Aquatic Capital Management LLC Acquires Shares of 7,448 Reliance, Inc. (NYSE:RS)

Aquatic Capital Management LLC purchased a new position in Reliance, Inc. (NYSE:RS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,448 shares of the industrial products company's stock, valued at approximately $2,005,000.

A number of other large investors also recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its holdings in Reliance by 6.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 8,946 shares of the industrial products company's stock worth $2,409,000 after buying an additional 523 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Reliance by 7.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 319,609 shares of the industrial products company's stock worth $86,058,000 after acquiring an additional 20,774 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in Reliance by 9.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,866 shares of the industrial products company's stock valued at $1,849,000 after acquiring an additional 608 shares in the last quarter. Coppell Advisory Solutions LLC boosted its stake in Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 128 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Reliance by 48.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,698 shares of the industrial products company's stock worth $726,000 after purchasing an additional 885 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Reliance

In related 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 completion of the transaction, the chief executive officer now directly owns 90,230 shares in the company, valued at $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 is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Reliance Stock Up 0.6 %

Shares of RS stock traded up $1.79 on Thursday, hitting $290.02. The stock had a trading volume of 205,600 shares, compared to its average volume of 399,161. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a one year low of $250.07 and a one year high of $326.87. The business has a 50 day moving average price of $282.54 and a 200 day moving average price of $289.50. The company has a market cap of $15.34 billion, a PE ratio of 18.78 and a beta of 0.83.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.11. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. Reliance's revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $5.30 earnings per share. Research analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.66%. Reliance's dividend payout ratio is presently 34.41%.

Analyst Ratings Changes

RS has been the subject of several research reports. Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. KeyCorp increased their price target on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $319.00.

Reliance 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.