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

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

Several other hedge funds have also bought and sold shares of RS. Coppell Advisory Solutions LLC grew its holdings in Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after buying an additional 128 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Reliance in the fourth quarter worth about $58,000. Quarry LP raised its stake in Reliance by 83.7% during the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after buying an additional 118 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Reliance by 1,216.0% during the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 304 shares in the last quarter. Finally, Providence First Trust Co acquired a new stake in shares of Reliance in the fourth quarter worth $90,000. Institutional investors own 79.26% of the company's stock.

Reliance Price Performance

Shares of Reliance stock traded down $0.93 during trading on Monday, reaching $303.07. 25,947 shares of the stock traded hands, compared to its average volume of 395,275. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The business has a fifty day simple moving average of $284.80 and a two-hundred day simple moving average of $290.04. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $326.87. The company has a market capitalization of $15.94 billion, a price-to-earnings ratio of 19.63 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 for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the firm earned $5.30 EPS. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. Sell-side analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.58%. Reliance's dividend payout ratio is currently 34.41%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Reliance

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

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.