Mirabella Financial Services LLP Invests $1.38 Million in Reliance, Inc. (NYSE:RS)

Mirabella Financial Services LLP acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,108 shares of the industrial products company's stock, valued at approximately $1,376,000.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 131 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Reliance by 1,216.0% during the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after purchasing an additional 304 shares in the last quarter. Providence First Trust Co bought a new position in shares of Reliance during the fourth quarter worth approximately $90,000. UMB Bank n.a. raised its position in shares of Reliance by 41.8% in the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company's stock valued at $95,000 after buying an additional 104 shares in the last quarter. Finally, Abound Wealth Management boosted its stake in shares of Reliance by 35,700.0% in the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company's stock valued at $96,000 after buying an additional 357 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RS shares. Wolfe Research upgraded 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 shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $319.00.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the firm's 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 sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Reliance Stock Down 0.2 %

Shares of NYSE RS traded down $0.62 during mid-day trading on Friday, reaching $284.54. 301,908 shares of the company's stock traded hands, compared to its average volume of 402,595. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $326.87. The stock has a market cap of $15.05 billion, a P/E ratio of 18.43 and a beta of 0.83. The business has a 50-day simple moving average of $283.72 and a 200 day simple moving average of $289.53.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, May 23rd. Reliance's dividend payout ratio (DPR) is presently 31.09%.

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.