Large Inflow of Money Detected in Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co. (RS): $1.37 million was the positive money flow into the stock on Wednesday and the up/down ratio of ticks was also in favor of the bulls at 1.29. The value of trades done on upticks was $6.05 million, whereas, trades done on downticks were valued at $4.68 million. Money flows are calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades. large traders, also sometimes called as the smart money, block traded $0.1 million worth stocks on upticks, which is a bullish indication. The money flow in block trades was $0.1 million. Reliance Steel & Aluminum Co. (RS) fell $0.35 traded at $81.65, a change of -0.43% over the previous day. The stock is -2.45% for the week.


Also, 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. (NYSE:RS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $81.33 and $80.33 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $82.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $82.28, notching a gain of 0.34% for the day. The total traded volume was 1,507,715 . The stock had closed at $82.00 on the previous day.

The stock has recorded a 20-day Moving Average of 4.58% and the 50-Day Moving Average is 8.38%. In a related news, 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. 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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