Fortem Financial Group LLC Has $208,000 Stock Holdings in Reliance, Inc. (NYSE:RS)

Fortem Financial Group LLC reduced its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 84.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 719 shares of the industrial products company's stock after selling 3,999 shares during the period. Fortem Financial Group LLC's holdings in Reliance were worth $208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RS. Toronto Dominion Bank grew its holdings in Reliance by 26.7% in the 3rd quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company's stock valued at $2,371,000 after buying an additional 1,729 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Reliance by 8.3% in the third quarter. Coldstream Capital Management Inc. now owns 8,423 shares of the industrial products company's stock valued at $2,443,000 after acquiring an additional 648 shares during the period. Vestcor Inc grew its stake in shares of Reliance by 10.0% in the third quarter. Vestcor Inc now owns 4,590 shares of the industrial products company's stock worth $1,327,000 after acquiring an additional 418 shares during the last quarter. Barclays PLC increased its position in Reliance by 10.7% during the third quarter. Barclays PLC now owns 76,131 shares of the industrial products company's stock worth $22,017,000 after acquiring an additional 7,373 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Reliance by 15.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 29,008 shares of the industrial products company's stock valued at $8,389,000 after purchasing an additional 3,784 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Price Performance

NYSE RS traded down $4.61 on Thursday, reaching $301.69. The company's stock had a trading volume of 354,065 shares, compared to its average volume of 320,043. The firm has a market cap of $16.33 billion, a PE ratio of 16.57 and a beta of 0.87. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. Reliance, Inc. has a 52 week low of $263.80 and a 52 week high of $342.20. The business has a 50-day moving average price of $303.42 and a 200 day moving average price of $292.38.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.66 by ($0.02). The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The company's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.00 earnings per share. Sell-side analysts expect that Reliance, Inc. will post 16.42 EPS for the current year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $1.10 dividend. The ex-dividend date was Friday, November 22nd. This represents a $4.40 annualized dividend and a dividend yield of 1.46%. Reliance's dividend payout ratio is presently 24.16%.

Analysts Set New Price Targets

Several research firms have issued reports on RS. KeyCorp decreased their price target on shares of Reliance from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group began coverage on Reliance in a research note on Monday, December 2nd. They set a "neutral" rating and a $341.00 price target on the stock. Finally, BMO Capital Markets reduced their price objective 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $328.83.

Insider Transactions at Reliance

In other news, Director Mark V. Kaminski sold 5,000 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total value of $1,490,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Karla R. Lewis sold 3,892 shares of Reliance stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the transaction, the chief executive officer now directly owns 85,117 shares of the company's stock, valued at $27,569,396.30. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,724 shares of company stock valued at $6,856,500. 0.69% of the stock is owned by insiders.

About Reliance

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.