Man Group plc Has $3.33 Million Holdings in Reliance, Inc. (NYSE:RS)

Man Group plc decreased its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 14.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,376 shares of the industrial products company's stock after selling 2,073 shares during the period. Man Group plc's holdings in Reliance were worth $3,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 acquiring an additional 128 shares in the last quarter. Transce3nd LLC acquired a new stake in Reliance in the 4th quarter valued at $58,000. Quarry LP raised its position in Reliance by 83.7% in 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 period. Jones Financial Companies Lllp lifted its stake in shares of Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after purchasing an additional 304 shares in the last quarter. Finally, Providence First Trust Co purchased a new stake in shares of Reliance in the fourth quarter worth about $90,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction 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 completion of the transaction, the chief executive officer now 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 document filed with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Reliance Stock Down 1.3%

RS traded down $3.96 during trading hours on Friday, reaching $291.86. 250,529 shares of the stock traded hands, compared to its average volume of 395,451. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. The company has a market cap of $15.35 billion, a price-to-earnings ratio of 18.90 and a beta of 0.91. 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's fifty day simple moving average is $286.71 and its two-hundred day simple moving average is $290.12.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data 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. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.44 billion. During the same period in the prior year, the company posted $5.30 EPS. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.64%. Reliance's dividend payout ratio (DPR) is presently 34.41%.

Analysts Set New Price Targets

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