industrial products company’s stock worth $306,931,000 after purchasing an additional 245,179 shares during the last quarter. 83.59% of the stock is currently owned by institutional investors.

Reliance Steel & Aluminum Co operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.

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