Nomura Asset Management Co. Ltd. Has $7.51 Million Holdings in Reliance, Inc. (NYSE:RS)

Nomura Asset Management Co. Ltd. lowered its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,874 shares of the industrial products company's stock after selling 1,134 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.05% of Reliance worth $7,505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC raised its position in shares of Reliance by 4.1% during the 4th quarter. Quent Capital LLC now owns 941 shares of the industrial products company's stock worth $253,000 after buying an additional 37 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Reliance by 0.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company's stock valued at $3,002,000 after acquiring an additional 39 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Reliance by 0.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,715 shares of the industrial products company's stock valued at $2,077,000 after purchasing an additional 49 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Reliance by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,333 shares of the industrial products company's stock worth $1,167,000 after acquiring an additional 55 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Reliance by 4.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 1,234 shares of the industrial products company's stock worth $332,000 after purchasing an additional 56 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

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Reliance Stock Performance

RS traded down $11.00 during trading on Friday, reaching $264.32. 660,220 shares of the company's stock were exchanged, compared to its average volume of 393,191. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20. The company has a market capitalization of $14.00 billion, a P/E ratio of 17.12 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. The business has a 50 day moving average price of $288.35 and a 200 day moving average price of $290.70.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. As a group, analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal 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 issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, March 7th. This is an increase from Reliance's previous quarterly dividend of $1.10. Reliance's dividend payout ratio is currently 31.09%.

Insider Activity

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the 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 represents a 25.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wolfe Research raised Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. KeyCorp raised their price target on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Reliance presently has an average rating of "Hold" and a consensus price target of $329.17.

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.