Dearborn Partners LLC Increases Stock Holdings in Reliance, Inc. (NYSE:RS)

Dearborn Partners LLC raised its position in Reliance, Inc. (NYSE:RS - Free Report) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,406 shares of the industrial products company's stock after purchasing an additional 3,419 shares during the quarter. Dearborn Partners LLC owned 0.16% of Reliance worth $24,989,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Trust Point Inc. lifted its position in Reliance by 3.6% during the 3rd quarter. Trust Point Inc. now owns 972 shares of the industrial products company's stock worth $281,000 after acquiring an additional 34 shares during the period. National Bank of Canada FI boosted its holdings in Reliance by 17.9% in the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company's stock valued at $76,000 after acquiring an additional 41 shares during the last quarter. Fulton Bank N.A. raised its holdings in Reliance by 3.1% in the third quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company's stock valued at $454,000 after buying an additional 47 shares during the period. Consolidated Planning Corp boosted its position in Reliance by 7.1% during the 2nd quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company's stock worth $215,000 after purchasing an additional 50 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company's stock valued at $72,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Insider Activity

In related news, Director Mark V. Kaminski sold 5,000 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $298.01, for a total value of $1,490,050.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 6,500 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total value of $2,091,115.00. Following the sale, the senior vice president now owns 16,849 shares in the company, valued at approximately $5,420,491.79. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,832 shares of company stock valued at $5,595,881. 0.69% of the stock is owned by insiders.

Reliance Stock Up 0.1 %

Shares of NYSE RS traded up $0.41 during mid-day trading on Friday, reaching $310.38. The company had a trading volume of 165,590 shares, compared to its average volume of 319,987. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. Reliance, Inc. has a twelve month low of $261.77 and a twelve month high of $342.20. The stock's 50 day moving average is $290.57 and its 200-day moving average is $289.83. The stock has a market capitalization of $16.80 billion, a PE ratio of 17.03 and a beta of 0.85.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) 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 business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the firm earned $5.00 EPS. The company's quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Reliance, Inc. will post 16.45 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, November 22nd. Reliance's payout ratio is 24.16%.

Analysts Set New Price Targets

RS has been the subject of a number of analyst reports. KeyCorp reduced their price target on Reliance from $335.00 to $325.00 and set an "overweight" rating for the company in a report on Monday, October 14th. Wolfe Research lowered Reliance from a "peer perform" rating to an "underperform" rating and set a $262.00 price target for the company. in a research report on Friday, July 26th. Finally, BMO Capital Markets cut their target price on Reliance from $340.00 to $330.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $326.40.

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.