Campbell & CO Investment Adviser LLC Purchases 2,200 Shares of Reliance Steel & Aluminum Co. (NYSE:RS)

Campbell & CO Investment Adviser LLC boosted its position in Reliance Steel & Aluminum Co. (NYSE:RS) by 51.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,457 shares of the industrial products company’s stock after acquiring an additional 2,200 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Reliance Steel & Aluminum were worth $974,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Reliance Steel & Aluminum by 14.3% during the first quarter. BlackRock Inc. now owns 6,494,396 shares of the industrial products company’s stock worth $989,033,000 after buying an additional 811,035 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Reliance Steel & Aluminum by 85.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,237,124 shares of the industrial products company’s stock worth $186,683,000 after buying an additional 570,732 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Reliance Steel & Aluminum by 25.0% during the first quarter. Nuveen Asset Management LLC now owns 861,264 shares of the industrial products company’s stock worth $131,162,000 after buying an additional 172,155 shares during the last quarter. FMR LLC raised its position in shares of Reliance Steel & Aluminum by 249.2% during the first quarter. FMR LLC now owns 227,173 shares of the industrial products company’s stock worth $20,504,000 after purchasing an additional 162,118 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Reliance Steel & Aluminum by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,196,147 shares of the industrial products company’s stock worth $182,161,000 after purchasing an additional 132,585 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Shares of NYSE:RS traded up $4.77 during trading on Wednesday, hitting $144.94. 16,576 shares of the company were exchanged, compared to its average volume of 372,664. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 11.02 and a beta of 1.04. Reliance Steel & Aluminum Co. has a fifty-two week low of $99.98 and a fifty-two week high of $181.21. The firm has a fifty day moving average price of $151.05 and a two-hundred day moving average price of $155.98. The company has a current ratio of 4.36, a quick ratio of 2.54 and a debt-to-equity ratio of 0.29.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 21st. The industrial products company reported $5.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.89 by $0.17. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.19 billion. Reliance Steel & Aluminum had a return on equity of 15.96% and a net margin of 7.86%. The business’s quarterly revenue was up 69.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 EPS. As a group, research analysts predict that Reliance Steel & Aluminum Co. will post 18.01 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Friday, August 13th were given a dividend of $0.688 per share. This is a positive change from Reliance Steel & Aluminum’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $2.75 annualized dividend and a dividend yield of 1.90%. Reliance Steel & Aluminum’s payout ratio is 35.67%.

In other news, CEO James Donald Hoffman sold 5,000 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $151.57, for a total transaction of $757,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.43% of the stock is owned by insiders.

RS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Reliance Steel & Aluminum in a research report on Wednesday, June 16th. They set an “overweight” rating and a $181.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Reliance Steel & Aluminum to a “hold” rating and raised their price target for the stock from $165.00 to $175.00 in a research report on Wednesday, September 15th. They noted that the move was a valuation call. Seaport Global Securities started coverage on Reliance Steel & Aluminum in a research report on Monday, August 23rd. They set a “buy” rating and a $165.00 price target on the stock. Seaport Res Ptn reissued a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Monday, August 23rd. Finally, Citigroup raised Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating and lifted their target price for the company from $160.00 to $200.00 in a research report on Monday, July 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $162.38.

About Reliance Steel & Aluminum

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 Los Angeles, CA.

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

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