Nomura Holdings Inc. Takes Position in Reliance, Inc. (NYSE:RS)

Nomura Holdings Inc. bought a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,181 shares of the industrial products company's stock, valued at approximately $1,934,000.

A number of other large investors also recently bought and sold shares of RS. Barclays PLC lifted its position in Reliance by 10.7% in the third quarter. Barclays PLC now owns 76,131 shares of the industrial products company's stock valued at $22,017,000 after buying an additional 7,373 shares during the last quarter. Oak Thistle LLC increased its stake in Reliance by 103.7% during the fourth quarter. Oak Thistle LLC now owns 2,123 shares of the industrial products company's stock worth $572,000 after purchasing an additional 1,081 shares during the period. Assenagon Asset Management S.A. increased its stake in Reliance by 478.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 50,694 shares of the industrial products company's stock worth $13,650,000 after purchasing an additional 41,925 shares during the period. Park Avenue Securities LLC increased its stake in Reliance by 18.1% during the fourth quarter. Park Avenue Securities LLC now owns 2,037 shares of the industrial products company's stock worth $549,000 after purchasing an additional 312 shares during the period. Finally, Morton Capital Management LLC CA purchased a new stake in Reliance during the fourth quarter worth about $233,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $319.00.

Insider Buying and Selling

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the 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 transaction, the chief executive officer now directly owns 90,230 shares in the company, valued at $27,115,919.60. This represents a 25.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company's stock.

Reliance Stock Up 1.1%

RS stock opened at $303.96 on Friday. The company's 50 day moving average price is $284.80 and its 200 day moving average price is $290.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 19.69 and a beta of 0.91.

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 for the quarter, topping 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 firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the firm earned $5.30 earnings per share. The business's quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $1.20 per share. The ex-dividend date is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.58%. Reliance's payout ratio is 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.

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