Reliance, Inc. (NYSE:RS) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC decreased its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,719 shares of the industrial products company's stock after selling 1,668 shares during the period. Kennedy Capital Management LLC owned approximately 0.10% of Reliance worth $14,464,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RS. Wellington Management Group LLP raised its position in shares of Reliance by 10.4% during the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock valued at $398,381,000 after buying an additional 138,866 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Reliance by 6,311.2% during the 4th quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company's stock valued at $219,841,000 after purchasing an additional 803,730 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Reliance by 53.5% during the 4th quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock valued at $195,402,000 after buying an additional 252,955 shares during the period. Boston Partners boosted its stake in Reliance by 7.6% during the fourth quarter. Boston Partners now owns 716,280 shares of the industrial products company's stock worth $192,894,000 after buying an additional 50,528 shares during the period. Finally, Norges Bank bought a new position in Reliance during the fourth quarter valued at $186,255,000. 79.26% of the stock is owned by institutional investors.

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Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 90,230 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. KeyCorp lifted 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $319.00.

Reliance Stock Down 0.7 %

NYSE:RS traded down $2.06 during mid-day trading on Tuesday, reaching $276.27. The company's stock had a trading volume of 70,347 shares, compared to its average volume of 398,629. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $14.61 billion, a PE ratio of 17.89 and a beta of 0.83. The stock has a fifty day moving average of $285.68 and a 200-day moving average of $289.98. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $330.46.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. Equities research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $1.20 per share. This is a boost from Reliance's previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Friday, March 7th. Reliance's dividend payout ratio is 31.09%.

Reliance 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.