Reliance, Inc. (NYSE:RS) Holdings Decreased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,577 shares of the industrial products company's stock after selling 2,774 shares during the period. Brandywine Global Investment Management LLC owned 0.20% of Reliance worth $29,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RS. Proficio Capital Partners LLC bought a new stake in Reliance during the 4th quarter valued at $7,352,000. Toronto Dominion Bank increased its holdings in shares of Reliance by 26.7% during the third 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 during the period. Pure Financial Advisors LLC raised its stake in shares of Reliance by 232.9% during the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company's stock valued at $2,499,000 after purchasing an additional 6,493 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Reliance in the third quarter worth about $4,600,000. Finally, Nordea Investment Management AB lifted its holdings in Reliance by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 4,951 shares of the industrial products company's stock worth $1,332,000 after purchasing an additional 489 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the sale, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Reliance Price Performance

Shares of RS traded down $11.00 during mid-day trading on Friday, hitting $264.32. The company's stock had a trading volume of 660,220 shares, compared to its average volume of 392,353. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The firm has a 50-day moving average price of $288.35 and a 200 day moving average price of $290.63. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of 17.12 and a beta of 0.87.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly 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). The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.04 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. On average, research analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.82%. This is an increase from Reliance's previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 7th. Reliance's dividend payout ratio is currently 31.09%.

Analyst Ratings Changes

RS has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. KeyCorp raised their price objective on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.