Reliance Steel & Aluminum Co. (NYSE:RS) announced a quarterly dividend on Thursday, July 27th, RTT News reports. Shareholders of record on Friday, August 18th will be paid a dividend of 0.45 per share by the industrial products company on Friday, September 8th. This represents a $1.80 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, August 16th.
Reliance Steel & Aluminum Co. has increased its dividend payment by an average of 9.4% annually over the last three years and has increased its dividend every year for the last 6 years. Reliance Steel & Aluminum Co. has a dividend payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Reliance Steel & Aluminum Co. to earn $5.99 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 30.1%.
Shares of Reliance Steel & Aluminum Co. (NYSE RS) traded up 1.17% during mid-day trading on Monday, reaching $73.33. 62,181 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $73.14 and a 200 day moving average price of $77.50. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 16.54 and a beta of 1.23. Reliance Steel & Aluminum Co. has a 12-month low of $65.10 and a 12-month high of $88.58.
Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.02. The company had revenue of $2.48 billion during the quarter. Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%. Reliance Steel & Aluminum Co.’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $1.36 earnings per share. Analysts anticipate that Reliance Steel & Aluminum Co. will post $5.17 EPS for the current fiscal year.
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RS has been the subject of several research reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $77.00 price target (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a research report on Friday, April 28th. Barclays PLC reaffirmed a “hold” rating and issued a $59.00 price target on shares of Reliance Steel & Aluminum Co. in a research report on Monday, May 1st. BidaskClub raised shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Longbow Research assumed coverage on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, April 19th. They set a “neutral” rating for the company. Finally, Cowen and Company set a $92.00 price target on shares of Reliance Steel & Aluminum Co. and gave the company an “outperform” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Reliance Steel & Aluminum Co. has a consensus rating of “Buy” and a consensus target price of $82.86.
Reliance Steel & Aluminum Co. Company Profile
Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).
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