21,404 Shares in Reliance Steel & Aluminum Co (RS) Purchased by New Amsterdam Partners LLC NY

New Amsterdam Partners LLC NY purchased a new position in shares of Reliance Steel & Aluminum Co (NYSE:RS) in the fourth quarter, HoldingsChannel reports. The fund purchased 21,404 shares of the industrial products company’s stock, valued at approximately $1,523,000.

A number of other large investors have also recently added to or reduced their stakes in RS. First Mercantile Trust Co. boosted its holdings in shares of Reliance Steel & Aluminum by 49.1% in the 4th quarter. First Mercantile Trust Co. now owns 790 shares of the industrial products company’s stock valued at $56,000 after buying an additional 260 shares during the last quarter. Bell Rock Capital LLC boosted its holdings in shares of Reliance Steel & Aluminum by 70.5% in the 4th quarter. Bell Rock Capital LLC now owns 856 shares of the industrial products company’s stock valued at $61,000 after buying an additional 354 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Reliance Steel & Aluminum by 354.2% in the 4th quarter. Huntington National Bank now owns 1,199 shares of the industrial products company’s stock valued at $85,000 after buying an additional 935 shares during the last quarter. ETF Managers Group LLC boosted its holdings in shares of Reliance Steel & Aluminum by 18.4% in the 4th quarter. ETF Managers Group LLC now owns 1,554 shares of the industrial products company’s stock valued at $111,000 after buying an additional 241 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in shares of Reliance Steel & Aluminum in the 3rd quarter valued at approximately $174,000. 81.70% of the stock is owned by hedge funds and other institutional investors.

Get Reliance Steel & Aluminum alerts:

In related news, Director David H. Hannah sold 28,080 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total value of $2,246,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP William A. Smith II sold 5,582 shares of the stock in a transaction on Tuesday, November 20th. The shares were 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. 3.24% of the stock is currently owned by corporate insiders.

RS opened at $82.06 on Friday. Reliance Steel & Aluminum Co has a 1-year low of $68.62 and a 1-year high of $97.41. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $5.78 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.22.

Several equities research analysts have recently commented on RS shares. Zacks Investment Research downgraded Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Cowen started coverage on Reliance Steel & Aluminum in a report on Tuesday, January 8th. They issued an “outperform” rating and a $80.00 price objective for the company. Bank of America raised Reliance Steel & Aluminum from an “underperform” rating to a “neutral” rating and set a $84.00 price objective for the company in a report on Thursday, December 13th. ValuEngine downgraded Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Finally, Longbow Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $90.80.

WARNING: This piece was first reported by Ticker Report and is owned by of Ticker Report. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.tickerreport.com/banking-finance/4139778/21404-shares-in-reliance-steel-aluminum-co-rs-purchased-by-new-amsterdam-partners-llc-ny.html.

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.

Recommended Story: LIBOR

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co (NYSE:RS).