Reliance Steel & Aluminum Co (RS) Shares Sold by Jensen Investment Management Inc.

Jensen Investment Management Inc. trimmed its position in shares of Reliance Steel & Aluminum Co (NYSE:RS) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,912 shares of the industrial products company’s stock after selling 1,288 shares during the quarter. Jensen Investment Management Inc.’s holdings in Reliance Steel & Aluminum were worth $1,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its position in shares of Reliance Steel & Aluminum by 7,017.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,033,327 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 2,004,757 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Reliance Steel & Aluminum by 23.8% in the fourth quarter. Victory Capital Management Inc. now owns 4,001,940 shares of the industrial products company’s stock valued at $284,819,000 after acquiring an additional 768,834 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Reliance Steel & Aluminum by 239.8% in the third quarter. Allianz Asset Management GmbH now owns 460,011 shares of the industrial products company’s stock valued at $39,234,000 after acquiring an additional 324,634 shares in the last quarter. Poplar Forest Capital LLC lifted its position in shares of Reliance Steel & Aluminum by 38.2% in the fourth quarter. Poplar Forest Capital LLC now owns 790,061 shares of the industrial products company’s stock valued at $56,229,000 after acquiring an additional 218,217 shares in the last quarter. Finally, Luminus Management LLC lifted its position in shares of Reliance Steel & Aluminum by 22.7% in the third quarter. Luminus Management LLC now owns 1,146,763 shares of the industrial products company’s stock valued at $97,807,000 after acquiring an additional 211,858 shares in the last quarter. Institutional investors own 85.64% of the company’s stock.

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RS has been the topic of several recent research reports. Macquarie set a $96.00 price objective on Reliance Steel & Aluminum and gave the company a “buy” rating in a research report on Friday, October 26th. Longbow Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a research report on Monday, October 22nd. Cowen initiated coverage on Reliance Steel & Aluminum in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $80.00 price objective on the stock. KeyCorp restated a “buy” rating and issued a $90.00 price objective on shares of Reliance Steel & Aluminum in a research report on Friday, November 30th. Finally, ValuEngine downgraded Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $90.80.

NYSE RS opened at $84.25 on Friday. Reliance Steel & Aluminum Co has a twelve month low of $68.62 and a twelve month high of $97.41. The stock has a market cap of $5.93 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.20 and a beta of 1.22. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39.

In related news, Director David H. Hannah sold 28,080 shares of the stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total transaction of $2,246,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 5,582 shares of the stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $78.98, for a total value of $440,866.36. The disclosure for this sale can be found here. Corporate insiders own 3.24% of the company’s stock.

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Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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