Axa S.A. Has $13.80 Million Stock Position in Reliance, Inc. (NYSE:RS)

AXA S.A. decreased its position in Reliance, Inc. (NYSE:RS - Free Report) by 32.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,260 shares of the industrial products company's stock after selling 24,813 shares during the period. AXA S.A. owned 0.09% of Reliance worth $13,802,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in 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 lifted their target price on shares of Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $319.00.

Insider Activity

In related news, CEO Karla R. Lewis sold 31,136 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 through this hyperlink. Insiders own 0.35% of the company's stock.

Reliance Stock Performance

RS traded down $1.87 during trading on Thursday, reaching $295.42. The company's stock had a trading volume of 228,526 shares, compared to its average volume of 397,986. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The company's fifty day moving average price is $282.75 and its 200-day moving average price is $289.57. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $326.87. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 19.13 and a beta of 0.91.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. The business had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the business posted $5.30 earnings per share. On average, equities analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

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

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.