B. Metzler seel. Sohn & Co. Holding AG Makes New $634,000 Investment in Reliance, Inc. (NYSE:RS)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Reliance, Inc. (NYSE:RS) in the 3rd quarter, Holdings Channel reports. The fund acquired 2,192 shares of the industrial products company’s stock, valued at approximately $634,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trust Point Inc. raised its holdings in shares of Reliance by 3.6% in the 3rd quarter. Trust Point Inc. now owns 972 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 34 shares during the period. National Bank of Canada FI increased its position in Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after buying an additional 41 shares during the last quarter. Fulton Bank N.A. raised its stake in Reliance by 3.1% in the third quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock valued at $454,000 after buying an additional 47 shares during the period. Consolidated Planning Corp lifted its position in shares of Reliance by 7.1% in the second quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company’s stock valued at $215,000 after buying an additional 50 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Reliance by 27.0% during the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 53 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Price Performance

NYSE:RS opened at $319.27 on Monday. Reliance, Inc. has a 52 week low of $261.77 and a 52 week high of $342.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. The firm’s 50-day simple moving average is $295.33 and its 200 day simple moving average is $290.77. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 17.53 and a beta of 0.85.

Reliance (NYSE:RS) last announced its earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a return on equity of 13.68% and a net margin of 7.42%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company earned $5.00 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Reliance, Inc. will post 16.45 earnings per share for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.38%. Reliance’s payout ratio is 24.16%.

Insider Transactions at Reliance

In other Reliance news, Director Mark V. Kaminski sold 5,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Arthur Ajemyan sold 6,332 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total value of $2,014,715.76. Following the completion of the sale, the chief financial officer now directly owns 9,245 shares in the company, valued at approximately $2,941,574.10. This represents a 40.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,832 shares of company stock valued at $5,595,881. 0.69% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RS. KeyCorp dropped their price objective on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. BMO Capital Markets lowered their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Reliance presently has an average rating of “Hold” and an average price target of $326.40.

Reliance Company Profile

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.