Russell Investments Group Ltd. Has $19.28 Million Stock Position in Reliance, Inc. (NYSE:RS)

Russell Investments Group Ltd. trimmed its position in Reliance, Inc. (NYSE:RS - Free Report) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,663 shares of the industrial products company's stock after selling 4,170 shares during the period. Russell Investments Group Ltd. owned 0.13% of Reliance worth $19,277,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Reliance by 10.4% in the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock worth $398,381,000 after buying an additional 138,866 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Reliance by 6,311.2% in the 4th quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company's stock valued at $219,841,000 after acquiring an additional 803,730 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Reliance by 53.5% in the 4th quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock worth $195,402,000 after purchasing an additional 252,955 shares during the period. Boston Partners grew its position in Reliance by 7.6% during the 4th quarter. Boston Partners now owns 716,280 shares of the industrial products company's stock worth $192,894,000 after purchasing an additional 50,528 shares in the last quarter. Finally, Norges Bank acquired a new stake in Reliance during the 4th quarter valued at $186,255,000. Institutional investors own 79.26% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. KeyCorp increased their price objective on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $319.00.

Reliance Stock Performance

NYSE:RS traded down $0.17 during midday trading on Tuesday, reaching $278.17. The stock had a trading volume of 49,710 shares, compared to its average volume of 398,553. The stock has a market capitalization of $14.71 billion, a P/E ratio of 18.03 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $330.46. The firm's fifty day simple moving average is $285.68 and its 200-day simple moving average is $289.98.

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

Reliance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Reliance's previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.73%. Reliance's payout ratio is currently 31.09%.

Insiders Place Their Bets

In other news, CEO Karla R. Lewis sold 31,136 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 90,230 shares of the company's stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.69% of the company's stock.

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.