SAC Capital purchases funds in Reliance Steel during fourth quarter

Stamford, Connecticut-based investment management firm SAC Capital Advisors LP announced Thursday it had bought stakes in Reliance Steel & Aluminum Co. during the fourth quarter. The firm invested in 1.26 million shares valued at $61.5 million, according to a company filing with the US Securities and Exchange Commission (SEC). The purchase was among the largest new holding for SAC during the previous quarter.