Natixis Advisors LLC Sells 2,430 Shares of Reliance, Inc. (NYSE:RS)

Natixis Advisors LLC lowered its stake in Reliance, Inc. (NYSE:RS - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,943 shares of the industrial products company's stock after selling 2,430 shares during the period. Natixis Advisors LLC's holdings in Reliance were worth $4,562,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. United Capital Management of KS Inc. boosted its stake in shares of Reliance by 4.5% during 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 in the last quarter. Hilton Capital Management LLC grew its stake in Reliance by 4.5% in the fourth quarter. Hilton Capital Management LLC now owns 5,976 shares of the industrial products company's stock worth $1,609,000 after purchasing an additional 257 shares during the period. Alpine Woods Capital Investors LLC raised its holdings in Reliance by 4.1% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 10,253 shares of the industrial products company's stock worth $2,761,000 after purchasing an additional 403 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Reliance by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,333 shares of the industrial products company's stock valued at $1,167,000 after buying an additional 55 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Reliance in the 4th quarter worth about $445,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Reliance

In related news, CEO Karla R. Lewis sold 31,136 shares of the company's stock in a transaction on 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 sale, the chief executive officer now owns 90,230 shares in the company, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

RS has been the topic of several research reports. Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group started coverage on Reliance in a research note on Monday, December 2nd. They issued a "neutral" rating and a $341.00 price target on the stock. Finally, KeyCorp boosted their target price on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Five 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 price target of $329.17.

Reliance Stock Up 0.4 %

Shares of Reliance stock traded up $1.19 on Wednesday, reaching $294.41. The company's stock had a trading volume of 283,109 shares, compared to its average volume of 370,013. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 19.07 and a beta of 0.87. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20. The firm's fifty day simple moving average is $288.63 and its two-hundred day simple moving average is $290.22.

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

Reliance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Friday, March 7th. This is an increase from Reliance's previous quarterly dividend of $1.10. 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.