KBC Group NV Acquires 56,933 Shares of Reliance, Inc. (NYSE:RS)

KBC Group NV raised its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 68.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,660 shares of the industrial products company's stock after purchasing an additional 56,933 shares during the quarter. KBC Group NV owned 0.26% of Reliance worth $40,391,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Trust Point Inc. lifted its position in shares of Reliance by 3.6% during the third quarter. Trust Point Inc. now owns 972 shares of the industrial products company's stock worth $281,000 after purchasing an additional 34 shares during the last quarter. National Bank of Canada FI lifted 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 period. Fulton Bank N.A. lifted its position in shares of Reliance by 3.1% during the 3rd 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 in the last quarter. Consolidated Planning Corp lifted its holdings in Reliance by 7.1% in the 2nd quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company's stock valued at $215,000 after purchasing an additional 50 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company's stock worth $72,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

Reliance Stock Up 0.1 %

RS traded up $0.36 on Friday, reaching $310.33. The company's stock had a trading volume of 318,556 shares, compared to its average volume of 320,676. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The business's 50 day moving average is $290.57 and its 200 day moving average is $289.83. Reliance, Inc. has a 1 year low of $261.77 and a 1 year high of $342.20. The stock has a market cap of $16.80 billion, a price-to-earnings 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 return on equity of 13.68% and a net margin of 7.42%. The company 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 business posted $5.00 EPS. The company's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Reliance, Inc. will post 16.45 EPS for the current fiscal year.

Reliance Dividend Announcement

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

Insider Transactions at Reliance

In related news, SVP William A. Smith II sold 6,500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 16,849 shares in the company, valued at $5,420,491.79. The trade was a 27.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The disclosure for this sale can be found here. Insiders sold a total of 17,832 shares of company stock valued at $5,595,881 over the last quarter. Company insiders own 0.69% of the company's stock.

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.