Two Sigma Securities LLC decreased its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 93.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in RS. Coppell Advisory Solutions LLC increased its holdings in shares of Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after buying an additional 128 shares during the last quarter. Versant Capital Management Inc increased its stake in Reliance by 157.8% during the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company's stock worth $58,000 after acquiring an additional 131 shares during the last quarter. Transce3nd LLC purchased a new position in shares of Reliance in the 4th quarter worth about $58,000. Jones Financial Companies Lllp lifted its stake 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 valued at $89,000 after purchasing an additional 304 shares in the last quarter. Finally, Providence First Trust Co purchased a new stake in shares of Reliance during the 4th quarter worth about $90,000. Hedge funds and other institutional investors own 79.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on RS shares. Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. KeyCorp lifted their price target on shares of Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $319.00.
Read Our Latest Report on Reliance
Insiders Place Their Bets
In other Reliance 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 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. This trade represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by corporate insiders.
Reliance Stock Down 0.3 %
NYSE RS traded down $0.77 on Monday, hitting $296.45. 23,243 shares of the stock traded hands, compared to its average volume of 398,024. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $282.55 and a 200 day moving average of $289.48. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $326.87. The company has a market capitalization of $15.68 billion, a P/E ratio of 19.21 and a beta of 0.91.
Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.11. The firm had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the business posted $5.30 earnings per share. As a group, analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.
Reliance Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $1.20 dividend. The ex-dividend date is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.62%. Reliance's dividend payout ratio is currently 34.41%.
About Reliance
(
Free Report)
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.
Recommended Stories
Before you consider Reliance, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reliance wasn't on the list.
While Reliance currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
