Russell Investments Group Ltd. Has $39.05 Million Holdings in Reliance Steel & Aluminum Co. (NYSE:RS)

Russell Investments Group Ltd. cut its position in Reliance Steel & Aluminum Co. (NYSE:RS – Get Rating) by 11.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,929 shares of the industrial products company’s stock after selling 30,017 shares during the period. Russell Investments Group Ltd. owned 0.37% of Reliance Steel & Aluminum worth $39,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RS. Worth Asset Management LLC acquired a new position in shares of Reliance Steel & Aluminum during the first quarter worth approximately $28,000. Tobam acquired a new position in shares of Reliance Steel & Aluminum during the third quarter worth approximately $33,000. Ronald Blue Trust Inc. lifted its position in shares of Reliance Steel & Aluminum by 400.0% during the third quarter. Ronald Blue Trust Inc. now owns 245 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 196 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Reliance Steel & Aluminum during the first quarter worth approximately $46,000. Finally, Pinebridge Investments L.P. lifted its position in shares of Reliance Steel & Aluminum by 206.0% during the second quarter. Pinebridge Investments L.P. now owns 306 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 206 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Reliance Steel & Aluminum

In other news, President Karla R. Lewis sold 9,178 shares of the stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $213.69, for a total transaction of $1,961,246.82. Following the completion of the sale, the president now owns 77,832 shares of the company’s stock, valued at $16,631,920.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Karla R. Lewis sold 9,178 shares of the stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $213.69, for a total transaction of $1,961,246.82. Following the completion of the sale, the president now owns 77,832 shares of the company’s stock, valued at $16,631,920.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Donald Hoffman sold 10,000 shares of the stock in a transaction on Friday, January 6th. The stock was sold at an average price of $211.45, for a total transaction of $2,114,500.00. Following the sale, the director now directly owns 19,680 shares of the company’s stock, valued at approximately $4,161,336. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,747 shares of company stock valued at $5,479,608. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RS shares. Bank of America initiated coverage on shares of Reliance Steel & Aluminum in a research report on Wednesday, January 4th. They set a “neutral” rating on the stock. The Goldman Sachs Group downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $218.00 to $201.00 in a research note on Thursday, October 6th. KeyCorp boosted their price target on shares of Reliance Steel & Aluminum from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 22nd. Finally, StockNews.com downgraded shares of Reliance Steel & Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 6th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.40.

Reliance Steel & Aluminum Stock Down 0.2 %

Shares of NYSE:RS opened at $215.79 on Wednesday. Reliance Steel & Aluminum Co. has a 52 week low of $145.79 and a 52 week high of $218.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.78 and a current ratio of 3.25. The company has a market capitalization of $12.66 billion, a PE ratio of 7.06 and a beta of 0.87. The company has a 50 day moving average price of $207.80 and a two-hundred day moving average price of $194.53.

Reliance Steel & Aluminum (NYSE:RS – Get Rating) last issued its earnings results on Thursday, October 27th. The industrial products company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.20 by $0.28. Reliance Steel & Aluminum had a net margin of 10.98% and a return on equity of 29.31%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the firm earned $6.15 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts forecast that Reliance Steel & Aluminum Co. will post 28.65 earnings per share for the current year.

Reliance Steel & Aluminum Profile

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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.