Reliance Steel & Aluminum Co (RS) : Peregrine Asset Advisers added new position in Reliance Steel & Aluminum Co during the most recent quarter end. The investment management firm now holds 50,215 shares of Reliance Steel & Aluminum Co which is valued at $3,685,781 , the company said in a statement filed on Aug 15, 2016 with the SEC.Reliance Steel & Aluminum Co makes up approximately 2.59% of Peregrine Asset Advisers’s portfolio.
Other Hedge Funds, Including , Adage Capital Partners Gp L.l.c. reduced its stake in RS by selling 975,137 shares or 51.11% in the most recent quarter. The Hedge Fund company now holds 932,936 shares of RS which is valued at $68,477,502. Reliance Steel & Aluminum Co makes up approx 0.18% of Adage Capital Partners Gp L.l.c.’s portfolio. Delphi Private Advisors added RS to its portfolio by purchasing 25 company shares during the most recent quarter which is valued at $1,835. Matarin Capital Management added RS to its portfolio by purchasing 20,659 company shares during the most recent quarter which is valued at $1,516,371. Reliance Steel & Aluminum Co makes up approx 0.19% of Matarin Capital Management’s portfolio. Credit Agricole S A added RS to its portfolio by purchasing 14,594 company shares during the most recent quarter which is valued at $1,071,200.Reilly Financial Advisors reduced its stake in RS by selling 400 shares or 4.32% in the most recent quarter. The Hedge Fund company now holds 8,850 shares of RS which is valued at $682,689. Reliance Steel & Aluminum Co makes up approx 0.12% of Reilly Financial Advisors’s portfolio.
Reliance Steel & Aluminum Co opened for trading at $72.28 and hit $72.82 on the upside on Thursday, eventually ending the session at $72.5, with a gain of 0.58% or 0.42 points. The heightened volatility saw the trading volume jump to 4,68,193 shares. Company has a market cap of $5,258 M.
On the company’s financial health, Reliance Steel & Aluminum Co reported $1.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $1.31. The company had revenue of $2204.00 million for the quarter, compared to analysts expectations of $2337.44 million. The company’s revenue was down -9.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.21 EPS.
Many Wall Street Analysts have commented on Reliance Steel & Aluminum Co. Reliance Steel & Aluminum Co was Upgraded by BofA/Merrill to ” Neutral” on Jul 28, 2016. Company shares were Reiterated by Cowen on Jul 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 86 from a previous price target of $78 .Company shares were Reiterated by Rosenblatt on Jul 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 76 from a previous price target of $69 .
Reliance Steel & Aluminum Co. is a metals service center company in North America. The Company provides a variety of processing services and delivers products to fabricators manufacturers and other end users. It has a network of more than 300 locations in 39 states in the United States and in 12 other countries including Australia Belgium Canada China France Malaysia Mexico Singapore South Korea Turkey the United Arab Emirates and the United Kingdom. It provides metals processing services and distributes a line of more than 100000 metal products including alloy aluminum brass copper carbon steel stainless steel titanium and specialty steel products. It also provides toll processing of aluminum carbon steel and stainless steel miscellaneous including brass copper and titanium and offers processing services which range from cutting leveling or sawing to complete processes such as machining or electropolishing.