Capital Fund Management S.A. bought a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 29,447 shares of the industrial products company's stock, valued at approximately $7,929,000. Capital Fund Management S.A. owned 0.05% of Reliance as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Reliance in the 4th quarter valued at approximately $7,352,000. Toronto Dominion Bank grew its holdings in shares of 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 acquiring an additional 1,729 shares in the last quarter. Pure Financial Advisors LLC increased its stake in shares of 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 acquiring an additional 6,493 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Reliance during the third quarter worth $4,600,000. Finally, Nordea Investment Management AB boosted its position in Reliance by 11.0% during the fourth quarter. Nordea Investment Management AB now owns 4,951 shares of the industrial products company's stock valued at $1,332,000 after purchasing an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.
Reliance Stock Down 0.5 %
Shares of NYSE RS traded down $1.48 during mid-day trading on Tuesday, reaching $276.85. 163,647 shares of the company traded hands, compared to its average volume of 399,882. The company's fifty day moving average is $285.52 and its two-hundred day moving average is $289.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. The stock has a market cap of $14.64 billion, a PE ratio of 17.93 and a beta of 0.83.
Reliance (NYSE:RS - Get Free Report) last announced its quarterly 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 net margin of 6.33% and a return on equity of 11.87%. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.04 billion. On average, analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current year.
Reliance Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $1.20 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Reliance's previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.73%. Reliance's payout ratio is presently 31.09%.
Wall Street Analyst Weigh In
RS has been the topic of several research reports. KeyCorp upped their target price on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Reliance presently has an average rating of "Hold" and an average target price of $319.00.
Get Our Latest Stock Analysis on RS
Insider Buying and Selling
In other news, CEO Karla R. Lewis sold 31,136 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 90,230 shares in the company, valued at approximately $27,115,919.60. This trade represents a 25.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is owned by insiders.
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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