iSAM Funds UK Ltd purchased a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,060 shares of the industrial products company's stock, valued at approximately $824,000.
A number of other large investors also recently made changes to their positions in the stock. Coppell Advisory Solutions LLC increased its position in shares of Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after buying an additional 128 shares in the last quarter. Transce3nd LLC bought a new stake in shares of Reliance in the 4th quarter valued at $58,000. Quarry LP increased 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 increased 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 in the 4th quarter valued at $90,000. Institutional investors and hedge funds own 79.26% of the company's stock.
Reliance Price Performance
RS stock opened at $304.78 on Tuesday. The stock has a 50-day moving average price of $285.34 and a two-hundred day moving average price of $290.17. The stock has a market cap of $16.03 billion, a PE ratio of 19.74 and a beta of 0.91. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $326.87.
Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (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 analysts' expectations of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The company's revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.30 EPS. Equities analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal 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 issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, May 23rd. Reliance's payout ratio is 34.41%.
Insider Activity
In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the completion of the sale, the chief executive officer now directly owns 90,230 shares in the company, 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 at this hyperlink. 0.35% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Separately, KeyCorp increased their target price on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Reliance currently has an average rating of "Hold" and a consensus target price of $319.00.
Check Out Our Latest Analysis on Reliance
Reliance Company Profile
(
Free Report)
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.
See Also
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