Caisse DE Depot ET Placement DU Quebec Has $55.08 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

Caisse DE Depot ET Placement DU Quebec lessened its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 30.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 204,546 shares of the industrial products company's stock after selling 91,487 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.38% of Reliance worth $55,076,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Pacer Advisors Inc. lifted its stake in Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company's stock valued at $219,841,000 after buying an additional 803,730 shares during the period. Norges Bank acquired a new position in Reliance during the fourth quarter valued at approximately $186,255,000. American Century Companies Inc. raised its holdings in Reliance by 1,127.9% in the fourth quarter. American Century Companies Inc. now owns 426,986 shares of the industrial products company's stock worth $114,971,000 after purchasing an additional 392,213 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Reliance by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock worth $998,886,000 after purchasing an additional 319,576 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Reliance by 53.5% in the 4th quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock valued at $195,402,000 after buying an additional 252,955 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Reliance Stock Performance

RS traded up $1.48 during trading hours on Tuesday, reaching $296.45. The company's stock had a trading volume of 302,072 shares, compared to its average volume of 398,298. The company's 50-day moving average is $282.58 and its 200-day moving average is $289.47. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $326.87. The firm has a market cap of $15.68 billion, a PE ratio of 19.20 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21.

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

Reliance Announces Dividend

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

Wall Street Analysts Forecast Growth

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