Ethic Inc. Has $8.68 Million Stake in Reliance, Inc. (NYSE:RS)

Ethic Inc. lifted its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 36.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,229 shares of the industrial products company's stock after purchasing an additional 8,619 shares during the quarter. Ethic Inc. owned about 0.06% of Reliance worth $8,678,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RS. Coppell Advisory Solutions LLC boosted its position in Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after purchasing an additional 128 shares during the period. Transce3nd LLC bought a new position in Reliance during the 4th quarter worth approximately $58,000. Quarry LP increased its stake in Reliance by 83.7% during the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 118 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Reliance by 1,216.0% in the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $89,000 after acquiring an additional 304 shares during the period. Finally, Providence First Trust Co acquired a new stake in Reliance in the fourth quarter worth $90,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, KeyCorp boosted their price target on shares of Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research 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, Reliance has an average rating of "Hold" and an average price target of $319.00.

Insiders Place Their Bets

In related news, CEO Karla R. Lewis sold 31,136 shares of the company's stock in a transaction dated 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 owns 90,230 shares in the company, valued at approximately $27,115,919.60. This represents a 25.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company's stock.

Reliance Price Performance

Shares of Reliance stock traded down $5.26 during midday trading on Tuesday, hitting $299.19. 275,357 shares of the company were exchanged, compared to its average volume of 397,998. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $326.87. The firm has a 50 day simple moving average of $283.80 and a 200-day simple moving average of $289.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The firm has a market cap of $15.73 billion, a P/E ratio of 19.38 and a beta of 0.91.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, topping analysts' consensus estimates of $3.66 by $0.11. The firm had revenue of $3.48 billion during 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%. The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.30 EPS. Research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current 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 paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, May 23rd. Reliance's dividend payout ratio is currently 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.