AdvisorShares Investments LLC Makes New Investment in Reliance, Inc. (NYSE:RS)

AdvisorShares Investments LLC acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,570 shares of the industrial products company's stock, valued at approximately $423,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC boosted its stake in Reliance by 4.1% during the 4th quarter. Quent Capital LLC now owns 941 shares of the industrial products company's stock valued at $253,000 after purchasing an additional 37 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in Reliance by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company's stock valued at $3,002,000 after acquiring an additional 39 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Reliance by 3.1% during the 4th quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock worth $361,000 after acquiring an additional 40 shares during the last quarter. Forum Financial Management LP grew its stake in shares of Reliance by 2.8% in the 4th quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock worth $436,000 after acquiring an additional 44 shares in the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of Reliance by 4.9% in the fourth quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock valued at $269,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Stock Performance

Shares of NYSE:RS traded down $0.69 during mid-day trading on Monday, reaching $296.54. The company had a trading volume of 32,042 shares, compared to its average volume of 398,036. Reliance, Inc. has a one year low of $250.07 and a one year high of $326.87. 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 company's 50-day moving average price is $282.55 and its 200-day moving average price is $289.48. The firm has a market cap of $15.68 billion, a price-to-earnings ratio of 19.21 and a beta of 0.91.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The firm had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. During the same quarter in the prior year, the firm earned $5.30 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $1.20 dividend. The ex-dividend date is Friday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.62%. Reliance's payout ratio is 34.41%.

Insider Activity

In related news, CEO Karla R. Lewis sold 31,136 shares of the business's stock in a transaction on Monday, February 24th. The stock was 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 directly owns 90,230 shares in the company, valued at approximately $27,115,919.60. The trade was a 25.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

RS has been the subject of several analyst reports. KeyCorp increased their price objective on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Reliance presently has a consensus rating of "Hold" and an average target price of $319.00.

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.