Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 16,562 Shares of Reliance Steel & Aluminum Co. (NYSE:RS)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RSFree Report) by 58.3% during the third quarter, Holdings Channel reports. The institutional investor owned 11,858 shares of the industrial products company’s stock after selling 16,562 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Reliance Steel & Aluminum were worth $3,110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RS. Worth Asset Management LLC bought a new position in shares of Reliance Steel & Aluminum during the first quarter valued at about $28,000. Millburn Ridgefield Corp bought a new position in shares of Reliance Steel & Aluminum during the third quarter valued at about $33,000. Penserra Capital Management LLC bought a new position in shares of Reliance Steel & Aluminum during the first quarter valued at about $46,000. Advisory Services Network LLC grew its stake in shares of Reliance Steel & Aluminum by 160.0% during the first quarter. Advisory Services Network LLC now owns 221 shares of the industrial products company’s stock valued at $57,000 after buying an additional 136 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Reliance Steel & Aluminum by 26.4% during the third quarter. UMB Bank n.a. now owns 230 shares of the industrial products company’s stock valued at $60,000 after buying an additional 48 shares during the last quarter. 80.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Reliance Steel & Aluminum

In other Reliance Steel & Aluminum news, Director James Donald Hoffman sold 10,183 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $278.86, for a total transaction of $2,839,631.38. Following the sale, the director now directly owns 9,497 shares of the company’s stock, valued at approximately $2,648,333.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Karla R. Lewis sold 5,374 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $278.87, for a total transaction of $1,498,647.38. Following the completion of the transaction, the chief executive officer now directly owns 83,884 shares in the company, valued at $23,392,731.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Donald Hoffman sold 10,183 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $278.86, for a total transaction of $2,839,631.38. Following the transaction, the director now owns 9,497 shares of the company’s stock, valued at $2,648,333.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,614 shares of company stock valued at $7,357,934. 0.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RS has been the topic of several recent analyst reports. KeyCorp cut their target price on Reliance Steel & Aluminum from $290.00 to $285.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. StockNews.com raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research note on Thursday, November 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.00.

Read Our Latest Analysis on RS

Reliance Steel & Aluminum Stock Performance

Reliance Steel & Aluminum stock opened at $298.47 on Tuesday. The stock’s 50 day simple moving average is $280.50 and its two-hundred day simple moving average is $272.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.13 and a current ratio of 5.53. The stock has a market cap of $17.15 billion, a price-to-earnings ratio of 12.55 and a beta of 0.86. Reliance Steel & Aluminum Co. has a fifty-two week low of $225.14 and a fifty-two week high of $302.89.

Reliance Steel & Aluminum Company Profile

(Free Report)

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

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