Oregon Public Employees Retirement Fund Trims Stock Position in Reliance Steel & Aluminum Co (NYSE:RS)

Oregon Public Employees Retirement Fund cut its holdings in Reliance Steel & Aluminum Co (NYSE:RS) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,272 shares of the industrial products company’s stock after selling 2,535 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Reliance Steel & Aluminum were worth $3,027,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC raised its holdings in Reliance Steel & Aluminum by 249.2% in the first quarter. FMR LLC now owns 227,173 shares of the industrial products company’s stock worth $20,504,000 after purchasing an additional 162,118 shares in the last quarter. Morgan Stanley raised its holdings in Reliance Steel & Aluminum by 69.6% in the second quarter. Morgan Stanley now owns 65,246 shares of the industrial products company’s stock worth $6,175,000 after purchasing an additional 26,770 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Reliance Steel & Aluminum by 56.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 905 shares of the industrial products company’s stock worth $86,000 after purchasing an additional 327 shares in the last quarter. Cerebellum GP LLC bought a new position in Reliance Steel & Aluminum in the third quarter worth about $106,000. Finally, Meeder Asset Management Inc. raised its holdings in Reliance Steel & Aluminum by 1.3% in the third quarter. Meeder Asset Management Inc. now owns 16,986 shares of the industrial products company’s stock worth $1,692,000 after purchasing an additional 210 shares in the last quarter. Institutional investors own 83.22% of the company’s stock.

A number of equities analysts have commented on RS shares. Exane BNP Paribas started coverage on shares of Reliance Steel & Aluminum in a report on Thursday, November 14th. They issued a “neutral” rating and a $117.00 target price for the company. Zacks Investment Research lowered Reliance Steel & Aluminum from a “hold” rating to a “sell” rating and set a $128.00 price target on the stock. in a research note on Wednesday, January 15th. Bank of America set a $115.00 price target on Reliance Steel & Aluminum and gave the stock a “hold” rating in a research note on Friday, October 25th. BNP Paribas assumed coverage on Reliance Steel & Aluminum in a research note on Thursday, November 14th. They set a “hold” rating and a $117.00 price target on the stock. Finally, ValuEngine lowered Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Reliance Steel & Aluminum currently has a consensus rating of “Hold” and a consensus price target of $109.80.

In related news, CFO Karla R. Lewis sold 7,800 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $116.28, for a total value of $906,984.00. Following the sale, the chief financial officer now owns 86,476 shares in the company, valued at $10,055,429.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Donald Hoffman sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $120.22, for a total value of $360,660.00. Insiders have sold 22,160 shares of company stock worth $2,589,192 in the last 90 days. Insiders own 3.43% of the company’s stock.

Shares of RS stock opened at $116.05 on Friday. Reliance Steel & Aluminum Co has a fifty-two week low of $82.62 and a fifty-two week high of $122.17. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.49 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.90 and a current ratio of 4.01. The stock’s 50-day simple moving average is $118.14 and its 200-day simple moving average is $109.89.

Reliance Steel & Aluminum Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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Institutional Ownership by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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