Aquatic Capital Management LLC Buys New Shares in Reliance, Inc. (NYSE:RS)

Aquatic Capital Management LLC bought a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,448 shares of the industrial products company's stock, valued at approximately $2,005,000.

Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of Reliance during the fourth quarter worth $7,352,000. Pure Financial Advisors LLC increased its holdings in Reliance by 232.9% during the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company's stock worth $2,499,000 after purchasing an additional 6,493 shares in the last quarter. World Investment Advisors LLC bought a new position in Reliance during the 3rd quarter worth about $4,600,000. Nordea Investment Management AB raised its stake in shares of Reliance by 11.0% in the 4th quarter. Nordea Investment Management AB now owns 4,951 shares of the industrial products company's stock valued at $1,332,000 after purchasing an additional 489 shares during the period. Finally, Occidental Asset Management LLC lifted its holdings in shares of Reliance by 5.8% in the fourth quarter. Occidental Asset Management LLC now owns 16,494 shares of the industrial products company's stock valued at $4,441,000 after purchasing an additional 898 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Reliance

In related news, CEO Karla R. Lewis sold 31,136 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Reliance Stock Up 2.3 %

Shares of NYSE:RS traded up $6.69 during trading on Friday, hitting $297.00. 214,820 shares of the company were exchanged, compared to its average volume of 399,498. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 19.24 and a beta of 0.91. 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 fifty day moving average price of $282.55 and a two-hundred day moving average price of $289.48.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (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 company had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.44 billion. During the same period last year, the firm posted $5.30 earnings per share. The business's revenue was down 4.4% on a year-over-year basis. As a group, research analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. KeyCorp boosted their target price on 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 shares of Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $319.00.

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.