Reliance Steel & Aluminum (RS) Set to Announce Quarterly Earnings on Thursday

Reliance Steel & Aluminum (NYSE:RSGet Free Report) is set to announce its earnings results before the market opens on Thursday, February 15th. Analysts expect the company to announce earnings of $3.86 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Reliance Steel & Aluminum Stock Performance

Shares of RS opened at $298.47 on Tuesday. The firm’s 50 day moving average is $280.50 and its 200-day moving average is $272.96. The stock has a market capitalization of $17.15 billion, a P/E ratio of 12.55 and a beta of 0.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.53 and a quick ratio of 3.13. Reliance Steel & Aluminum has a 12-month low of $225.14 and a 12-month high of $302.89.

Insider Transactions at Reliance Steel & Aluminum

In related news, CEO Karla R. Lewis sold 5,374 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $278.87, for a total transaction of $1,498,647.38. Following the completion of the sale, the chief executive officer now directly owns 83,884 shares in the company, valued at $23,392,731.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Reliance Steel & Aluminum news, VP Michael R. Hynes sold 1,057 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $278.86, for a total value of $294,755.02. Following the completion of the sale, the vice president now directly owns 5,956 shares in the company, valued at $1,660,890.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Karla R. Lewis sold 5,374 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $278.87, for a total transaction of $1,498,647.38. Following the completion of the sale, the chief executive officer now owns 83,884 shares of the company’s stock, valued at $23,392,731.08. The disclosure for this sale can be found here. Insiders have sold a total of 26,614 shares of company stock valued at $7,357,934 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Reliance Steel & Aluminum

A number of institutional investors have recently modified their holdings of RS. Raymond James Financial Services Advisors Inc. raised its position in shares of Reliance Steel & Aluminum by 212.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,876 shares of the industrial products company’s stock valued at $1,261,000 after purchasing an additional 4,672 shares during the period. American Century Companies Inc. raised its position in shares of Reliance Steel & Aluminum by 0.8% in the first quarter. American Century Companies Inc. now owns 11,264 shares of the industrial products company’s stock valued at $2,065,000 after purchasing an additional 88 shares during the period. APG Asset Management N.V. bought a new position in shares of Reliance Steel & Aluminum in the first quarter valued at approximately $1,533,000. Great West Life Assurance Co. Can raised its position in shares of Reliance Steel & Aluminum by 8.2% in the first quarter. Great West Life Assurance Co. Can now owns 40,567 shares of the industrial products company’s stock valued at $7,679,000 after purchasing an additional 3,058 shares during the period. Finally, Sei Investments Co. raised its position in shares of Reliance Steel & Aluminum by 14.6% in the first quarter. Sei Investments Co. now owns 35,984 shares of the industrial products company’s stock valued at $6,602,000 after purchasing an additional 4,573 shares during the period. Institutional investors own 80.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RS shares. StockNews.com raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Thursday, November 23rd. KeyCorp dropped their target price on shares of Reliance Steel & Aluminum from $290.00 to $285.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Reliance Steel & Aluminum presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.00.

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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.

See Also

Earnings History for Reliance Steel & Aluminum (NYSE:RS)

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