Reliance, Inc. (NYSE:RS) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 478.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,694 shares of the industrial products company's stock after purchasing an additional 41,925 shares during the quarter. Assenagon Asset Management S.A. owned 0.09% of Reliance worth $13,650,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RS. Oak Thistle LLC raised its position in Reliance by 103.7% in the 4th quarter. Oak Thistle LLC now owns 2,123 shares of the industrial products company's stock valued at $572,000 after purchasing an additional 1,081 shares in the last quarter. Abound Wealth Management grew its holdings in Reliance by 35,700.0% during the 4th quarter. Abound Wealth Management now owns 358 shares of the industrial products company's stock worth $96,000 after acquiring an additional 357 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Reliance by 0.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,715 shares of the industrial products company's stock valued at $2,077,000 after purchasing an additional 49 shares during the last quarter. Fulton Bank N.A. raised its holdings in shares of Reliance by 11.3% in the 4th quarter. Fulton Bank N.A. now owns 1,747 shares of the industrial products company's stock valued at $470,000 after purchasing an additional 177 shares in the last quarter. Finally, Oliver Luxxe Assets LLC lifted its position in shares of Reliance by 5.0% during the 4th quarter. Oliver Luxxe Assets LLC now owns 21,176 shares of the industrial products company's stock worth $5,702,000 after purchasing an additional 1,002 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Trading Up 1.5 %

Shares of RS traded up $4.30 during mid-day trading on Friday, reaching $288.58. The company had a trading volume of 499,635 shares, compared to its average volume of 521,900. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20. The firm has a fifty day simple moving average of $292.92 and a 200-day simple moving average of $289.99. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 15.85 and a beta of 0.91. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm earned $5.00 earnings per share. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Reliance, Inc. will post 16.42 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $4.40 annualized dividend and a dividend yield of 1.52%. Reliance's dividend payout ratio (DPR) is presently 24.16%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RS. KeyCorp decreased their target price on Reliance from $335.00 to $325.00 and set an "overweight" rating for the company in a research note on Monday, October 14th. Wolfe Research upgraded shares of Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. BMO Capital Markets lowered their price objective on Reliance from $340.00 to $330.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Finally, The Goldman Sachs Group initiated coverage on Reliance in a report on Monday, December 2nd. They set a "neutral" rating and a $341.00 price objective on the stock. Five 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, Reliance currently has a consensus rating of "Hold" and an average price target of $328.83.

Insider Activity at Reliance

In other Reliance news, SVP William A. Smith II sold 6,500 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total value of $2,091,115.00. Following the transaction, the senior vice president now directly owns 16,849 shares of the company's stock, valued at $5,420,491.79. This represents a 27.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of Reliance stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,724 shares of company stock valued at $6,856,500. Corporate insiders own 0.69% of the company's stock.

Reliance 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.