Strategic Family Wealth Counselors L.L.C. Sells 952 Shares of Reliance, Inc. (NYSE:RS)

Strategic Family Wealth Counselors L.L.C. cut its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,653 shares of the industrial products company's stock after selling 952 shares during the period. Strategic Family Wealth Counselors L.L.C.'s holdings in Reliance were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company's stock valued at $219,841,000 after purchasing an additional 803,730 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Reliance by 53.5% in the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock valued at $195,402,000 after purchasing an additional 252,955 shares in the last quarter. Edge Capital Group LLC bought a new stake in shares of Reliance in the fourth quarter valued at about $46,979,000. Woodward Diversified Capital LLC bought a new stake in shares of Reliance in the fourth quarter valued at about $21,015,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Reliance in the fourth quarter valued at about $20,640,000. 79.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Karla R. Lewis sold 31,136 shares of the company's 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 transaction, the chief executive officer now owns 90,230 shares of the company's stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.69% of the company's stock.

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Reliance Stock Up 1.9 %

RS traded up $5.39 on Friday, hitting $288.72. 379,892 shares of the company were exchanged, compared to its average volume of 432,554. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20. The company has a market cap of $15.29 billion, a PE ratio of 18.70 and a beta of 0.87. 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 stock's fifty day moving average is $285.62 and its 200-day moving average is $289.94.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share for the quarter, missing analysts' consensus estimates of $2.74 by ($0.52). The business had revenue of $3.13 billion for 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%. Equities research analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Reliance's previous quarterly dividend of $1.10. Reliance's payout ratio is 31.09%.

Wall Street Analysts Forecast Growth

RS has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on Reliance in a report on Monday, December 2nd. They issued a "neutral" rating and a $341.00 price target on the stock. KeyCorp upped their target price on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Finally, Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Reliance has an average rating of "Hold" and an average price target 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.