4,914 Shares in Reliance, Inc. (NYSE:RS) Acquired by AIA Group Ltd

AIA Group Ltd bought a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,914 shares of the industrial products company's stock, valued at approximately $1,374,000.

Other large investors have also recently modified their holdings of the company. Worth Asset Management LLC acquired a new stake in Reliance in the first quarter valued at approximately $28,000. Millburn Ridgefield Corp bought a new position in shares of Reliance in the 3rd quarter valued at $33,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Reliance during the 3rd quarter valued at $33,000. Penserra Capital Management LLC bought a new stake in Reliance during the 1st quarter worth $46,000. Finally, Altshuler Shaham Ltd increased its holdings in Reliance by 183.6% in the 3rd quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company's stock worth $54,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Wall Street Analyst Weigh In

RS has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on Reliance from $295.00 to $355.00 and gave the company an "outperform" rating in a report on Tuesday, February 20th. Citigroup downgraded Reliance from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $280.00 to $380.00 in a research report on Thursday, April 11th. Finally, KeyCorp lifted their price objective on Reliance from $300.00 to $362.00 and gave the stock an "overweight" rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Reliance has a consensus rating of "Moderate Buy" and an average price target of $365.67.

Reliance Stock Down 0.2 %

Shares of NYSE RS traded down $0.67 during mid-day trading on Friday, reaching $319.49. 223,702 shares of the company's stock traded hands, compared to its average volume of 237,564. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.66 and a quick ratio of 3.23. The business has a 50-day simple moving average of $323.98 and a 200 day simple moving average of $289.56. The stock has a market cap of $18.35 billion, a P/E ratio of 14.02, a PEG ratio of 5.67 and a beta of 0.87. Reliance, Inc. has a 1-year low of $229.12 and a 1-year high of $342.20.

Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Thursday, February 15th. The industrial products company reported $4.73 earnings per share for the quarter, beating analysts' consensus estimates of $3.92 by $0.81. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.31 billion. Reliance had a return on equity of 17.53% and a net margin of 9.02%. The company's revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the company earned $5.87 earnings per share. On average, analysts expect that Reliance, Inc. will post 19.51 EPS for the current fiscal year.

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $1.10 dividend. The ex-dividend date was Thursday, March 7th. This represents a $4.40 annualized dividend and a yield of 1.38%. This is a boost from Reliance's previous quarterly dividend of $1.00. Reliance's payout ratio is currently 19.46%.

Insider Buying and Selling at Reliance

In related news, CEO Karla R. Lewis sold 42,346 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the completion of the sale, the chief executive officer now owns 84,534 shares in the company, valued at $26,963,809.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Reliance news, CFO Arthur Ajemyan sold 3,000 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $322.95, for a total transaction of $968,850.00. Following the sale, the chief financial officer now directly owns 15,577 shares of the company's stock, valued at $5,030,592.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Karla R. Lewis sold 42,346 shares of Reliance stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the completion of the transaction, the chief executive officer now owns 84,534 shares of the company's stock, valued at approximately $26,963,809.98. The disclosure for this sale can be found here. Insiders sold 85,996 shares of company stock worth $27,603,878 in the last quarter. 0.69% of the stock is currently owned by company 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.