Reliance Steel & Aluminum Co. (RS) Has Bullish Multiple Top Trading At $93.81

May 16, 2018 - By Eric Painter

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

During 2017 Q4 the big money sentiment increased to 1.07. That’s change of 0.11, from 2017Q3’s 0.96. 30 investors sold all, 100 reduced holdings as Reliance Steel & Aluminum Co. ratio improved. 97 increased positions while 42 funds amassed positions. Funds hold 58.59 million shares thus 0.81% less from 2017Q3’s 59.07 million shares.
Wealthtrust reported 0.01% stake. 6.23 million were reported by Vanguard Grp. Pacad Inv Ltd invested 0.06% of its capital in Reliance Steel & Aluminum Co. (NYSE:RS). Lodge Hill Cap Limited Co invested 0.9% of its capital in Reliance Steel & Aluminum Co. (NYSE:RS). Argent Capital Management Limited Company reported 6,517 shs stake. Qci Asset has invested 0% in Reliance Steel & Aluminum Co. (NYSE:RS). Parametric Portfolio Assocs Limited holds 0.03% or 334,567 shs in its capital. 30,205 are held by Nordea Invest Mngmt Ab. Price T Rowe Assocs Md, Maryland-based fund reported 673,955 shs. Bank & Trust Of Montreal Can reported 6,804 shs. Jensen Inv Mngmt Inc reported 28,600 shs. State Street reported 2.46M shs or 0.02% of all its holdings. Sg Americas Securities Ltd Liability Corporation accumulated 0.02% or 23,942 shs. Invesco Ltd reported 0% of its capital in Reliance Steel & Aluminum Co. (NYSE:RS). Manufacturers Life Ins The reported 0.01% stake.

Reliance Steel & Aluminum Co. registered $5.52 million net activity with 0 insider purchases and 7 insider sales since December 8, 2017. On Wednesday, February 21 a trade for 2,000 shs valued at $185,400 was made by Sharkey Andrew G III. The insider MOLLINS GREGG J sold $853,061. GIMBEL THOMAS W also sold $553,860 worth of Reliance Steel & Aluminum Co. (NYSE:RS) shs. Smith William A II sold $92,861 worth of Reliance Steel & Aluminum Co. (NYSE:RS) or 1,123 shs on Friday, December 8. 5,000 shs were sold by HOFFMAN JAMES DONALD, worth $461,500.

Reliance Steel & Aluminum Co. (RS) formed a multiple top chart pattern with $99.44 price target. That’s 6.00 % above today’s $93.81 stock price. Finviz.com announced the multiple tops chart pattern on May, 16. $407.16 million more could be RS valuation at $99.44 stock price.

The stock increased 1.25% or $1.16 during the last trading session, reaching $93.81.Currently Reliance Steel & Aluminum Co. is uptrending after 8.18% change in last May 16, 2017. RS has 285,672 shares volume. The stock underperformed the S&P 500 by 3.37%.

Reliance Steel & Aluminum Co. (NYSE:RS)’s earnings report is expected on July, 26., Zacks reports. This year’s earnings per share analyst estimate is expected to be $2.67. That is 90.71 % up compareed to $1.4 earnings per share for last year. If $2.67 is reported, RS’s profit will hit $193.14M for 8.78 P/E. 16.09 % EPS growth is what Wall Street’s predicts after $2.30 reported EPS previous quarter.

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

In total 7 analysts cover Reliance Steel (NYSE:RS). “Buy” rating has 5, “Sell” are 0, while 2 are “Hold”. 71% are bullish. With $107.0 highest and $84.0 lowest price target Reliance Steel has $98.67 average price target or 5.18% above the current ($93.81) price. 10 are the (NYSE:RS)’s analyst reports since December 5, 2017 according to StockzIntelligence Inc. In Tuesday, December 5 report KeyBanc Capital Markets maintained it with “Buy” rating and $84.0 target. On Monday, January 8 Bank of America maintained Reliance Steel & Aluminum Co. (NYSE:RS) with “Buy” rating. In Wednesday, February 7 report Longbow upgraded the stock to “Buy” rating. On Thursday, January 4 Cowen & Co maintained Reliance Steel & Aluminum Co. (NYSE:RS) rating. Cowen & Co has “Buy” rating and $101.0 target. On Friday, February 16 the rating was maintained by Cowen & Co with “Buy”. On Thursday, February 15 the rating was maintained by KeyBanc Capital Markets with “Buy”. On Tuesday, January 9 Jefferies maintained Reliance Steel & Aluminum Co. (NYSE:RS) with “Hold” rating. On Wednesday, January 10 the rating was maintained by KeyBanc Capital Markets with “Buy”. On Thursday, March 29 Deutsche Bank maintained Reliance Steel & Aluminum Co. (NYSE:RS) with “Buy” rating.

There’s an important Reliance Steel & Aluminum Co. (NYSE:RS) news posted by Globenewswire.com. It’s an item titled: “Report: Exploring Fundamental Drivers Behind Reliance Steel & Aluminum, Goldman Sachs BDC, IBERIABANK …” on May 04, 2018.

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

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