Royce & Associates LP Sells 2,443 Shares of Reliance, Inc. (NYSE:RS)

Royce & Associates LP decreased its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,958 shares of the industrial products company's stock after selling 2,443 shares during the period. Royce & Associates LP owned approximately 0.31% of Reliance worth $48,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in Reliance in the second quarter worth approximately $28,000. UMB Bank n.a. grew its holdings in shares of Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company's stock worth $72,000 after acquiring an additional 53 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company's stock worth $76,000 after acquiring an additional 41 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Reliance during the first quarter worth $86,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Reliance during the second quarter valued at $117,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Up 0.2 %

Shares of RS stock traded up $0.47 on Friday, hitting $310.44. The company's stock had a trading volume of 318,556 shares, compared to its average volume of 320,676. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 17.03 and a beta of 0.85. Reliance, Inc. has a fifty-two week low of $261.77 and a fifty-two week high of $342.20. The firm's fifty day moving average price is $290.57 and its 200-day moving average price is $289.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. Reliance's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.00 earnings per share. Research analysts anticipate that Reliance, Inc. will post 16.45 EPS for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, November 22nd. Reliance's payout ratio is currently 24.16%.

Wall Street Analyst Weigh In

RS has been the subject of several recent analyst reports. Wolfe Research cut shares of Reliance from a "peer perform" rating to an "underperform" rating and set a $262.00 target price for the company. in a report on Friday, July 26th. BMO Capital Markets decreased their price objective on shares of Reliance from $340.00 to $330.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Finally, KeyCorp lowered their price objective on shares of Reliance from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Reliance presently has a consensus rating of "Hold" and a consensus target price of $326.40.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 6,332 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the sale, the chief financial officer now directly owns 9,245 shares in the company, valued at approximately $2,941,574.10. The trade was a 40.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 6,500 shares of Reliance stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the sale, the senior vice president now owns 16,849 shares in the company, valued at $5,420,491.79. This represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,832 shares of company stock valued at $5,595,881 in the last ninety days. Company insiders own 0.69% of the company's stock.

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.