Reliance Steel & Aluminum Co. (NYSE:RS) CEO David Hannah dumped 54,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $69.79, for a total value of $3,768,660.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
RS has been the subject of a number of recent research reports. Analysts at Credit Suisse initiated coverage on shares of Reliance Steel & Aluminum Co. in a research note to investors on Monday, July 8th. They set an “outperform” rating and a $82.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Reliance Steel & Aluminum Co. from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, July 2nd. They now have a $60.00 price target on the stock. Finally, analysts at Topeka Capital Markets initiated coverage on shares of Reliance Steel & Aluminum Co. in a research note to investors on Wednesday, June 12th. They set a “hold” rating and a $70.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $72.67.
Reliance Steel & Aluminum Co. (NYSE:RS) traded down 2.08% on Wednesday, hitting $68.33. Reliance Steel & Aluminum Co. has a 1-year low of $49.72 and a 1-year high of $72.90. The stock’s 50-day moving average is currently $67.57. The company has a market cap of $5.256 billion and a price-to-earnings ratio of 15.58.
Reliance Steel & Aluminum Co. (NYSE:RS) last announced its earnings results on Thursday, July 25th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by $0.05. The company had revenue of $2.45 million for the quarter, compared to the consensus estimate of $2.48 million. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that Reliance Steel & Aluminum Co. will post $4.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 13th. Shareholders of record on Friday, August 16th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, August 14th. This is a positive change from Reliance Steel & Aluminum Co.’s previous quarterly dividend of $0.30.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
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