Reliance, Inc. (NYSE:RS) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 97.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,427 shares of the industrial products company's stock after selling 45,798 shares during the period. Guggenheim Capital LLC's holdings in Reliance were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in shares of Reliance in the 4th quarter valued at approximately $7,352,000. Pure Financial Advisors LLC raised its holdings in shares of Reliance by 232.9% in the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company's stock valued at $2,499,000 after buying an additional 6,493 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Reliance in the 3rd quarter valued at $4,600,000. Nordea Investment Management AB lifted its stake in Reliance by 11.0% during the 4th quarter. Nordea Investment Management AB now owns 4,951 shares of the industrial products company's stock worth $1,332,000 after acquiring an additional 489 shares in the last quarter. Finally, Occidental Asset Management LLC boosted its holdings in Reliance by 5.8% during the 4th quarter. Occidental Asset Management LLC now owns 16,494 shares of the industrial products company's stock valued at $4,441,000 after acquiring an additional 898 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Stock Up 2.0 %

NYSE:RS traded up $5.84 during mid-day trading on Friday, hitting $296.15. The stock had a trading volume of 41,928 shares, compared to its average volume of 437,017. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $326.87. The stock has a 50-day simple moving average of $282.54 and a two-hundred day simple moving average of $289.50. 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 company has a market capitalization of $15.66 billion, a PE ratio of 19.18 and a beta of 0.83.

Reliance (NYSE:RS - Get Free Report) last announced 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. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company's revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $5.30 EPS. On average, equities research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The firm 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. 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 1.62%. Reliance's payout ratio is currently 34.41%.

Insider Transactions at Reliance

In related 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 transaction of $9,356,990.72. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

RS has been the subject of several recent research reports. Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. KeyCorp boosted their price target on shares of Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $319.00.

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.