New Age Alpha Advisors LLC Purchases New Holdings in Reliance, Inc. (NYSE:RS)

New Age Alpha Advisors LLC bought a new stake in shares of Reliance, Inc. (NYSE:RS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 494 shares of the industrial products company’s stock, valued at approximately $133,000.

A number of other hedge funds also recently modified their holdings of RS. Quarry LP purchased a new position in Reliance during the third quarter valued at approximately $41,000. Versant Capital Management Inc grew its holdings in shares of Reliance by 157.8% during the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 131 shares in the last quarter. Jones Financial Companies Lllp increased its stake 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 worth $89,000 after acquiring an additional 304 shares during the last quarter. Providence First Trust Co purchased a new stake in shares of Reliance during the fourth quarter worth $90,000. Finally, UMB Bank n.a. boosted its position in Reliance by 41.8% during the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the sale, the chief executive officer now owns 90,230 shares of the company’s stock, valued at $27,115,919.60. The trade was a 25.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.69% of the company’s stock.

Reliance Stock Performance

Shares of NYSE RS opened at $294.43 on Thursday. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The company has a market cap of $15.60 billion, a P/E ratio of 19.07 and a beta of 0.87. The business’s 50 day moving average is $289.13 and its two-hundred day moving average is $290.84.

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

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.63%. This is a positive change from Reliance’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 7th. Reliance’s payout ratio is currently 31.09%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RS shares. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. KeyCorp raised their price objective 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Reliance presently has an average rating of “Hold” and a consensus target price of $329.17.

About Reliance

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.