Federated Hermes Inc. Has $4.14 Million Holdings in Reliance Steel & Aluminum Co. (NYSE:RS)

Federated Hermes Inc. reduced its holdings in Reliance Steel & Aluminum Co. (NYSE:RS – Free Report) by 0.4% during the 1st quarter, Holdings Channel reports. The fund owned 16,112 shares of the industrial products company’s stock after selling 69 shares during the quarter. Federated Hermes Inc.’s holdings in Reliance Steel & Aluminum were worth $4,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Reliance Steel & Aluminum by 336.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,202 shares of the industrial products company’s stock worth $12,119,000 after acquiring an additional 36,388 shares in the last quarter. Hilton Capital Management LLC acquired a new position in Reliance Steel & Aluminum during the 1st quarter worth $220,000. Metis Global Partners LLC acquired a new position in Reliance Steel & Aluminum during the 1st quarter worth $237,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Reliance Steel & Aluminum during the 1st quarter worth $5,278,000. Finally, Donoghue Forlines LLC acquired a new position in Reliance Steel & Aluminum during the 1st quarter worth $565,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Wolfe Research downgraded Reliance Steel & Aluminum from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $270.00.

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Reliance Steel & Aluminum Stock Performance

RS stock opened at $284.82 on Tuesday. The business’s fifty day moving average is $273.23 and its 200-day moving average is $254.34. The company has a quick ratio of 2.83, a current ratio of 5.18 and a debt-to-equity ratio of 0.15. The company has a market cap of $16.68 billion, a P/E ratio of 11.28 and a beta of 0.91. Reliance Steel & Aluminum Co. has a twelve month low of $168.24 and a twelve month high of $295.98.

Reliance Steel & Aluminum (NYSE:RS – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $6.49 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.03). Reliance Steel & Aluminum had a net margin of 9.63% and a return on equity of 20.88%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the prior year, the company earned $9.15 EPS. Reliance Steel & Aluminum’s quarterly revenue was down 17.1% on a year-over-year basis. Equities research analysts forecast that Reliance Steel & Aluminum Co. will post 22.19 EPS for the current year.

Reliance Steel & Aluminum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Thursday, August 17th. Reliance Steel & Aluminum’s dividend payout ratio is currently 15.84%.

Insider Activity at Reliance Steel & Aluminum

In related news, Director James Donald Hoffman sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $235.16, for a total value of $2,351,600.00. Following the completion of the sale, the director now owns 124,042 shares in the company, valued at approximately $29,169,716.72. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Reliance Steel & Aluminum news, Director James Donald Hoffman sold 10,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $235.16, for a total transaction of $2,351,600.00. Following the completion of the transaction, the director now owns 124,042 shares in the company, valued at approximately $29,169,716.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William A. Smith II sold 6,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $292.71, for a total value of $1,756,260.00. Following the transaction, the senior vice president now owns 18,366 shares of the company’s stock, valued at approximately $5,375,911.86. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

About Reliance Steel & Aluminum

(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.