27,304 Shares in Reliance, Inc. (NYSE:RS) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,304 shares of the industrial products company's stock, valued at approximately $7,352,000. Proficio Capital Partners LLC owned about 0.05% of Reliance at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Reliance during the 3rd quarter valued at approximately $41,000. Versant Capital Management Inc boosted 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 buying an additional 131 shares during the period. Brooklyn Investment Group bought a new position in Reliance during the third quarter valued at $78,000. UMB Bank n.a. raised its holdings in shares of Reliance by 41.8% in the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company's stock worth $95,000 after buying an additional 104 shares during the period. Finally, Abound Wealth Management increased its stake in Reliance by 35,700.0% in the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company's stock worth $96,000 after purchasing an additional 357 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RS has been the topic of several recent research reports. The Goldman Sachs Group started coverage on shares of Reliance in a report on Monday, December 2nd. They set a "neutral" rating and a $341.00 target price on the stock. KeyCorp increased their price objective on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, Wolfe Research raised Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $329.17.

Reliance Stock Performance

RS traded down $8.01 during trading on Tuesday, reaching $281.01. The company's stock had a trading volume of 568,126 shares, compared to its average volume of 433,586. 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 price is $284.56 and its 200-day moving average price is $289.90. The company has a market capitalization of $15.21 billion, a price-to-earnings ratio of 18.20 and a beta of 0.91. Reliance, Inc. has a 52-week low of $256.98 and a 52-week high of $342.20.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 EPS for the quarter, missing analysts' consensus estimates of $2.74 by ($0.52). The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. On average, equities analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $1.20 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.80 dividend on an annualized basis and a yield of 1.71%. This is a boost from Reliance's previous quarterly dividend of $1.10. Reliance's dividend payout ratio (DPR) is presently 31.09%.

Insider Transactions at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.69% 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.