The price of Reliance Steel & Aluminum Co. (NYSE:RS) shares last traded on Wall Street rose 1.95% to $209.71.
As we calculate the median target price by taking the range between a high of $235.00 and a low of $216.00, we find $227.50. Given the previous closing price of $205.69, this indicates a potential upside of 10.6 percent. RS stock price is now 2.36% away from the 50-day moving average and 10.26% away from the 200-day moving average. The market capitalization of the company currently stands at $12.24B.
Brokers who have rated the stock have averaged $226.00 as their price target over the next twelve months.
On October 06, 2022, Goldman Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $218 to quote $201, while ‘BMO Capital Markets’ rates the stock as ‘Outperform’.
In other news, HOFFMAN JAMES DONALD, Director sold 10,000 shares of the company’s stock on Jan 06. The stock was sold for $2,114,526 at an average price of $211.45. Upon completion of the transaction, the Director now directly owns 19,680 shares in the company, valued at $4.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 02, Exec. VP, COO Koch Stephen Paul sold 6,569 shares of the business’s stock. A total of $1,403,894 was realized by selling the stock at an average price of $213.71. This leaves the insider owning 5,486 shares of the company worth $1.15 million. Insiders disposed of 295,577 shares of company stock worth roughly $61.99 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RS stock. A new stake in Reliance Steel & Aluminum Co. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $140,276,000. AMALGAMATED FINANCIAL CORP. invested $9,119,000 in shares of RS during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in Reliance Steel & Aluminum Co. valued at approximately $8,196,000. COOPER CREEK PARTNERS MANAGEMENT LLC acquired a new stake in RS for approximately $7,648,000. SQUAREPOINT OPS LLC purchased a new stake in RS valued at around $4,119,000 in the second quarter. In total, there are 620 active investors with 84.20% ownership of the company’s stock.
A candlestick chart of Reliance Steel & Aluminum Co. (NYSE: RS) showed a price of $206.85 on Tuesday morning. During the past 12 months, Reliance Steel & Aluminum Co. has had a low of $145.79 and a high of $216.76. As of last week, the company has a debt-to-equity ratio of 0.24, a current ratio of 3.30, and a quick ratio of 1.80. The fifty day moving average price for RS is $205.07 and a two-hundred day moving average price translates $190.27 for the stock.
The latest earnings results from Reliance Steel & Aluminum Co. (NYSE: RS) was released for Sep, 2022. According to the Steel Company, earnings per share came in at $6.48, beating analysts’ expectations of $6.19 by 0.29. This compares to $6.16 EPS in the same period last year. The net profit margin was 11.00% and return on equity was 29.00% for RS. The company reported revenue of $4.25 billion for the quarter, compared to $3.85 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.39 percent. For the current quarter, analysts expect RS to generate $3.49B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/02/2022. Investors who held shares on 11/18/2022 were paid a $0.875 dividend. On an annualized basis, this represents a $3.50 dividend and a 1.67% percent yield. There was an ex-dividend date of 11/17/2022 for this dividend. In terms of dividend payout ratio, RS is presently at 10.70%.
Reliance Steel & Aluminum Co.(RS) Company Profile
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. It also distributes non-ferrous metals products and tubular building products; and manufactures specialty extruded metals, fabricated parts, and welded components. As of December 31, 2021, the company operated a network of approximately 315 locations in 40 states in the United States and 13 in other countries. It sells its products directly to original equipment manufacturers, which primarily include small machine shops and fabricators. The company was founded in 1939 and is headquartered in Los Angeles, California.