Reliance, Inc. (NYSE:RS) Holdings Raised by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. boosted its holdings in Reliance, Inc. (NYSE:RS) by 226.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,279 shares of the industrial products company’s stock after purchasing an additional 2,969 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Reliance were worth $1,152,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new stake in shares of Reliance during the 4th quarter worth approximately $7,352,000. Toronto Dominion Bank increased its position in Reliance by 26.7% in the third quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock worth $2,371,000 after buying an additional 1,729 shares during the period. Pure Financial Advisors LLC lifted its stake in Reliance by 232.9% in the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock valued at $2,499,000 after buying an additional 6,493 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Reliance during the third quarter valued at $4,600,000. Finally, Nordea Investment Management AB grew its position in shares of Reliance by 11.0% during the fourth quarter. Nordea Investment Management AB now owns 4,951 shares of the industrial products company’s stock worth $1,332,000 after acquiring an additional 489 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Activity at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 90,230 shares of the company’s stock, valued at $27,115,919.60. This trade represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.69% of the company’s stock.

Reliance Trading Down 4.0 %

Shares of NYSE:RS opened at $264.32 on Friday. Reliance, Inc. has a twelve month low of $256.98 and a twelve 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 $14.00 billion, a P/E ratio of 17.12 and a beta of 0.87. The company has a 50 day moving average of $288.35 and a 200-day moving average of $290.70.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($0.52). The firm 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%. As a group, analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.82%. This is an increase from Reliance’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 7th. Reliance’s dividend payout ratio is presently 31.09%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RS. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. KeyCorp increased their price objective on Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $329.17.

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.