Reliance, Inc. (NYSE:RS) Shares Sold by Two Sigma Securities LLC

Two Sigma Securities LLC lowered its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 93.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 978 shares of the industrial products company's stock after selling 14,220 shares during the quarter. Two Sigma Securities LLC's holdings in Reliance were worth $263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC grew its stake in shares of Reliance by 7.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 319,609 shares of the industrial products company's stock worth $86,058,000 after buying an additional 20,774 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Reliance by 9.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,866 shares of the industrial products company's stock valued at $1,849,000 after purchasing an additional 608 shares during the period. Coppell Advisory Solutions LLC grew its stake in 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 in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Reliance by 48.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,698 shares of the industrial products company's stock worth $726,000 after purchasing an additional 885 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Reliance by 23.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 633,578 shares of the industrial products company's stock valued at $170,598,000 after buying an additional 121,078 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Stock Performance

Shares of NYSE:RS traded up $6.69 during trading on Friday, hitting $297.00. 214,820 shares of the stock traded hands, compared to its average volume of 399,498. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $282.55 and a two-hundred day moving average price of $289.52. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $326.87. The company has a market cap of $15.71 billion, a price-to-earnings ratio of 19.24 and a beta of 0.91.

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

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid 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 of this dividend is Friday, May 23rd. Reliance's payout ratio is 34.41%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RS shares. KeyCorp upped their price objective on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $319.00.

Insider Activity

In related news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the sale, 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company's stock.

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.