Reliance Steel & Aluminum Co (RS) : Profit Investment Management reduced its stake in Reliance Steel & Aluminum Co by 11.62% during the most recent quarter end. The investment management company now holds a total of 33,586 shares of Reliance Steel & Aluminum Co which is valued at $2,299,633 after selling 4,414 shares in Reliance Steel & Aluminum Co , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Reliance Steel & Aluminum Co makes up approximately 2.32% of Profit Investment Management’s portfolio.
Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in RS by selling 131 shares or 16.95% in the most recent quarter. The Hedge Fund company now holds 642 shares of RS which is valued at $43,958.Creative Planning boosted its stake in RS in the latest quarter, The investment management firm added 586 additional shares and now holds a total of 25,554 shares of Reliance Steel & Aluminum Co which is valued at $1,773,959. Reliance Steel & Aluminum Co makes up approx 0.01% of Creative Planning’s portfolio. Fox Run Management L.l.c. sold out all of its stake in RS during the most recent quarter. The investment firm sold 5,800 shares of RS which is valued $402,636.Oregon Public Employees Retirement Fund reduced its stake in RS by selling 10,817 shares or 30.28% in the most recent quarter. The Hedge Fund company now holds 24,906 shares of RS which is valued at $1,755,624. Reliance Steel & Aluminum Co makes up approx 0.04% of Oregon Public Employees Retirement Fund’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in RS by selling 15,049 shares or 28.99% in the most recent quarter. The Hedge Fund company now holds 36,867 shares of RS which is valued at $2,587,695. Reliance Steel & Aluminum Co makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.
Reliance Steel & Aluminum Co closed down -1.07 points or -1.52% at $69.42 with 4,12,937 shares getting traded on Tuesday. Post opening the session at $69.83, the shares hit an intraday low of $69.08 and an intraday high of $70.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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 .
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.