Business

Reliance Steel & Aluminum (RS) declares a dividend of $1.00

ProDentim

[ad_1]

Reliance Steel & Aluminum declared on April 25, 2023 that its board of directors had declared a regular quarterly dividend of $1.00 per share ($4.00 annualized). Previously, the company paid $1.00 per share.

Shares must be purchased before the ex-div date of May 25, 2023 to be eligible for the dividend. Shareholders of record as of May 26, 2023 will receive payment on June 9, 2023.

At the current share price of $247.75/share, the stock’s dividend yield is 1.61%.

Looking back five years and taking a sample each week, the average dividend yield was 2.10%, the low 1.50% and the high 3.50%. The standard deviation of returns is 0.37 (n=237).

The current dividend yield is 1.33 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.14. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

The company’s 3-year dividend growth rate is 0.60%, demonstrating that it has increased its dividend over time.

Learn how to reap dividends

Buy stocks. Capture the dividend. Sell ​​shares. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel’s Dividend Capture Calendar.

What is fund sentiment?

There are 1133 funds or institutions reporting positions in Reliance Steel & Aluminum. This is an increase of 71 owner(s) or 6.69% in the last quarter. Average portfolio weight of all funds dedicated to RS is 0.35%, an increase of 9.44%. The total number of shares held by institutions has decreased by 0.10% over the past three months to 56,713,000 shares. RS’s put/call ratio is 0.73, indicating a bullish outlook.

Analyst price forecast suggests 10.85% upside

As of April 24, 2023, the one-year average price target for Reliance Steel & Aluminum was 274.64. The forecast ranges from a low of 264.62 to a high of $294.00. The average price target represents a 10.85% increase from its last published closing price of 247.75.

Check out our ranking of companies with the biggest upward price target.

The expected annual turnover for Reliance Steel & Aluminum is 14,470MM, down 12.33%. Projected annual non-GAAP EPS is 19.88.

What are the other shareholders doing?

RS/Reliance Steel & Aluminum Co. shares held by institutions

IJH – iShares Core S&P Mid-Cap ETF holds 1,812,000 shares representing 3.08% ownership of the company. In its previous filing, the company said it held 1,762,000 shares, representing a raise 2.79%. The company increase its portfolio allocation in SR of 4.22% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 1,783,000 shares representing 3.03% ownership of the company. In its previous filing, the company said it held 1,803,000 shares, representing a decrease 1.10%. The company increase its portfolio allocation in SR of 6.02% over the last quarter.

Wellington Management Group Llp holds 1,660,000 shares representing 2.82% ownership of the company. No change in the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares owns 1,512,000 shares representing 2.57% ownership of the company. In its previous filing, the company said it held 1,531,000 shares, representing a decrease 1.25%. The company increase its portfolio allocation in SR of 6.13% over the last quarter.

Royal London Asset Management holds 1,424,000 shares representing 2.42% ownership of the company. In its previous filing, the company stated that it holds 1,232,000 shares, representing a raise of 13.46%. The company increase its portfolio allocation in SR of 18.49% over the last quarter.

General Reliance Steel and Aluminum Information
(This description is provided by the company.)

Founded in 1939 and based in Los Angeles, California, Reliance Steel & Aluminum Co. is one of the world’s leading providers of diversified metal solutions and the largest metal service center company in North America. Through a network of approximately 300 locations in 40 states and 13 countries outside the United States, Reliance provides value-added metal processing services and distributes a full line of more than 100,000 metal products to more than 125,000 customers in a wide range of industries. Reliance focuses on small orders with fast turnaround and increasing levels of value-added processing. In 2020, Reliance’s average order size was $1,910, approximately 49% of orders included value-added processing, and approximately 40% of orders were delivered within 24 hours.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

[ad_2]

nasdaq

alpilean
Back to top button