Reliance Steel & Aluminum Stock News

Reliance Steel's (RS) acquisition of Admiral Metals will add to its existing portfolio and generate accretive earnings.

Strs Ohio trimmed its holdings in Reliance Steel & Aluminum Co. (NYSE:RS) by 11.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,903 shares of the industrial products companys stock after selling 2,053 shares during the quarter. Strs Ohios holdings in Reliance Steel & []

Here is how Reliance Steel (RS) and ScanSource (SCSC) have performed compared to their sector so far this year.

Reliance Steel's (RS) acquisition of Nu-Tech is expected to add to its growth in industries like nuclear and aerospace.

LOS ANGELES, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Reliance Steel & Aluminum Co. (NYSE:RS) announced that it has acquired Admiral Metals Servicecenter Company, Inc. (“Admiral Metals”), a leading distributor of non-ferrous metal products in the Northeastern United States. Founded in 1950 and headquartered in Woburn, Massachusetts, Admiral Metals serves a wide variety of end markets including the semiconductor, automotive, medical, infrastructure, aerospace and industrial markets through its eight strategically located service center locations which provide next-day delivery of in-stock items. Admiral Metals’ broad product offering of approximately 3,000 SKUs includes aluminum, brass, bronze, copper, stainless steel and steel in a variety of forms and shapes, including round, hex, rectangle, sheet, square, plate, and tube, among others. Admiral Metals also performs value-added custom cutting services for its customers. Admiral Metals’ annual net sales in 2020 were approximately $134 million.

LOS ANGELES, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Reliance Steel & Aluminum Co. (NYSE:RS) announced that it has acquired Nu-Tech Precision Metals Inc. (“Nu-Tech”), a custom manufacturer of specialty extruded metals, fabricated parts and welded components. Founded in 1985 and headquartered in Arnprior, near Ottawa, Ontario, Nu-Tech serves a wide variety of markets across North America, including the nuclear, aerospace and military markets, among others. Nu-Tech’s broad product offering includes tube, pipe, engineered shapes and round and flat bar from pure metals and alloys of titanium, zirconium, copper, nickel, hafnium, niobium and steel. Nu-Tech’s annual net sales in 2020 were approximately $44 million. The terms of the transaction were not disclosed.

Reliance Steel (RS) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean

Reliance Steel (RS) benefits from higher demand in major end-use markets and strategic acquisitions.

After posting three straight days of gains, U.S. market indexes were down on Thursday morning in anticipation of the consumer price index for November being released by the Labor Department on Friday.

Virginia Retirement Systems ET AL increased its position in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,800 shares of the industrial products companys stock after purchasing an []

Exchange Traded Concepts LLC decreased its stake in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 19.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 307 shares of the industrial products companys stock after selling 74 shares during the quarter. Exchange []

With the Industrial Products sector on a roll for 18 straight months, we suggest betting on these four stocks - EMR, BERY, RS and AIT that are poised to gain on this momentum.

CENTRAL TRUST Co increased its position in Reliance Steel & Aluminum Co. (NYSE:RS) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,164 shares of the industrial products companys stock after purchasing an additional 896 shares during the []

Intersect Capital LLC grew its position in shares of Reliance Steel & Aluminum Co. (NYSE:RS) by 5.4% during the third quarter, HoldingsChannel.com reports. The firm owned 1,730 shares of the industrial products companys stock after purchasing an additional 89 shares during the period. Intersect Capital LLCs holdings in Reliance Steel & Aluminum were worth $246,000 []

Reliance Steel & Aluminum Co. (NYSE:RS) has earned a consensus recommendation of Buy from the ten brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year []