Numerai GP LLC Raises Holdings in Reliance, Inc. (NYSE:RS)

Numerai GP LLC grew its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 615.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,884 shares of the industrial products company's stock after purchasing an additional 5,062 shares during the period. Numerai GP LLC's holdings in Reliance were worth $1,584,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RS. Coppell Advisory Solutions LLC grew its holdings in shares of Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after acquiring an additional 128 shares during the period. Transce3nd LLC acquired a new stake in shares of Reliance in the 4th quarter worth approximately $58,000. Quarry LP grew its holdings in shares of Reliance by 83.7% in the 4th quarter. Quarry LP now owns 259 shares of the industrial products company's stock worth $70,000 after acquiring an additional 118 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after acquiring an additional 304 shares during the period. Finally, Providence First Trust Co acquired a new stake in shares of Reliance in the 4th quarter worth approximately $90,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Insider Activity at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of the firm's stock in a transaction on Monday, February 24th. The stock was 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 owns 90,230 shares in the company, valued at $27,115,919.60. This trade represents a 25.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by corporate insiders.

Reliance Price Performance

RS stock traded up $3.23 on Friday, reaching $303.96. The company had a trading volume of 303,384 shares, compared to its average volume of 396,589. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $326.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The company's fifty day moving average is $284.80 and its 200 day moving average is $290.02. The company has a market cap of $15.98 billion, a P/E ratio of 19.69 and a beta of 0.91.

Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the company earned $5.30 EPS. Reliance's revenue was down 4.4% on a year-over-year basis. On average, research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The business 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 $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, May 23rd. Reliance's payout ratio is currently 34.41%.

Analyst Ratings Changes

Separately, KeyCorp upped their price target on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $319.00.

Reliance Company 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.