Reliance Steel & Aluminum Co (RS) Files Form 4 Insider Selling : Michael Patrick Shanley Sells 5,500 Shares

Reliance Steel & Aluminum Co (RS): Michael Patrick Shanley , Sr. VP, Operations of Reliance Steel & Aluminum Co sold 5,500 shares on May 25, 2016. The Insider selling transaction was reported by the company on May 27, 2016 to the Securities and Exchange Commission. The shares were sold at $73.86 per share for a total value of $406,230.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 27, 2016, Douglas M Hayes (director) sold 5,000 shares at $73.78 per share price.On May 27, 2016, David H Hannah (Executive Chairman) sold 30,000 shares at $73.81 per share price.Also, On Apr 29, 2016, Gregg J Mollins (President and CEO) sold 12,500 shares at $73.40 per share price.On Apr 27, 2016, Stephen Paul Koch (Sr. VP, Operations) sold 23,355 shares at $71.25 per share price.

Reliance Steel & Aluminum Co: On Wednesday, May 25, 2016 heightened volatility was witnessed in Reliance Steel & Aluminum Co which led to swings in the share price. The shares opened for trading at $73.25 and hit $74.12 on the upside , eventually ending the session at $73.85, with a gain of 1.15% or 0.84 points. The heightened volatility saw the trading volume jump to 6,35,465 shares. The 52-week high of the share price is $74.915 and the company has a market cap of $5,342 M . The 52-week low of the share price is at $50.08.

Reliance Steel & Aluminum Co Money Flow Index Chart

Company has been under the radar of several Street Analysts.Reliance Steel & Aluminum Co is Upgraded by Rosenblatt to Neutral and the brokerage firm has set the Price Target at $69. Earlier the firm had a rating of Sell on the company shares. The Rating was issued on Apr 28, 2016.Reliance Steel & Aluminum Co is Reiterated by Cowen to Outperform and the brokerage firm has raised the Price Target to $ 78 from a previous price target of $70 .The Rating was issued on Apr 25, 2016.Reliance Steel & Aluminum Co is Downgraded by Credit Agricole to Underperform. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on Apr 22, 2016.Reliance Steel & Aluminum Co is Downgraded by BofA/Merrill to Underperform. Earlier the firm had a rating of Neutral on the company shares. The Rating was issued on Apr 19, 2016.Reliance Steel & Aluminum Co is Downgraded by Deutsche Bank to Hold and the brokerage firm has set the Price Target at $70. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on Mar 23, 2016.

Reliance Steel & Aluminum Co. is a metals service center company in North America. The Company provides a variety of processing services and delivers products to fabricators manufacturers and other end users. It has a network of more than 300 locations in 39 states in the United States and in 12 other countries including Australia Belgium Canada China France Malaysia Mexico Singapore South Korea Turkey the United Arab Emirates and the United Kingdom. It provides metals processing services and distributes a line of more than 100000 metal products including alloy aluminum brass copper carbon steel stainless steel titanium and specialty steel products. It also provides toll processing of aluminum carbon steel and stainless steel miscellaneous including brass copper and titanium and offers processing services which range from cutting leveling or sawing to complete processes such as machining or electropolishing.

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