What’s in Reliance Steel & Aluminum Co. (RS) After Achieving 52-Week High?

May 21, 2018 - By Marguerite Chambers

Reliance Steel & Aluminum Co. (NYSE:RS) Logo

Investors sentiment increased to 1.07 in 2017 Q4. Its up 0.11, from 0.96 in 2017Q3. It is positive, as 30 investors sold Reliance Steel & Aluminum Co. shares while 100 reduced holdings. 42 funds opened positions while 97 raised stakes. 58.59 million shares or 0.81% less from 59.07 million shares in 2017Q3 were reported.
Blackrock holds 0.03% or 6.67 million shares in its portfolio. Lombard Odier Asset Mngmt (Usa) holds 0.04% or 6,329 shares. Schwab Charles Inv holds 0.02% in Reliance Steel & Aluminum Co. (NYSE:RS) or 292,731 shares. Wellington Group Ltd Liability Partnership has 2.56 million shares for 0.05% of their portfolio. Coldstream Cap Management invested in 0.09% or 9,236 shares. Price T Rowe Assocs Inc Md invested in 0.01% or 673,955 shares. Argent Cap Mgmt Limited Liability Co stated it has 6,517 shares. Pub Employees Retirement Sys Of Ohio owns 168,682 shares for 0.07% of their portfolio. Vanguard Grp Incorporated owns 6.23 million shares for 0.02% of their portfolio. Loomis Sayles Lp has 147,259 shares. Dreman Value L L C invested in 4,664 shares or 0.23% of the stock. Arizona State Retirement Systems reported 52,483 shares. Service Automobile Association stated it has 96,604 shares. American Century Cos Incorporated owns 31,032 shares. California Public Employees Retirement Systems holds 0.02% or 203,048 shares in its portfolio.

Since December 8, 2017, it had 0 buys, and 7 sales for $5.52 million activity. $853,061 worth of stock was sold by MOLLINS GREGG J on Tuesday, February 20. 1,123 Reliance Steel & Aluminum Co. (NYSE:RS) shares with value of $92,861 were sold by Smith William A II. GIMBEL THOMAS W sold $553,860 worth of stock or 6,000 shares. Shares for $185,400 were sold by Sharkey Andrew G III. 5,000 Reliance Steel & Aluminum Co. (NYSE:RS) shares with value of $461,500 were sold by HOFFMAN JAMES DONALD.

The stock of Reliance Steel & Aluminum Co. (NYSE:RS) hit a new 52-week high and has $96.96 target or 3.00 % above today’s $94.14 share price. The 9 months bullish chart indicates low risk for the $6.81B company. The 1-year high was reported on May, 21 by Barchart.com. If the $96.96 price target is reached, the company will be worth $204.30M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 2.09% or $2.01 during the last trading session, reaching $94.14. About 55,180 shares traded. Reliance Steel & Aluminum Co. (NYSE:RS) has risen 8.18% since May 21, 2017 and is uptrending. It has underperformed by 3.37% the S&P500.

Analysts await Reliance Steel & Aluminum Co. (NYSE:RS) to report earnings on July, 26. They expect $2.67 EPS, up 90.71 % or $1.27 from last year’s $1.4 per share. RS’s profit will be $193.15M for 8.81 P/E if the $2.67 EPS becomes a reality. After $2.30 actual EPS reported by Reliance Steel & Aluminum Co. for the previous quarter, Wall Street now forecasts 16.09 % EPS growth.

Reliance Steel & Aluminum Co. (NYSE:RS) Ratings Coverage

Among 7 analysts covering Reliance Steel (NYSE:RS), 5 have Buy rating, 0 Sell and 2 Hold. Therefore 71% are positive. Reliance Steel has $107.0 highest and $84.0 lowest target. $98.67’s average target is 4.81% above currents $94.14 stock price. Reliance Steel had 10 analyst reports since December 5, 2017 according to SRatingsIntel. Longbow upgraded the stock to “Buy” rating in Wednesday, February 7 report. KeyBanc Capital Markets maintained the shares of RS in report on Tuesday, December 5 with “Buy” rating. Jefferies maintained Reliance Steel & Aluminum Co. (NYSE:RS) on Tuesday, January 9 with “Hold” rating. Bank of America maintained Reliance Steel & Aluminum Co. (NYSE:RS) on Monday, January 8 with “Buy” rating. Deutsche Bank maintained Reliance Steel & Aluminum Co. (NYSE:RS) rating on Thursday, March 29. Deutsche Bank has “Buy” rating and $98 target. The stock has “Buy” rating by Cowen & Co on Thursday, January 4. As per Wednesday, January 10, the company rating was maintained by KeyBanc Capital Markets. Cowen & Co maintained Reliance Steel & Aluminum Co. (NYSE:RS) on Friday, February 16 with “Buy” rating. The firm has “Buy” rating by KeyBanc Capital Markets given on Thursday, February 15.

More news for Reliance Steel & Aluminum Co. (NYSE:RS) were recently published by: Globenewswire.com, which released: “Report: Exploring Fundamental Drivers Behind Reliance Steel & Aluminum, Goldman Sachs BDC, IBERIABANK …” on May 04, 2018. Benzinga.com‘s article titled: “Earnings Scheduled For April 26, 2018” and published on April 26, 2018 is yet another important article.

Reliance Steel & Aluminum Co. operates as a metals service center company. The company has market cap of $6.81 billion. The firm provides metals processing services and distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products. It has a 11.29 P/E ratio. The Company’s primary processing services comprise cutting, leveling, sawing, machining, and electro polishing.

Reliance Steel & Aluminum Co. (NYSE:RS) Institutional Positions Chart

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