Worldquant Millennium Advisors LLC Purchases 13,063 Shares of Reliance, Inc. (NYSE:RS)

Worldquant Millennium Advisors LLC lifted its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 133.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,828 shares of the industrial products company's stock after buying an additional 13,063 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Reliance were worth $6,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Coppell Advisory Solutions LLC boosted its stake in Reliance by 224.6% during 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 purchased a new position in shares of Reliance during the fourth quarter valued at approximately $58,000. Quarry LP lifted its holdings in shares of 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 lifted its holdings 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 valued at $89,000 after purchasing an additional 304 shares during the last quarter. Finally, Providence First Trust Co purchased a new position in shares of Reliance during the fourth quarter valued at approximately $90,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, KeyCorp raised their price objective on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research 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, the company currently has a consensus rating of "Hold" and a consensus target price of $319.00.

Reliance Stock Down 1.6%

Shares of Reliance stock opened at $299.20 on Thursday. 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 stock has a market capitalization of $15.73 billion, a PE ratio of 19.38 and a beta of 0.91. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $326.87. The company has a 50-day simple moving average of $286.16 and a two-hundred day simple moving average of $290.32.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.44 billion. During the same quarter last year, the firm earned $5.30 earnings per share. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. On average, analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued 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 is Friday, May 23rd. Reliance's payout ratio is currently 34.41%.

Insiders Place Their Bets

In related 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 value of $9,356,990.72. Following the sale, the chief executive officer now owns 90,230 shares in the company, valued at approximately $27,115,919.60. This trade represents a 25.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

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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