BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $8.62 Million Holdings in Reliance, Inc. (NYSE:RS)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 10.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 25,793 shares of the industrial products company's stock after selling 3,063 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Reliance were worth $8,620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RS. Riverview Trust Co acquired a new position in shares of Reliance in the 1st quarter valued at approximately $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Reliance in the 1st quarter valued at approximately $30,000. Partnership Wealth Management LLC acquired a new position in shares of Reliance in the 4th quarter valued at approximately $43,000. Rise Advisors LLC acquired a new position in shares of Reliance in the 1st quarter valued at approximately $49,000. Finally, Rational Advisors LLC raised its position in shares of Reliance by 33.6% in the 1st quarter. Rational Advisors LLC now owns 159 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 40 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RS has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price target on Reliance from $355.00 to $345.00 and set an "outperform" rating for the company in a report on Friday, April 26th. Citigroup downgraded Reliance from a "buy" rating to a "neutral" rating and boosted their price target for the company from $280.00 to $380.00 in a report on Thursday, April 11th. KeyCorp lowered their price target on Reliance from $341.00 to $325.00 and set an "overweight" rating for the company in a report on Wednesday, July 3rd. Bank of America lowered their price target on Reliance from $340.00 to $335.00 and set a "neutral" rating for the company in a report on Wednesday, June 26th. Finally, StockNews.com downgraded Reliance from a "buy" rating to a "hold" rating in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Reliance currently has a consensus rating of "Hold" and a consensus target price of $346.25.

Reliance Stock Performance

Shares of NYSE:RS traded down $0.79 on Thursday, hitting $307.96. The company's stock had a trading volume of 355,063 shares, compared to its average volume of 305,851. Reliance, Inc. has a 12 month low of $237.14 and a 12 month high of $342.20. The company has a market capitalization of $17.69 billion, a price-to-earnings ratio of 14.42 and a beta of 0.86. The stock's 50-day moving average is $290.30 and its two-hundred day moving average is $301.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.21). The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.76 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. The company's revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $6.37 EPS. On average, equities research analysts forecast that Reliance, Inc. will post 18.63 EPS for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were issued a $1.10 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.43%. Reliance's dividend payout ratio (DPR) is 20.55%.

Insider Activity

In other news, Director James Donald Hoffman sold 5,000 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $290.04, for a total transaction of $1,450,200.00. Following the completion of the sale, the director now directly owns 44,042 shares of the company's stock, valued at $12,773,941.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director James Donald Hoffman sold 5,000 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $290.04, for a total transaction of $1,450,200.00. Following the completion of the sale, the director now directly owns 44,042 shares of the company's stock, valued at $12,773,941.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Stephen Paul Koch sold 20,421 shares of the company's stock in a transaction on Friday, May 31st. The shares were sold at an average price of $295.38, for a total value of $6,031,954.98. Following the sale, the chief operating officer now directly owns 7,552 shares of the company's stock, valued at $2,230,709.76. The disclosure for this sale can be found here. Insiders sold a total of 40,421 shares of company stock worth $11,866,855 over the last 90 days. 0.69% of the stock is currently owned by company insiders.

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.