Barclays PLC Purchases 7,373 Shares of Reliance, Inc. (NYSE:RS)

Barclays PLC lifted its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 10.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,131 shares of the industrial products company's stock after buying an additional 7,373 shares during the quarter. Barclays PLC owned about 0.14% of Reliance worth $22,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RS. Nomura Asset Management Co. Ltd. raised its position in shares of Reliance by 15.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 29,008 shares of the industrial products company's stock valued at $8,389,000 after buying an additional 3,784 shares in the last quarter. XTX Topco Ltd increased its stake in Reliance by 142.1% during the 3rd quarter. XTX Topco Ltd now owns 5,860 shares of the industrial products company's stock worth $1,695,000 after acquiring an additional 3,440 shares during the period. EP Wealth Advisors LLC acquired a new position in Reliance in the 3rd quarter valued at $336,000. Kovitz Investment Group Partners LLC raised its holdings in Reliance by 12.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 6,258 shares of the industrial products company's stock valued at $1,904,000 after acquiring an additional 703 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Reliance during the 3rd quarter valued at $2,824,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Price Performance

NYSE:RS traded down $9.27 during trading hours on Friday, hitting $292.16. The company's stock had a trading volume of 263,894 shares, compared to its average volume of 296,988. Reliance, Inc. has a twelve month low of $264.99 and a twelve month high of $342.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The stock has a fifty day simple moving average of $303.64 and a 200-day simple moving average of $292.23. The company has a market capitalization of $15.81 billion, a P/E ratio of 16.04 and a beta of 0.87.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts' consensus estimates of $3.66 by ($0.02). The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The company's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.00 earnings per share. On average, analysts anticipate that Reliance, Inc. will post 16.42 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a dividend of $1.10 per share. The ex-dividend date was Friday, November 22nd. This represents a $4.40 annualized dividend and a dividend yield of 1.51%. Reliance's dividend payout ratio (DPR) is presently 24.16%.

Insider Activity

In related news, CEO Karla R. Lewis sold 3,892 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the sale, the chief executive officer now owns 85,117 shares of the company's stock, valued at $27,569,396.30. The trade was a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $298.01, for a total value of $1,490,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,724 shares of company stock worth $6,856,500. Insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. KeyCorp decreased their price target on Reliance from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Monday, October 14th. BMO Capital Markets decreased their target price on shares of Reliance from $340.00 to $330.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Finally, The Goldman Sachs Group began coverage on shares of Reliance in a research report on Monday, December 2nd. They issued a "neutral" rating and a $341.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Reliance currently has an average rating of "Hold" and an average price target of $328.83.

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.