Lingohr Asset Management GmbH Has $379,000 Stake in Reliance, Inc. (NYSE:RS)

Lingohr Asset Management GmbH lessened its position in Reliance, Inc. (NYSE:RS - Free Report) by 38.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,424 shares of the industrial products company's stock after selling 885 shares during the period. Lingohr Asset Management GmbH's holdings in Reliance were worth $379,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Xponance Inc. increased its stake in shares of Reliance by 5.3% in the 4th quarter. Xponance Inc. now owns 9,200 shares of the industrial products company's stock valued at $2,477,000 after buying an additional 466 shares during the period. Boston Partners increased its position in Reliance by 7.6% in the fourth quarter. Boston Partners now owns 716,280 shares of the industrial products company's stock worth $192,894,000 after purchasing an additional 50,528 shares during the period. Generali Asset Management SPA SGR bought a new stake in Reliance during the 4th quarter worth about $2,773,000. Envestnet Portfolio Solutions Inc. lifted its position in Reliance by 12.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,289 shares of the industrial products company's stock valued at $347,000 after purchasing an additional 145 shares during the period. Finally, United Capital Management of KS Inc. boosted its stake in shares of Reliance by 4.5% in the 4th quarter. United Capital Management of KS Inc. now owns 32,114 shares of the industrial products company's stock valued at $8,647,000 after purchasing an additional 1,377 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

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Insider Activity

In related news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RS shares. Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. KeyCorp lifted their price objective on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Finally, The Goldman Sachs Group assumed coverage on Reliance in a research note on Monday, December 2nd. They issued a "neutral" rating and a $341.00 target price on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $329.17.

Reliance Stock Up 3.6 %

RS traded up $10.12 during trading on Monday, reaching $287.68. The company had a trading volume of 449,916 shares, compared to its average volume of 369,616. The company has a market cap of $15.24 billion, a P/E ratio of 18.63 and a beta of 0.87. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The business's fifty day moving average price is $288.33 and its 200 day moving average price is $290.08.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.74 by ($0.52). The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.04 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. Equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $1.20 per share. This is a positive change from Reliance's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.80 annualized dividend and a dividend yield of 1.67%. Reliance's 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.