Amalgamated Bank Has $12.06 Million Holdings in Reliance, Inc. (NYSE:RS)

Amalgamated Bank decreased its holdings in shares of Reliance, Inc. (NYSE:RS) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,102 shares of the industrial products company’s stock after selling 1,936 shares during the quarter. Amalgamated Bank owned about 0.07% of Reliance worth $12,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RS. Millburn Ridgefield Corp acquired a new position in Reliance in the third quarter valued at about $33,000. Catalyst Capital Advisors LLC bought a new position in Reliance during the 3rd quarter worth approximately $33,000. Altshuler Shaham Ltd boosted its stake in Reliance by 183.6% during the 3rd quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 134 shares during the last quarter. Blue Trust Inc. grew its holdings in Reliance by 187.9% during the fourth quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 186 shares during the period. Finally, Planned Solutions Inc. bought a new stake in Reliance in the fourth quarter valued at approximately $89,000. 79.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a report on Friday, February 16th. StockNews.com cut Reliance from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets dropped their price target on Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $280.00 to $380.00 in a research report on Thursday, April 11th.

Reliance Stock Down 0.3 %

Shares of RS traded down $0.94 during midday trading on Friday, hitting $289.78. The stock had a trading volume of 249,162 shares, compared to its average volume of 278,406. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.74 and a quick ratio of 3.21. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 5.10 and a beta of 0.92. The company has a 50 day simple moving average of $320.99 and a two-hundred day simple moving average of $292.61. Reliance, Inc. has a twelve month low of $229.12 and a twelve month high of $342.20.

Reliance (NYSE:RS) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.30 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.21). Reliance had a net margin of 8.67% and a return on equity of 16.26%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the firm posted $6.37 EPS. The company’s revenue was down 8.1% on a year-over-year basis. On average, analysts anticipate that Reliance, Inc. will post 19.6 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $1.10 per share. The ex-dividend date is Thursday, May 23rd. This represents a $4.40 annualized dividend and a yield of 1.52%. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Insider Transactions at Reliance

In other Reliance news, Director James Donald Hoffman sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total transaction of $12,918,000.00. Following the transaction, the director now owns 54,042 shares of the company’s stock, valued at approximately $17,452,863.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director James Donald Hoffman sold 40,000 shares of Reliance stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total transaction of $12,918,000.00. Following the completion of the transaction, the director now owns 54,042 shares in the company, valued at $17,452,863.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Arthur Ajemyan sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $322.95, for a total value of $968,850.00. Following the completion of the sale, the chief financial officer now owns 15,577 shares in the company, valued at approximately $5,030,592.15. The disclosure for this sale can be found here. Insiders sold a total of 90,996 shares of company stock worth $29,052,928 in the last three months. Insiders own 0.69% of the company’s stock.

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.