Boston Partners grew its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 716,280 shares of the industrial products company's stock after buying an additional 50,528 shares during the quarter. Boston Partners owned 1.32% of Reliance worth $192,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new stake in Reliance in the 3rd quarter worth $41,000. Versant Capital Management Inc increased its stake in Reliance by 157.8% in the 4th 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 in the last quarter. Brooklyn Investment Group purchased a new stake in Reliance in the 3rd quarter worth $78,000. Jones Financial Companies Lllp increased its stake in Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after buying an additional 304 shares in the last quarter. Finally, Providence First Trust Co purchased a new stake in Reliance in the 4th quarter worth $90,000. 79.26% of the stock is owned by institutional investors.
Insider Activity at Reliance
In other news, CEO Karla R. Lewis sold 31,136 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $300.52, for a total value 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 $27,115,919.60. This represents a 25.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by corporate insiders.
Reliance Price Performance
Shares of Reliance stock traded down $4.73 during trading hours on Friday, reaching $276.77. The stock had a trading volume of 3,081,930 shares, compared to its average volume of 369,291. The stock's 50 day moving average is $288.07 and its 200 day moving average is $289.85. The firm has a market capitalization of $14.66 billion, a PE ratio of 17.93 and a beta of 0.87. Reliance, Inc. has a twelve month low of $256.98 and a twelve month high of $342.20. 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 (NYSE:RS - Get Free Report) last released its earnings results 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). Reliance had a return on equity of 11.87% and a net margin of 6.33%. The company had revenue of $3.13 billion for the quarter, compared to analysts' expectations of $3.04 billion. Equities analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.
Reliance Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Reliance's previous quarterly dividend of $1.10. Reliance's dividend payout ratio is currently 31.09%.
Wall Street Analyst Weigh In
RS has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Reliance in a research report on Monday, December 2nd. They set a "neutral" rating and a $341.00 price objective for the company. Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Finally, KeyCorp raised their price objective on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $329.17.
Get Our Latest Analysis on RS
About Reliance
(
Free Report)
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.
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