Robeco Institutional Asset Management B.V. Sells 17,325 Shares of Reliance, Inc. (NYSE:RS)

Robeco Institutional Asset Management B.V. cut its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 77.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,992 shares of the industrial products company's stock after selling 17,325 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Reliance were worth $1,444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RS. Acadian Asset Management LLC grew its position in Reliance by 20.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company's stock worth $358,270,000 after purchasing an additional 184,509 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Reliance by 78.5% during the 2nd quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company's stock valued at $82,816,000 after acquiring an additional 127,422 shares during the period. International Assets Investment Management LLC grew its position in shares of Reliance by 27,269.0% during the 3rd quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company's stock valued at $32,453,000 after acquiring an additional 111,803 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Reliance by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company's stock valued at $333,809,000 after acquiring an additional 53,747 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Reliance by 13.3% during the 2nd quarter. Principal Financial Group Inc. now owns 394,793 shares of the industrial products company's stock valued at $112,753,000 after acquiring an additional 46,259 shares during the period. 79.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RS. BMO Capital Markets reduced their target price on shares of Reliance from $340.00 to $330.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. KeyCorp dropped their price target on shares of Reliance from $335.00 to $325.00 and set an "overweight" rating on the stock in a research note on Monday, October 14th. Finally, Wolfe Research cut shares of Reliance from a "peer perform" rating to an "underperform" rating and set a $262.00 target price on the stock. in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $326.40.

Reliance Stock Down 0.1 %

NYSE RS traded down $0.41 during trading hours on Friday, reaching $320.62. 287,534 shares of the company's stock traded hands, compared to its average volume of 315,138. Reliance, Inc. has a 52-week low of $261.77 and a 52-week high of $342.20. The firm has a market cap of $17.35 billion, a PE ratio of 17.61 and a beta of 0.85. The firm has a 50-day simple moving average of $287.35 and a 200 day simple moving average of $289.10. 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 results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.66 by ($0.02). The business had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The company's revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned $5.00 earnings per share. Sell-side analysts anticipate that Reliance, Inc. will post 16.65 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.37%. Reliance's dividend payout ratio is presently 24.16%.

Insider Transactions at Reliance

In related news, CFO Arthur Ajemyan sold 6,332 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Reliance news, CFO Arthur Ajemyan sold 6,332 shares of Reliance stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the transaction, the chief financial officer now owns 9,245 shares of the company's stock, valued at $2,941,574.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William A. Smith II sold 6,500 shares of Reliance stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the transaction, the senior vice president now directly owns 16,849 shares in the company, valued at $5,420,491.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,832 shares of company stock worth $5,595,881 over the last three months. 0.69% of the stock is currently owned by company 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.