Wright Investors Service Inc. increased its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS – Get Rating) by 8.2% during the second quarter, HoldingsChannel.com reports. The fund owned 3,430 shares of the industrial products company's stock after purchasing an additional 260 shares during the period. Wright Investors Service Inc.'s holdings in Reliance Steel & Aluminum were worth $582,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Worth Asset Management LLC acquired a new position in shares of Reliance Steel & Aluminum during the 1st quarter valued at about $28,000. Denali Advisors LLC increased its holdings in shares of Reliance Steel & Aluminum by 100.0% during the 1st quarter. Denali Advisors LLC now owns 200 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 100 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Reliance Steel & Aluminum during the 1st quarter valued at about $46,000. Rational Advisors LLC grew its holdings in Reliance Steel & Aluminum by 50.6% in the 1st quarter. Rational Advisors LLC now owns 256 shares of the industrial products company's stock valued at $47,000 after buying an additional 86 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in Reliance Steel & Aluminum by 704.3% in the 1st quarter. Rosenberg Matthew Hamilton now owns 378 shares of the industrial products company's stock valued at $69,000 after buying an additional 331 shares during the last quarter. Institutional investors and hedge funds own 83.16% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on RS shares. StockNews.com lowered Reliance Steel & Aluminum from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 6th. KeyCorp lowered their target price on Reliance Steel & Aluminum from $215.00 to $207.00 and set an "overweight" rating on the stock in a report on Tuesday, July 19th. BMO Capital Markets started coverage on Reliance Steel & Aluminum in a report on Monday, August 15th. They issued an "outperform" rating and a $230.00 target price on the stock. Finally, The Goldman Sachs Group lowered Reliance Steel & Aluminum from a "buy" rating to a "neutral" rating and lowered their target price for the company from $218.00 to $201.00 in a report on Thursday, October 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $218.80.

Insider Buying and Selling

Reliance Steel & Aluminum Price Performance

Shares of NYSE:RS opened at $180.68 on Thursday. Reliance Steel & Aluminum Co. has a 1-year low of $142.74 and a 1-year high of $211.65. The firm has a market capitalization of $10.89 billion, a PE ratio of 5.97 and a beta of 0.83. The business's 50 day moving average is $185.20 and its 200-day moving average is $185.06. The company has a current ratio of 3.02, a quick ratio of 1.60 and a debt-to-equity ratio of 0.17.

Reliance Steel & Aluminum (NYSE:RS – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The industrial products company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $9.06 by $0.09. Reliance Steel & Aluminum had a return on equity of 30.46% and a net margin of 11.25%. The company had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same quarter last year, the firm earned $5.06 EPS. Reliance Steel & Aluminum's revenue for the quarter was up 36.9% compared to the same quarter last year. Sell-side analysts predict that Reliance Steel & Aluminum Co. will post 28.28 earnings per share for the current year.

Reliance Steel & Aluminum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were given a dividend of $0.875 per share. The ex-dividend date was Thursday, August 18th. This represents a $3.50 annualized dividend and a dividend yield of 1.94%. Reliance Steel & Aluminum's dividend payout ratio (DPR) is presently 11.56%.

About Reliance Steel & Aluminum

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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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