Reliance, Inc. (NYSE:RS) Holdings Raised by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,709,737 shares of the industrial products company's stock after purchasing an additional 319,576 shares during the period. Price T Rowe Associates Inc. MD owned about 6.85% of Reliance worth $998,886,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Transce3nd LLC acquired a new position in Reliance during the 4th quarter valued at approximately $58,000. Versant Capital Management Inc increased its position in Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company's stock worth $58,000 after buying an additional 131 shares during the period. Jones Financial Companies Lllp lifted its stake in Reliance by 1,216.0% in the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $89,000 after buying an additional 304 shares during the last quarter. Providence First Trust Co acquired a new position in shares of Reliance during the fourth quarter valued at $90,000. Finally, UMB Bank n.a. grew its position in shares of Reliance by 41.8% during the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company's stock worth $95,000 after acquiring an additional 104 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RS. 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 report on Monday, February 24th. Wolfe Research raised Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $319.00.

Insider Activity

In other news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 90,230 shares of the company's stock, valued at $27,115,919.60. The trade was a 25.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.35% of the stock is owned by insiders.

Reliance Price Performance

RS stock traded down $0.62 during trading on Friday, hitting $284.54. The company had a trading volume of 301,908 shares, compared to its average volume of 400,172. The business has a 50 day moving average of $283.42 and a 200 day moving average of $289.55. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 18.43 and a beta of 0.83. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87.

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

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, May 23rd. Reliance's payout ratio is currently 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.