Reliance, Inc. (NYSE:RS) Stock Position Reduced by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lessened its position in Reliance, Inc. (NYSE:RS - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,784 shares of the industrial products company's stock after selling 1,153 shares during the period. Tower Research Capital LLC TRC's holdings in Reliance were worth $1,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in Reliance by 10.4% in the fourth quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock valued at $398,381,000 after buying an additional 138,866 shares during the period. First Trust Advisors LP boosted its stake in Reliance by 15.5% in the fourth quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock valued at $372,364,000 after acquiring an additional 185,873 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Reliance by 6,311.2% during 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 during the last quarter. Principal Financial Group Inc. boosted 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 worth $195,402,000 after acquiring an additional 252,955 shares during the period. Finally, Boston Partners increased its holdings in shares of Reliance by 7.6% in the fourth 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 during the period. 79.26% of the stock is owned by institutional investors.

Insider Transactions at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

RS has been the topic of a number of research analyst reports. Wolfe Research raised Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. KeyCorp lifted their target price on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Reliance currently has a consensus rating of "Hold" and a consensus target price of $319.00.

Reliance Trading Down 0.2 %

NYSE RS traded down $0.62 on Friday, reaching $284.54. 301,908 shares of the company were exchanged, compared to its average volume of 400,172. The business's fifty day moving average price is $283.42 and its 200 day moving average price is $289.55. The stock has a market capitalization of $15.05 billion, a P/E ratio of 18.43 and a beta of 0.83. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.66 by $0.11. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. Analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.69%. Reliance's dividend payout ratio (DPR) is 31.09%.

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.