Reliance, Inc. (NYSE:RS) Shares Sold by Lbp Am Sa

Lbp Am Sa lowered its position in shares of Reliance, Inc. (NYSE:RS) by 66.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,038 shares of the industrial products company’s stock after selling 2,033 shares during the quarter. Lbp Am Sa’s holdings in Reliance were worth $279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RS. Quarry LP acquired a new position in Reliance during the third quarter worth about $41,000. Versant Capital Management Inc lifted its stake in Reliance by 157.8% in the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 131 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Reliance during the 3rd quarter worth approximately $78,000. Jones Financial Companies Lllp grew its position in shares of Reliance by 1,216.0% in the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 304 shares in the last quarter. Finally, Providence First Trust Co acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $90,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective on the stock. KeyCorp boosted their price target on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Reliance currently has an average rating of “Hold” and a consensus target price of $329.17.

Insider Activity

In other news, CEO Karla R. Lewis sold 31,136 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the sale, the chief executive officer now owns 90,230 shares of the company’s stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

Reliance Stock Up 1.5 %

Shares of RS opened at $283.15 on Monday. The company’s 50-day moving average price is $286.94 and its 200 day moving average price is $289.96. Reliance, Inc. has a 12-month low of $256.98 and a 12-month high of $342.20. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a market cap of $15.00 billion, a P/E ratio of 18.34 and a beta of 0.87.

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

Reliance Increases Dividend

The company also recently declared 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. This represents a $4.80 dividend on an annualized basis and a yield of 1.70%. This is a boost from Reliance’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 7th. Reliance’s dividend payout ratio is 31.09%.

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.