Multiple Top Chart Pattern Is Formed By Reliance Steel & Aluminum Co. (RS) at $93.81

May 16, 2018 - By Sarah Holford

Reliance Steel & Aluminum Co. (NYSE:RS) Corporate Logo

Big Money Sentiment increased to 1.07 in 2017 Q4. It has change of 0.11, from 2017Q3’s 0.96. The ratio increased due to Reliance Steel & Aluminum Co. positioning: 30 sold and 100 reduced. 42 funds amassed stakes and 97 increased stakes. Investors holded 59.07 million in 2017Q3 but now own 58.59 million shares or 0.81% less.
Secor Capital Advisors Limited Partnership accumulated 22,724 shs. 562,416 are owned by Principal Finance Group. Leuthold Grp Lc stated it has 0.04% of its capital in Reliance Steel & Aluminum Co. (NYSE:RS). Thomas White stated it has 0% of its capital in Reliance Steel & Aluminum Co. (NYSE:RS). Northpointe Capital Ltd Liability Corp invested 0.24% in Reliance Steel & Aluminum Co. (NYSE:RS). Point72 Asia (Hong Kong) Ltd stated it has 0% of its capital in Reliance Steel & Aluminum Co. (NYSE:RS). Captrust Fincl Advsr has 725 shs. State Street Corp has 0.02% invested in Reliance Steel & Aluminum Co. (NYSE:RS). New York State Teachers Retirement Sys invested 0.02% of its capital in Reliance Steel & Aluminum Co. (NYSE:RS). Financial Bank Of Ny Mellon Corporation holds 0.03% in Reliance Steel & Aluminum Co. (NYSE:RS) or 1.12 million shs. Liberty Mutual Gru Asset holds 0.05% or 18,507 shs. Matarin Cap Mgmt Ltd Llc reported 7,598 shs. Alpha Windward Limited Liability holds 0.37% of its capital in Reliance Steel & Aluminum Co. (NYSE:RS) for 7,310 shs. Barrow Hanley Mewhinney Strauss Ltd Liability reported 1,392 shs stake. Stifel stated it has 22,556 shs or 0.01% of all its holdings.

Reliance Steel & Aluminum Co. registered $5.52 million net activity with 0 buys and 7 sales since December 8, 2017. On Tuesday, February 20 Shares for $853,061 were sold by MOLLINS GREGG J. On Wednesday, February 28 GIMBEL THOMAS W also sold $553,860 worth of Reliance Steel & Aluminum Co. (NYSE:RS). HOFFMAN JAMES DONALD also sold $461,500 worth of Reliance Steel & Aluminum Co. (NYSE:RS) on Wednesday, February 21. Smith William A II had sold 1,123 shs worth $92,861 on Friday, December 8. 2,000 shs valued at $185,400 were sold by Sharkey Andrew G III on Wednesday, February 21.

Reliance Steel & Aluminum Co. (RS) formed a multiple top chart pattern with $99.44 price target. That’s 6.00 % above today’s $93.81 stock price. Finviz.com announced the multiple tops chart pattern on May, 16. $407.16 million more could be RS valuation at $99.44 stock price.

The stock increased 1.25% or $1.16 during the last trading session, touching $93.81.Reliance Steel & Aluminum Co. has volume of 285,672 shares. Since May 16, 2017 RS has risen 8.18% and is uptrending. The stock underperformed the S&P 500 by 3.37%.

Investors expect Reliance Steel & Aluminum Co. (NYSE:RS)’s quarterly earnings on July, 26., according to RTT. The earnings per share diference is $1.27 or 90.71 % up from last years number. Previous year: $1.4; Analysts forcast: $2.67. If earnings per share of $2.67 is reported the profit of RS could hit $193.14 million giving it 8.78 P/E. After $2.30 EPS report previous quarter, Wall Street now forecasts 16.09 % EPS growth of Reliance Steel & Aluminum Co..

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

In total 7 analysts cover Reliance Steel (NYSE:RS). “Buy” rating has 5, “Sell” are 0, while 2 are “Hold”. (NYSE:RS) has 71% bullish analysts. With $107.0 highest and $84.0 lowest target, Reliance Steel has $98.67 average target or 5.18% above the current ($93.81) price. 10 are the (NYSE:RS)’s ratings reports on May 16, 2018 according to StockzIntelligence Inc. On Tuesday, December 5 KeyBanc Capital Markets maintained the shares of RS in report with “Buy” rating. The stock rating was maintained by KeyBanc Capital Markets with “Buy” on Thursday, February 15. On Friday, February 16 the rating was maintained by Cowen & Co with “Buy”. On Wednesday, January 10 the stock of Reliance Steel & Aluminum Co. (NYSE:RS) has “Buy” rating given by KeyBanc Capital Markets. In Thursday, January 4 report Cowen & Co maintained it with “Buy” rating and $101.0 target. The stock rating was maintained by Bank of America with “Buy” on Monday, January 8. On Thursday, March 29 the rating was maintained by Deutsche Bank with “Buy”. The stock rating was maintained by Jefferies with “Hold” on Tuesday, January 9. On Wednesday, February 7 the rating was upgraded by Longbow to “Buy”.

There’s an important Reliance Steel & Aluminum Co. (NYSE:RS) news posted by Globenewswire.com. It’s an article titled: “Report: Exploring Fundamental Drivers Behind Reliance Steel & Aluminum, Goldman Sachs BDC, IBERIABANK …” on May 04, 2018.

Reliance Steel & Aluminum Co. (NYSE:RS) Institutional Investors Chart

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