Reliance Steel & Aluminum Co (NYSE:RS) – Investment analysts at KeyCorp issued their FY2021 earnings estimates for shares of Reliance Steel & Aluminum in a research note issued to investors on Monday, March 23rd. KeyCorp analyst P. Gibbs anticipates that the industrial products company will post earnings per share of $6.60 for the year. KeyCorp currently has a “Overweight” rating and a $88.00 target price on the stock.
RS has been the topic of a number of other research reports. Cowen downgraded Reliance Steel & Aluminum from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $123.00 to $122.00 in a research report on Tuesday, January 21st. They noted that the move was a valuation call. ValuEngine raised Reliance Steel & Aluminum from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Zacks Investment Research downgraded Reliance Steel & Aluminum from a “hold” rating to a “sell” rating and set a $128.00 target price on the stock. in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $107.70.
NYSE:RS opened at $91.56 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.02 and a current ratio of 4.46. The stock’s 50-day simple moving average is $101.18 and its 200 day simple moving average is $109.86. The company has a market cap of $5.54 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.16 and a beta of 1.28. Reliance Steel & Aluminum has a 52-week low of $70.57 and a 52-week high of $122.17.
Reliance Steel & Aluminum (NYSE:RS) last released its earnings results on Thursday, February 20th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.71. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.49 billion. Reliance Steel & Aluminum had a return on equity of 13.98% and a net margin of 6.39%. Reliance Steel & Aluminum’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, March 12th. This is an increase from Reliance Steel & Aluminum’s previous quarterly dividend of $0.55. Reliance Steel & Aluminum’s payout ratio is 24.18%.
In other Reliance Steel & Aluminum news, CFO Karla R. Lewis sold 18,954 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $107.26, for a total transaction of $2,033,006.04. Following the transaction, the chief financial officer now owns 105,430 shares of the company’s stock, valued at $11,308,421.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.43% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Group One Trading L.P. acquired a new position in Reliance Steel & Aluminum during the fourth quarter worth approximately $33,000. Chevy Chase Trust Holdings Inc. acquired a new position in Reliance Steel & Aluminum during the fourth quarter worth approximately $48,000. TCI Wealth Advisors Inc. increased its position in Reliance Steel & Aluminum by 705.3% during the fourth quarter. TCI Wealth Advisors Inc. now owns 459 shares of the industrial products company’s stock worth $55,000 after buying an additional 402 shares during the last quarter. Citizens Financial Group Inc RI acquired a new position in Reliance Steel & Aluminum during the fourth quarter worth approximately $57,000. Finally, FNY Investment Advisers LLC acquired a new position in Reliance Steel & Aluminum during the fourth quarter worth approximately $59,000. 83.76% of the stock is currently owned by hedge funds and other institutional investors.
About Reliance Steel & Aluminum
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.
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