Reliance Steel And Aluminum (RS): Today's Featured Industrial Goods Winner

Reliance Steel and Aluminum ( RS) pushed the Industrial Goods sector higher today making it today's featured industrial goods winner. The sector as a whole closed the day up 0.3%. By the end of trading, Reliance Steel and Aluminum rose $1.42 (2.1%) to $68.31 on average volume. Throughout the day, 654,414 shares of Reliance Steel and Aluminum exchanged hands as compared to its average daily volume of 504,900 shares. The stock ranged in a price between $66.62-$68.44 after having opened the day at $67.00 as compared to the previous trading day's close of $66.89. Other companies within the Industrial Goods sector that increased today were: JinkoSolar ( JKS), up 17.9%, Real Goods Solar ( RSOL), up 13.7%, NF Energy Saving ( NFEC), up 11.6% and Bonso Electronics International ( BNSO), up 9.9%.

Reliance Steel & Aluminum Co. operates as a metals service center company. Reliance Steel and Aluminum has a market cap of $5.2 billion and is part of the industrial industry. Shares are up 8.4% year to date as of the close of trading on Friday. Currently there are 7 analysts that rate Reliance Steel and Aluminum a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Reliance Steel and Aluminum as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the negative front, China Valves Technology ( CVVT), down 13.3%, Art's-Way Manufacturing ( ARTW), down 12.8%, MagneGas Corporation ( MNGA), down 9.5% and GreenHunter Resources ( GRH), down 7.8% , were all laggards within the industrial goods sector with PulteGroup ( PHM) being today's industrial goods sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider Industrial Select Sector SPDR ( XLI) while those bearish on the industrial goods sector could consider ProShares Short Dow 30 ( DOG).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
null

If you liked this article you might like

Closing Bell: LIVE MARKETS BLOG

Closing Bell: LIVE MARKETS BLOG

Steel Stocks Soar on Reports of Commerce Department Push for Steel Tariffs

Steel Stocks Soar on Reports of Commerce Department Push for Steel Tariffs

Tesla's Massive New Electric Big Rig Might Eventually Be Hauling Your Furniture

Tesla's Massive New Electric Big Rig Might Eventually Be Hauling Your Furniture

Steel Stocks Mostly Fall Even as Credit Suisse Shows the Rustbelt Some Love

Steel Stocks Mostly Fall Even as Credit Suisse Shows the Rustbelt Some Love

20 Mid-Cap Dividend Growers Are Blips on My Tracking Radar

20 Mid-Cap Dividend Growers Are Blips on My Tracking Radar