1,242 Shares in Reliance, Inc. (NYSE:RS) Purchased by Investment Management Corp VA ADV

Investment Management Corp VA ADV acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,242 shares of the industrial products company's stock, valued at approximately $334,000.

A number of other institutional investors have also recently bought and sold shares of RS. Coppell Advisory Solutions LLC increased its position in shares of Reliance by 224.6% in the fourth 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 in the 4th quarter valued at about $58,000. Quarry LP raised its position in shares of Reliance by 83.7% in the 4th quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after buying an additional 118 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $89,000 after buying an additional 304 shares in the last quarter. Finally, Providence First Trust Co bought a new stake in shares of Reliance during the 4th quarter worth approximately $90,000. Institutional investors own 79.26% of the company's stock.

Insider Activity at Reliance

In related news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by company insiders.

Reliance Stock Down 1.5%

Shares of NYSE:RS opened at $295.36 on Friday. 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 $15.53 billion, a PE ratio of 19.13 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. The company has a fifty day moving average of $286.48 and a 200-day moving average of $290.37.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 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 firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period last year, the firm posted $5.30 earnings per share. The business's revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.63%. Reliance's dividend payout ratio is 34.41%.

Analyst Upgrades and Downgrades

Separately, KeyCorp lifted their target price on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Reliance has a consensus 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.

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