Reliance, Inc. (NYSE:RS) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 17.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 772,008 shares of the industrial products company's stock after selling 160,775 shares during the quarter. LSV Asset Management owned 1.34% of Reliance worth $215,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC grew its position in shares of Reliance by 8.4% during the fourth quarter. Lindbrook Capital LLC now owns 480 shares of the industrial products company's stock valued at $134,000 after purchasing an additional 37 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Reliance by 11.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 444 shares of the industrial products company's stock valued at $116,000 after purchasing an additional 44 shares in the last quarter. Paulson Wealth Management Inc. grew its position in shares of Reliance by 3.3% during the third quarter. Paulson Wealth Management Inc. now owns 1,361 shares of the industrial products company's stock valued at $357,000 after purchasing an additional 44 shares in the last quarter. Arizona State Retirement System grew its position in shares of Reliance by 0.3% during the fourth quarter. Arizona State Retirement System now owns 16,094 shares of the industrial products company's stock valued at $4,501,000 after purchasing an additional 54 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its position in shares of Reliance by 0.3% during the third quarter. Robertson Stephens Wealth Management LLC now owns 17,250 shares of the industrial products company's stock valued at $4,523,000 after purchasing an additional 59 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RS has been the topic of several analyst reports. BMO Capital Markets reduced their price objective on Reliance from $355.00 to $345.00 and set an "outperform" rating on the stock in a research note on Friday, April 26th. Citigroup cut Reliance from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $280.00 to $380.00 in a research note on Thursday, April 11th. KeyCorp boosted 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. Finally, StockNews.com cut Reliance from a "buy" rating to a "hold" rating in a research note on Friday, April 26th.

Reliance Stock Down 0.3 %

Reliance stock traded down $0.94 during mid-day trading on Friday, reaching $289.78. 249,162 shares of the company were exchanged, compared to its average volume of 278,406. The business has a fifty day moving average of $320.99 and a 200 day moving average of $293.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74. The firm has a market cap of $16.64 billion, a P/E ratio of 13.53, a PEG ratio of 5.08 and a beta of 0.92. Reliance, Inc. has a 12-month low of $229.12 and a 12-month high of $342.20.

Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share for the quarter, missing analysts' consensus estimates of $5.51 by ($0.21). The company had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.76 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. The firm's quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.37 EPS. Research analysts anticipate that Reliance, Inc. will post 19.6 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 23rd. Reliance's payout ratio is presently 20.55%.

Insider Transactions at Reliance

In other news, CEO Karla R. Lewis sold 650 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $322.96, for a total transaction of $209,924.00. Following the transaction, the chief executive officer now directly owns 83,884 shares of the company's stock, valued at $27,091,176.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Karla R. Lewis sold 650 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $322.96, for a total value of $209,924.00. Following the transaction, the chief executive officer now directly owns 83,884 shares of the company's stock, valued at approximately $27,091,176.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Karla R. Lewis sold 42,346 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $318.97, for a total value of $13,507,103.62. Following the completion of the transaction, the chief executive officer now directly owns 84,534 shares in the company, valued at $26,963,809.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,996 shares of company stock valued at $29,052,928. Corporate insiders own 0.69% of the company's stock.

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.