Landscape Capital Management L.L.C. Buys 2,969 Shares of Reliance, Inc. (NYSE:RS)

Landscape Capital Management L.L.C. lifted its position in Reliance, Inc. (NYSE:RS - Free Report) by 226.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,279 shares of the industrial products company's stock after buying an additional 2,969 shares during the period. Landscape Capital Management L.L.C.'s holdings in Reliance were worth $1,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Reliance in the third quarter valued at $41,000. Versant Capital Management Inc raised its position in Reliance by 157.8% during the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company's stock valued at $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 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after acquiring an additional 304 shares in the last quarter. Providence First Trust Co acquired a new stake in Reliance during the 4th quarter worth about $90,000. Finally, UMB Bank n.a. boosted its position 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 acquiring an additional 104 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Price Performance

Shares of NYSE RS traded up $1.77 during trading on Friday, reaching $279.38. The company had a trading volume of 357,831 shares, compared to its average volume of 399,792. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $330.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The business's 50 day moving average price is $285.85 and its 200-day moving average price is $290.06. The stock has a market cap of $14.80 billion, a PE ratio of 18.09 and a beta of 0.83.

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

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $1.20 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Reliance's previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a yield of 1.72%. Reliance's dividend payout ratio (DPR) is 31.09%.

Insider Transactions at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction dated Monday, February 24th. The stock was 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 owns 90,230 shares of the company's stock, valued at $27,115,919.60. This trade represents a 25.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

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