Reliance, Inc. (NYSE:RS) Stock Holdings Lifted by Northern Trust Corp

Northern Trust Corp grew its stake in Reliance, Inc. (NYSE:RS - Free Report) by 32.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 597,348 shares of the industrial products company's stock after purchasing an additional 147,076 shares during the quarter. Northern Trust Corp owned approximately 1.10% of Reliance worth $160,842,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Pacer Advisors Inc. grew its position in shares of Reliance by 6,311.2% during the 4th quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company's stock valued at $219,841,000 after buying an additional 803,730 shares during the last quarter. Norges Bank bought a new position in shares of Reliance during the fourth quarter valued at approximately $186,255,000. American Century Companies Inc. raised its position in shares of Reliance by 1,127.9% during the 4th quarter. American Century Companies Inc. now owns 426,986 shares of the industrial products company's stock worth $114,971,000 after purchasing an additional 392,213 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Reliance by 9.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock worth $998,886,000 after purchasing an additional 319,576 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Reliance by 53.5% during the 4th quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock valued at $195,402,000 after purchasing an additional 252,955 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Stock Performance

Shares of RS traded up $1.48 during trading hours on Tuesday, reaching $296.45. 302,826 shares of the company's stock traded hands, compared to its average volume of 398,300. The firm has a market capitalization of $15.68 billion, a price-to-earnings ratio of 19.20 and a beta of 0.91. The business's fifty day simple moving average is $282.58 and its two-hundred day simple moving average is $289.47. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $326.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly 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 company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the business posted $5.30 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Friday, May 23rd. Reliance's dividend payout ratio is 34.41%.

Insiders Place Their Bets

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 90,230 shares in the company, valued at approximately $27,115,919.60. The trade was a 25.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RS shares. Wolfe Research raised Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. KeyCorp lifted their price objective on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Reliance currently has an average rating of "Hold" and a consensus target price 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.