B. Metzler seel. Sohn & Co. AG Buys 2,556 Shares of Reliance, Inc. (NYSE:RS)

B. Metzler seel. Sohn & Co. AG increased its position in Reliance, Inc. (NYSE:RS - Free Report) by 116.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,748 shares of the industrial products company's stock after purchasing an additional 2,556 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Reliance were worth $1,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Reliance by 10.4% during the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock worth $398,381,000 after acquiring an additional 138,866 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Reliance by 38.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,697 shares of the industrial products company's stock worth $9,343,000 after purchasing an additional 9,642 shares during the last quarter. Allstate Corp acquired a new stake in shares of Reliance during the fourth quarter worth $451,000. DnB Asset Management AS increased its holdings in Reliance by 2.4% in the fourth quarter. DnB Asset Management AS now owns 12,191 shares of the industrial products company's stock valued at $3,283,000 after purchasing an additional 288 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in Reliance in the fourth quarter valued at about $282,000. 79.26% of the stock is owned by institutional investors.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the company's stock in a transaction that occurred 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 owns 90,230 shares in the company, valued at $27,115,919.60. This represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by company insiders.

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Reliance Stock Up 2.8 %

Shares of Reliance stock traded up $7.47 during trading on Tuesday, reaching $270.86. The stock had a trading volume of 105,249 shares, compared to its average volume of 461,195. 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 company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 17.54 and a beta of 0.83. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $341.89. The stock has a fifty day moving average price of $287.85 and a two-hundred day moving average price of $290.64.

Reliance (NYSE:RS - Get Free Report) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $2.22 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 analyst estimates of $3.04 billion. Sell-side analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Reliance's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 7th. Reliance's dividend payout ratio is presently 31.09%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. KeyCorp raised their target price on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Reliance presently has a consensus rating of "Hold" and a consensus target price of $329.17.

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.