Siemens Fonds Invest GmbH Takes $1.12 Million Position in Reliance, Inc. (NYSE:RS)

Siemens Fonds Invest GmbH purchased a new stake in Reliance, Inc. (NYSE:RS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,163 shares of the industrial products company's stock, valued at approximately $1,121,000.

Several other institutional investors have also made changes to their positions in the stock. Coppell Advisory Solutions LLC raised 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 acquiring an additional 128 shares in the last quarter. Transce3nd LLC bought a new position in shares of Reliance in the fourth quarter worth $58,000. Quarry LP raised its stake in Reliance by 83.7% in the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 118 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Reliance by 1,216.0% in the fourth 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 bought a new stake in Reliance during the fourth quarter worth about $90,000. 79.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Reliance

In other 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 transaction of $9,356,990.72. Following the sale, the chief executive officer now directly owns 90,230 shares of the company's stock, valued at approximately $27,115,919.60. This trade represents a 25.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.

Reliance Price Performance

Shares of RS stock traded down $4.98 on Thursday, hitting $294.81. 88,811 shares of the company's stock were exchanged, compared to its average volume of 409,238. The company has a 50 day moving average of $286.16 and a 200 day moving average of $290.32. The stock has a market cap of $15.50 billion, a P/E ratio of 19.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the firm earned $5.30 earnings per share. The business's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities research analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given 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 1.63%. Reliance's dividend payout ratio is currently 34.41%.

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.