Acadian Asset Management LLC Increases Stock Position in Reliance Steel & Aluminum Co. (NYSE:RS)

Acadian Asset Management LLC lifted its stake in Reliance Steel & Aluminum Co. (NYSE:RS - Free Report) by 19.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,226,377 shares of the industrial products company's stock after buying an additional 202,853 shares during the quarter. Reliance Steel & Aluminum makes up about 1.4% of Acadian Asset Management LLC's investment portfolio, making the stock its 7th largest position. Acadian Asset Management LLC owned about 2.09% of Reliance Steel & Aluminum worth $314,818,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its stake in Reliance Steel & Aluminum by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,005 shares of the industrial products company's stock valued at $1,285,000 after purchasing an additional 41 shares in the last quarter. Signaturefd LLC lifted its position in shares of Reliance Steel & Aluminum by 3.8% in the 1st quarter. Signaturefd LLC now owns 1,162 shares of the industrial products company's stock worth $298,000 after purchasing an additional 42 shares during the period. Arizona State Retirement System boosted its stake in shares of Reliance Steel & Aluminum by 0.3% during the first quarter. Arizona State Retirement System now owns 17,063 shares of the industrial products company's stock valued at $4,381,000 after purchasing an additional 49 shares in the last quarter. Eagle Strategies LLC increased its holdings in Reliance Steel & Aluminum by 1.0% during the first quarter. Eagle Strategies LLC now owns 5,577 shares of the industrial products company's stock valued at $1,432,000 after buying an additional 57 shares during the period. Finally, Convergence Investment Partners LLC raised its stake in Reliance Steel & Aluminum by 7.8% in the first quarter. Convergence Investment Partners LLC now owns 786 shares of the industrial products company's stock worth $202,000 after buying an additional 57 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

In related news, Director James Donald Hoffman sold 10,000 shares of the business's stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $235.16, for a total value of $2,351,600.00. Following the completion of the transaction, the director now directly owns 124,042 shares in the company, valued at approximately $29,169,716.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Reliance Steel & Aluminum news, VP Jeffrey Wayne Durham sold 6,503 shares of the firm's stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $275.42, for a total value of $1,791,056.26. Following the sale, the vice president now directly owns 23,651 shares of the company's stock, valued at $6,513,958.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Donald Hoffman sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $235.16, for a total value of $2,351,600.00. Following the completion of the sale, the director now owns 124,042 shares of the company's stock, valued at $29,169,716.72. The disclosure for this sale can be found here. Insiders sold a total of 27,503 shares of company stock valued at $7,287,166 in the last quarter. 0.62% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on RS. Wolfe Research downgraded Reliance Steel & Aluminum from an "outperform" rating to a "peer perform" rating in a report on Friday, April 28th. StockNews.com upgraded Reliance Steel & Aluminum from a "hold" rating to a "buy" rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $270.00.

Check Out Our Latest Stock Analysis on RS

Shares of NYSE RS traded up $1.09 during mid-day trading on Friday, hitting $275.74. The stock had a trading volume of 156,496 shares, compared to its average volume of 412,783. The firm has a market cap of $16.15 billion, a PE ratio of 10.88 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.83 and a current ratio of 5.18. The company has a 50 day moving average of $277.46 and a two-hundred day moving average of $256.65. Reliance Steel & Aluminum Co. has a twelve month low of $168.24 and a twelve month high of $295.98.

Reliance Steel & Aluminum (NYSE:RS - Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $6.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.03). Reliance Steel & Aluminum had a return on equity of 20.88% and a net margin of 9.63%. The firm had revenue of $3.88 billion during the quarter, compared to analysts' expectations of $3.98 billion. During the same quarter in the previous year, the business earned $9.15 earnings per share. The company's revenue for the quarter was down 17.1% compared to the same quarter last year. Research analysts predict that Reliance Steel & Aluminum Co. will post 22.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $4.00 annualized dividend and a dividend yield of 1.45%. Reliance Steel & Aluminum's dividend payout ratio (DPR) is presently 15.84%.

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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