United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes Position in Reliance, Inc. (NYSE:RS)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 900 shares of the industrial products company's stock, valued at approximately $242,000.

Several other hedge funds have also added to or reduced their stakes in RS. Proficio Capital Partners LLC purchased a new position in shares of Reliance in the 4th quarter worth about $7,352,000. Toronto Dominion Bank increased its stake in Reliance by 26.7% during the 3rd quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company's stock valued at $2,371,000 after purchasing an additional 1,729 shares in the last quarter. Pure Financial Advisors LLC raised its holdings in Reliance by 232.9% in the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company's stock worth $2,499,000 after buying an additional 6,493 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Reliance in the third quarter worth approximately $4,600,000. Finally, Swedbank AB lifted its position in Reliance by 38.4% in the 3rd quarter. Swedbank AB now owns 42,881 shares of the industrial products company's stock valued at $12,402,000 after acquiring an additional 11,887 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RS shares. The Goldman Sachs Group assumed coverage on Reliance in a research note on Monday, December 2nd. They set a "neutral" rating and a $341.00 price objective for the company. Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Finally, KeyCorp upped their price target on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $329.17.

Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of Reliance 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is owned by insiders.

Reliance Price Performance

RS opened at $288.72 on Tuesday. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 18.70 and a beta of 0.87. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a 12-month low of $256.98 and a 12-month high of $342.20. The business's fifty day simple moving average is $289.02 and its 200-day simple moving average is $290.74.

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

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.66%. This is a positive change from Reliance's previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 7th. Reliance's dividend payout ratio is presently 31.09%.

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.