9,765 Shares in Reliance, Inc. (NYSE:RS) Bought by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,765 shares of the industrial products company's stock, valued at approximately $2,824,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Reliance by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company's stock worth $333,809,000 after acquiring an additional 53,747 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Reliance by 19.7% during the third quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company's stock worth $136,718,000 after acquiring an additional 77,937 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Reliance by 7.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 296,033 shares of the industrial products company's stock worth $85,616,000 after acquiring an additional 20,056 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Reliance by 78.5% during the second quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company's stock worth $82,816,000 after acquiring an additional 127,422 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Reliance by 0.3% during the third quarter. Victory Capital Management Inc. now owns 203,156 shares of the industrial products company's stock worth $58,755,000 after acquiring an additional 528 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets dropped their target price on Reliance from $340.00 to $330.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. KeyCorp decreased their price target on Reliance from $335.00 to $325.00 and set an "overweight" rating for the company in a research note on Monday, October 14th. Finally, The Goldman Sachs Group started coverage on Reliance in a research note on Monday, December 2nd. They issued a "neutral" rating and a $341.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $328.83.

Insider Activity

In other news, Director Mark V. Kaminski sold 5,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $298.01, for a total transaction of $1,490,050.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Karla R. Lewis sold 3,892 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the sale, the chief executive officer now owns 85,117 shares of the company's stock, valued at $27,569,396.30. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,724 shares of company stock worth $6,856,500 in the last ninety days. Corporate insiders own 0.69% of the company's stock.

Reliance Price Performance

Shares of NYSE RS traded up $3.83 during trading on Monday, hitting $308.22. The company had a trading volume of 256,658 shares, compared to its average volume of 319,693. The company has a market cap of $16.68 billion, a P/E ratio of 16.72 and a beta of 0.87. Reliance, Inc. has a 52 week low of $261.77 and a 52 week high of $342.20. The business's 50-day moving average is $301.85 and its 200 day moving average is $292.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.02). Reliance had a return on equity of 13.68% and a net margin of 7.42%. The firm had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.38 billion. During the same quarter in the previous year, the firm posted $5.00 earnings per share. The company's revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts predict that Reliance, Inc. will post 16.42 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, November 22nd. Reliance's dividend payout ratio is currently 24.16%.

About Reliance

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.