Reliance Steel & Aluminum Co. (RS) Reaches $95.64 52-Week High; SHERRITT INTL COPR RESTR VTG ORDINARY SH (SHERF) Sellers Decreased By 5.47% Their Shorts

May 22, 2018 - By Linda Rogers

Sherritt International Corporation (OTCMKTS:SHERF) Logo

The stock of Reliance Steel & Aluminum Co. (NYSE:RS) hit a new 52-week high and has $103.29 target or 8.00% above today’s $95.64 share price. The 9 months bullish chart indicates low risk for the $6.92B company. The 1-year high was reported on May, 22 by Barchart.com. If the $103.29 price target is reached, the company will be worth $553.44M more. The stock increased 1.31% or $1.24 during the last trading session, reaching $95.64. About 28,338 shares traded. Reliance Steel & Aluminum Co. (NYSE:RS) has risen 8.18% since May 22, 2017 and is uptrending. It has underperformed by 3.37% the S&P500.

SHERRITT INTL COPR RESTR VTG ORDINARY SH (OTCMKTS:SHERF) had a decrease of 5.47% in short interest. SHERF’s SI was 1.99 million shares in May as released by FINRA. Its down 5.47% from 2.10 million shares previously. With 32,600 avg volume, 61 days are for SHERRITT INTL COPR RESTR VTG ORDINARY SH (OTCMKTS:SHERF)’s short sellers to cover SHERF’s short positions. The stock increased 2.04% or $0.02 during the last trading session, reaching $1. About 10,000 shares traded. Sherritt International Corporation (OTCMKTS:SHERF) has 0.00% since May 22, 2017 and is . It has underperformed by 11.55% the S&P500.

Sherritt International Corporation engages in mining and refining nickel from lateritic ores in Canada, Cuba, and Madagascar. The company has market cap of $402.88 million. It operates through Moa JV and Fort Site, Ambatovy JV, Metals, Oil and Gas, Power, and Corporate and Other divisions. It has a 1.32 P/E ratio. The Moa JV and Fort Site segment is involved in mining, processing, and refining of nickel and cobalt; and the production and sale of agricultural fertilizers.

Analysts await Reliance Steel & Aluminum Co. (NYSE:RS) to report earnings on July, 26. They expect $2.67 EPS, up 90.71% or $1.27 from last year’s $1.4 per share. RS’s profit will be $193.13 million for 8.96 P/E if the $2.67 EPS becomes a reality. After $2.30 actual EPS reported by Reliance Steel & Aluminum Co. for the previous quarter, Wall Street now forecasts 16.09% EPS growth.

Reliance Steel & Aluminum Co. operates as a metals service center company. The company has market cap of $6.92 billion. The firm provides metals processing services and distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products. It has a 11.47 P/E ratio. The Company’s primary processing services comprise cutting, leveling, sawing, machining, and electro polishing.

Investors sentiment increased to 1.07 in Q4 2017. Its up 0.11, from 0.96 in 2017Q3. It increased, as 30 investors sold Reliance Steel & Aluminum Co. shares while 100 reduced holdings. 42 funds opened positions while 97 raised stakes. 58.59 million shares or 0.81% less from 59.07 million shares in 2017Q3 were reported. Ls Advsr Limited Liability Co holds 0.02% or 4,529 shares. Savings Bank Of America Corporation De reported 335,313 shares. State Street stated it has 0.02% in Reliance Steel & Aluminum Co. (NYSE:RS). Yorktown And has 0.27% invested in Reliance Steel & Aluminum Co. (NYSE:RS) for 11,100 shares. Hancock Hldgs stated it has 0.63% in Reliance Steel & Aluminum Co. (NYSE:RS). The Japan-based Daiwa Gp has invested 0.01% in Reliance Steel & Aluminum Co. (NYSE:RS). Deroy And Devereaux Private Invest Counsel Incorporated has 229,370 shares for 2.08% of their portfolio. Ameriprise Financial owns 405,508 shares. Schwab Charles Mgmt reported 0.02% in Reliance Steel & Aluminum Co. (NYSE:RS). Moreover, Benjamin F Edwards Co has 0.02% invested in Reliance Steel & Aluminum Co. (NYSE:RS) for 1,819 shares. Boston Private Wealth Limited Liability Co holds 7,930 shares. Smith Asset Group Incorporated Limited Partnership has 440 shares. Employees Retirement Association Of Colorado has invested 0.01% of its portfolio in Reliance Steel & Aluminum Co. (NYSE:RS). Adage Group Limited Com reported 0.13% stake. Liberty Mutual Gp Asset Mngmt Incorporated stated it has 18,507 shares.

Since December 8, 2017, it had 0 insider buys, and 7 sales for $5.52 million activity. 6,000 shares were sold by HAYES DOUGLAS M, worth $561,480 on Monday, March 5. Shares for $2.82M were sold by MOLLINS GREGG J on Tuesday, March 6. Sharkey Andrew G III sold $185,400 worth of stock or 2,000 shares. $92,861 worth of Reliance Steel & Aluminum Co. (NYSE:RS) was sold by Smith William A II on Friday, December 8. HOFFMAN JAMES DONALD also sold $461,500 worth of Reliance Steel & Aluminum Co. (NYSE:RS) shares. On Wednesday, February 28 GIMBEL THOMAS W sold $553,860 worth of Reliance Steel & Aluminum Co. (NYSE:RS) or 6,000 shares.

Among 10 analysts covering Reliance Steel (NYSE:RS), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Reliance Steel had 40 analyst reports since September 8, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Tuesday, November 29 by Macquarie Research. On Monday, December 5 the stock rating was maintained by Deutsche Bank with “Buy”. Deutsche Bank maintained the shares of RS in report on Friday, June 23 with “Buy” rating. The firm earned “Buy” rating on Thursday, February 15 by KeyBanc Capital Markets. The rating was maintained by KeyBanc Capital Markets on Wednesday, September 27 with “Buy”. Deutsche Bank maintained Reliance Steel & Aluminum Co. (NYSE:RS) rating on Thursday, March 29. Deutsche Bank has “Buy” rating and $98 target. The firm has “Hold” rating given on Monday, March 21 by Jefferies. The rating was maintained by Cowen & Co with “Buy” on Thursday, January 4. The firm has “Buy” rating by Cowen & Co given on Thursday, August 31. The rating was maintained by Jefferies on Tuesday, January 9 with “Hold”.

Reliance Steel & Aluminum Co. (NYSE:RS) Institutional Positions Chart

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