Reliance Steel & Aluminum Co. (RS)’s Trend Up, Especially After Today’s All-Time High Milestone

February 15, 2018 - By Richard Conner

Investors sentiment decreased to 0.96 in 2017 Q3. Its down 0.27, from 1.23 in 2017Q2. It is negative, as 32 investors sold Reliance Steel & Aluminum Co. shares while 105 reduced holdings. 31 funds opened positions while 101 raised stakes. 59.07 million shares or 1.45% less from 59.94 million shares in 2017Q2 were reported.
Jfs Wealth has 0.01% invested in Reliance Steel & Aluminum Co. (NYSE:RS). Sg Americas Secs Ltd Liability Co holds 0% or 1,794 shares. Renaissance Technology Ltd Liability has invested 0.02% in Reliance Steel & Aluminum Co. (NYSE:RS). Proshare Advsr Ltd Liability Co reported 9,062 shares stake. Moreover, Epoch Inv Partners has 0.08% invested in Reliance Steel & Aluminum Co. (NYSE:RS). Stevens Capital Lp accumulated 5,192 shares or 0.01% of the stock. 15,911 are owned by Freestone Capital Ltd Company. Virginia Retirement Systems Et Al has invested 0% in Reliance Steel & Aluminum Co. (NYSE:RS). Mackenzie Fincl Corp owns 186,268 shares. Perigon Wealth Mngmt Limited Liability Co holds 141 shares. Moreover, Delta Asset Mngmt Limited Liability Company Tn has 0% invested in Reliance Steel & Aluminum Co. (NYSE:RS) for 11 shares. Kennedy Cap Mngmt owns 96,809 shares for 0.13% of their portfolio. Sei Company has 19,704 shares for 0.01% of their portfolio. Northpointe Cap Ltd Liability Company owns 36,193 shares. Robeco Institutional Asset Mgmt Bv invested in 0.05% or 112,620 shares.

Since December 8, 2017, it had 0 insider purchases, and 1 insider sale for $92,861 activity.

The stock of Reliance Steel & Aluminum Co. (NYSE:RS) reached all time high today, Feb, 15 and still has $97.71 target or 7.00 % above today’s $91.32 share price. This indicates more upside for the $6.66 billion company. This technical setup was reported by If the $97.71 PT is reached, the company will be worth $466.13 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 3.08% or $2.73 during the last trading session, reaching $91.32. About 619,564 shares traded or 46.24% up from the average. Reliance Steel & Aluminum Co. (NYSE:RS) has risen 0.13% since February 15, 2017 and is uptrending. It has underperformed by 16.57% the S&P500.

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

Among 9 analysts covering Reliance Steel (NYSE:RS), 7 have Buy rating, 0 Sell and 2 Hold. Therefore 78% are positive. Reliance Steel had 36 analyst reports since September 8, 2015 according to SRatingsIntel. The firm has “Outperform” rating given on Friday, July 22 by Cowen & Co. The firm has “Underperform” rating given on Tuesday, April 19 by Bank of America. The firm has “Buy” rating by Clarksons Platou given on Tuesday, October 18. The firm has “Outperform” rating given on Tuesday, March 14 by Macquarie Research. The stock has “Neutral” rating by Rosenblatt on Thursday, April 28. The rating was upgraded by Longbow on Wednesday, February 7 to “Buy”. The stock of Reliance Steel & Aluminum Co. (NYSE:RS) earned “Buy” rating by Cowen & Co on Thursday, January 4. Jefferies maintained the stock with “Hold” rating in Wednesday, August 30 report. The stock has “Buy” rating by KeyBanc Capital Markets on Wednesday, September 27. Bank of America maintained the stock with “Buy” rating in Tuesday, September 5 report.

More notable recent Reliance Steel & Aluminum Co. (NYSE:RS) news were published by: which released: “Should Value Investors Pick Reliance Steel & Aluminum Stock?” on January 23, 2018, also with their article: “Reliance Steel & Aluminum Co. Completes Acquisition of Ferguson Perforating …” published on October 03, 2017, published: “Reliance Steel & Aluminum Co. Reports Third Quarter 2017 Financial Results” on October 26, 2017. More interesting news about Reliance Steel & Aluminum Co. (NYSE:RS) were released by: and their article: “Can Reliance Steel (RS) Keep Its Earnings Streak Alive in Q4?” published on February 12, 2018 as well as‘s news article titled: “Petersen Flynn & Dinsmore Inc Buys Reliance Steel & Aluminum Co, Ishares MSCI …” with publication date: February 13, 2018.

Reliance Steel & Aluminum Co. operates as a metals service center company. The company has market cap of $6.66 billion. The firm provides metals processing services and distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products. It has a 17.97 P/E ratio. The Company’s primary processing services comprise cutting, leveling, sawing, machining, and electro polishing.

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