Reliance, Inc. (NYSE:RS) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its position in Reliance, Inc. (NYSE:RS) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,710 shares of the industrial products company’s stock after selling 691 shares during the period. Sanctuary Advisors LLC’s holdings in Reliance were worth $3,176,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its holdings in Reliance by 26.7% in the 3rd quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock worth $2,371,000 after acquiring an additional 1,729 shares in the last quarter. Assetmark Inc. grew its position in shares of Reliance by 24.2% in the third quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock valued at $8,074,000 after purchasing an additional 5,431 shares during the period. Dearborn Partners LLC increased its stake in shares of Reliance by 4.1% during the third quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock worth $24,989,000 after purchasing an additional 3,419 shares in the last quarter. Pure Financial Advisors LLC raised its position in shares of Reliance by 232.9% during the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock worth $2,499,000 after purchasing an additional 6,493 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Reliance by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,806 shares of the industrial products company’s stock valued at $36,963,000 after buying an additional 1,696 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of Reliance stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the sale, the chief executive officer now owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by company insiders.

Reliance Price Performance

NYSE:RS opened at $301.06 on Friday. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The stock has a market cap of $16.29 billion, a PE ratio of 19.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The stock has a 50 day moving average price of $281.93 and a 200 day moving average price of $289.30.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52). The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.04 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. Equities research analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a yield of 1.59%. Reliance’s payout ratio is 28.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. KeyCorp cut their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. The Goldman Sachs Group began coverage on Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target for the company. Finally, Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $328.17.

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.