Large Outflow of Money Witnessed in Reliance Steel & Aluminum Co.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) advanced to $76.7. The price had gained 0.63% or 0.48 points intraday. The latest trading session witnessed $10.06 million in upticks and $16.42 million in downticks, resulting in net money flow of (-6.36) million. The up/down ratio for the day stood at 0.61. On a weekly scale, the price has seen a change of 1.83%. From the trading data available, it was disclosed that a block trade of negative money flow worth $(-5.24) million occurred during the day. $0.78 million in uptick and $6.02 million in downtick were the highlight of the block transaction which had an up/down ratio of 0.13.


Currently the company Insiders own 3.73% of Reliance Steel & Aluminum Co. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -46.85% . Institutional Investors own 80.82% of Reliance Steel & Aluminum Co. shares. During last six month period, the net percent change held by insiders has seen a change of -46.85%. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Smith William A Ii, officer (SVP, General Counsel, Corp Sec) of Reliance Steel & Aluminum Co, had unloaded 1,183 shares at an average price of $77.92 in a transaction dated on June 8, 2016. The total value of the transaction was worth $92,179.

Reliance Steel & Aluminum Co. (NYSE:RS) stock ended Monday session in the red zone in a volatile trading. The stock closed down 1.22 points or 1.59% at $75.48 with 404,429 shares getting traded. Post opening the session at $76.46, the shares hit an intraday low of $75.46 and an intraday high of $76.7 and the price was in this range throughout the day. The company has a market cap of $5,460 million and the number of outstanding shares have been calculated to be 72,332,193 shares. The 52-week high of Reliance Steel & Aluminum Co. (NYSE:RS) is $78.3 and the 52-week low is $50.08.

Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm Jefferies maintains its rating on Reliance Steel & Aluminum Co. (NYSE:RS). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Jefferies raises the price target from $68 per share to $72 per share. The rating by the firm was issued on June 10, 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 100,000 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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