Insider Selling: Reliance Steel & Aluminum Director Unloads 2,000 Shares of Stock (RS)

Reliance Steel & Aluminum (NYSE:RS) Director Andrew G. Sharkey III unloaded 2,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $73.38, for a total transaction of $146,760.00. Following the transaction, the director now directly owns 1,690 shares of the company’s stock, valued at approximately $124,012. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of Reliance Steel & Aluminum (NYSE:RS) opened at 73.43 on Monday. Reliance Steel & Aluminum has a one year low of $65.33 and a one year high of $76.78. The stock’s 50-day moving average is $72.61 and its 200-day moving average is $71.83. The company has a market cap of $5.706 billion and a price-to-earnings ratio of 17.71.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.19 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.24 by $0.05. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company posted $1.09 earnings per share. Reliance Steel & Aluminum’s revenue was up 26.1% compared to the same quarter last year. On average, analysts predict that Reliance Steel & Aluminum will post $5.22 earnings per share for the current fiscal year.

A number of research firms have recently commented on RS. Analysts at Jefferies Group raised their price target on shares of Reliance Steel & Aluminum from $74.00 to $76.00 in a research note on Monday, June 23rd. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Reliance Steel & Aluminum in a research note on Monday, May 19th. They now have a $76.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum currently has a consensus rating of “Hold” and an average price target of $78.00.

Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).

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