Wealth Enhancement Advisory Services LLC Acquires 17,827 Shares of Reliance, Inc. (NYSE:RS)

Wealth Enhancement Advisory Services LLC boosted its stake in Reliance, Inc. (NYSE:RS - Free Report) by 168.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,409 shares of the industrial products company's stock after buying an additional 17,827 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of Reliance worth $7,650,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Coppell Advisory Solutions LLC increased its holdings in Reliance by 224.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 128 shares during the last quarter. Transce3nd LLC bought a new stake in Reliance in the fourth quarter valued at about $58,000. Quarry LP increased its holdings 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 last quarter. Jones Financial Companies Lllp grew 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 position in Reliance in the fourth quarter valued at about $90,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Analysts Set New Price Targets

Separately, KeyCorp boosted their target price on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Reliance currently has an average rating of "Hold" and a consensus price target of $319.00.

Reliance Stock Down 0.4%

Shares of RS stock traded down $1.32 on Thursday, hitting $307.25. 311,146 shares of the stock were exchanged, compared to its average volume of 396,349. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $16.16 billion, a P/E ratio of 19.90 and a beta of 0.91. The business has a 50-day moving average of $288.95 and a 200 day moving average of $289.28. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87.

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, topping the consensus estimate of $3.66 by $0.11. Reliance had a return on equity of 11.87% and a net margin of 6.33%. 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 firm earned $5.30 earnings per share. Reliance's revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.56%. Reliance's payout ratio is presently 34.41%.

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.