O Shaughnessy Asset Management LLC Buys 9,642 Shares of Reliance, Inc. (NYSE:RS)

O Shaughnessy Asset Management LLC lifted its position in Reliance, Inc. (NYSE:RS - Free Report) by 38.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,697 shares of the industrial products company's stock after acquiring an additional 9,642 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.06% of Reliance worth $9,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP acquired a new position in Reliance in the third quarter valued at about $41,000. Versant Capital Management Inc lifted its holdings in shares of Reliance by 157.8% during the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 131 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 304 shares during the period. Providence First Trust Co bought a new stake in Reliance during the 4th quarter worth approximately $90,000. Finally, UMB Bank n.a. raised its holdings in Reliance by 41.8% during the 4th quarter. UMB Bank n.a. now owns 353 shares of the industrial products company's stock worth $95,000 after buying an additional 104 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Stock Down 6.2 %

Shares of RS stock traded down $18.24 during trading on Thursday, reaching $275.66. The company's stock had a trading volume of 409,213 shares, compared to its average volume of 389,699. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The business has a fifty day moving average price of $289.13 and a 200-day moving average price of $290.84. The company has a market cap of $14.60 billion, a price-to-earnings ratio of 17.85 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.

Remove Ads

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

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $1.20 per share. The ex-dividend date was Friday, March 7th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.74%. This is a boost from Reliance's previous quarterly dividend of $1.10. Reliance's dividend payout ratio is currently 31.09%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CEO Karla R. Lewis sold 31,136 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the sale, the chief executive officer now directly owns 90,230 shares of the company's stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by insiders.

Reliance Company 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.