Grantham Mayo Van Otterloo & Co. LLC Has $16.62 Million Position in Reliance Steel & Aluminum Co. (NYSE:RS)

Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Reliance Steel & Aluminum Co. (NYSE:RSGet Rating) by 115.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,850 shares of the industrial products company’s stock after buying an additional 52,500 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.16% of Reliance Steel & Aluminum worth $16,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RS. TD Asset Management Inc. boosted its position in Reliance Steel & Aluminum by 10.3% during the first quarter. TD Asset Management Inc. now owns 158,228 shares of the industrial products company’s stock valued at $29,011,000 after purchasing an additional 14,820 shares during the last quarter. Bank of Nova Scotia acquired a new stake in shares of Reliance Steel & Aluminum in the first quarter valued at approximately $2,207,000. State of New Jersey Common Pension Fund D lifted its position in shares of Reliance Steel & Aluminum by 3.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 33,203 shares of the industrial products company’s stock valued at $6,088,000 after buying an additional 1,167 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Reliance Steel & Aluminum by 22.6% in the first quarter. Profund Advisors LLC now owns 5,297 shares of the industrial products company’s stock valued at $971,000 after buying an additional 978 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Reliance Steel & Aluminum by 14.0% in the second quarter. Handelsbanken Fonder AB now owns 9,781 shares of the industrial products company’s stock valued at $1,661,000 after buying an additional 1,200 shares during the last quarter. 83.16% of the stock is owned by institutional investors and hedge funds.

Reliance Steel & Aluminum Price Performance

Reliance Steel & Aluminum stock opened at $211.58 on Thursday. The stock’s fifty day moving average price is $189.98 and its two-hundred day moving average price is $186.52. Reliance Steel & Aluminum Co. has a one year low of $145.79 and a one year high of $215.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.25 and a quick ratio of 1.78. The firm has a market cap of $12.42 billion, a PE ratio of 6.92 and a beta of 0.87.

Reliance Steel & Aluminum (NYSE:RSGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The industrial products company reported $6.48 EPS for the quarter, topping analysts’ consensus estimates of $6.19 by $0.29. Reliance Steel & Aluminum had a return on equity of 29.31% and a net margin of 10.98%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the company earned $6.15 EPS. The company’s revenue was up 10.4% on a year-over-year basis. As a group, research analysts expect that Reliance Steel & Aluminum Co. will post 28.71 EPS for the current fiscal year.

Reliance Steel & Aluminum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, November 17th. Reliance Steel & Aluminum’s dividend payout ratio is presently 11.45%.

Insider Buying and Selling at Reliance Steel & Aluminum

In other Reliance Steel & Aluminum news, CEO James Donald Hoffman sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $183.31, for a total value of $1,833,100.00. Following the sale, the chief executive officer now owns 132,738 shares of the company’s stock, valued at approximately $24,332,202.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RS. BMO Capital Markets began coverage on Reliance Steel & Aluminum in a research report on Monday, August 15th. They issued an “outperform” rating and a $230.00 price objective for the company. KeyCorp increased their target price on Reliance Steel & Aluminum from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com lowered Reliance Steel & Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 6th. Finally, The Goldman Sachs Group lowered Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $218.00 to $201.00 in a research note on Thursday, October 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.40.

Reliance Steel & Aluminum Company Profile

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Reliance Steel & Aluminum Co engages in the provision of metals processing services and distribution of metal products. It offers alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. The company was founded by Thomas J. Neilan on February 3, 1939, and is headquartered in Scottsdale, AZ.

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

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