Measured Wealth Private Client Group LLC Increases Stock Holdings in Reliance, Inc. (NYSE:RS)

Measured Wealth Private Client Group LLC boosted its stake in shares of Reliance, Inc. (NYSE:RS) by 6.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,590 shares of the industrial products company’s stock after buying an additional 161 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Reliance were worth $724,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Reliance by 1.0% during the third quarter. Wellington Management Group LLP now owns 1,197,200 shares of the industrial products company’s stock valued at $313,942,000 after buying an additional 12,166 shares during the period. Invesco Ltd. grew its position in Reliance by 35.4% in the 3rd quarter. Invesco Ltd. now owns 723,755 shares of the industrial products company’s stock valued at $189,790,000 after acquiring an additional 189,326 shares during the last quarter. Northern Trust Corp increased its position in Reliance by 6.0% during the 3rd quarter. Northern Trust Corp now owns 675,801 shares of the industrial products company’s stock valued at $177,215,000 after purchasing an additional 37,971 shares during the period. Pacer Advisors Inc. increased its holdings in Reliance by 7.1% during the fourth quarter. Pacer Advisors Inc. now owns 536,462 shares of the industrial products company’s stock valued at $150,038,000 after buying an additional 35,627 shares during the period. Finally, Legal & General Group Plc increased its holdings in Reliance by 0.5% during the third quarter. Legal & General Group Plc now owns 324,868 shares of the industrial products company’s stock valued at $85,190,000 after buying an additional 1,465 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RS has been the topic of several research reports. Citigroup lowered shares of Reliance from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $280.00 to $380.00 in a report on Thursday, April 11th. KeyCorp boosted their price objective on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a report on Friday, February 16th. StockNews.com downgraded Reliance from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, BMO Capital Markets reduced their price target on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research report on Friday, April 26th.

Reliance Price Performance

Shares of RS traded down $0.94 during trading hours on Friday, hitting $289.78. 249,162 shares of the stock were exchanged, compared to its average volume of 278,406. The stock’s 50-day moving average price is $320.99 and its two-hundred day moving average price is $292.61. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 5.10 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74. Reliance, Inc. has a 12-month low of $229.12 and a 12-month high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.21). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.76 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period last year, the firm posted $6.37 EPS. Research analysts expect that Reliance, Inc. will post 19.6 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 23rd. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Insider Activity

In other Reliance news, CEO Karla R. Lewis sold 650 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $322.96, for a total transaction of $209,924.00. Following the sale, the chief executive officer now owns 83,884 shares in the company, valued at approximately $27,091,176.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total value of $13,507,103.62. Following the transaction, the chief executive officer now owns 84,534 shares in the company, valued at approximately $26,963,809.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Karla R. Lewis sold 650 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $322.96, for a total value of $209,924.00. Following the completion of the sale, the chief executive officer now directly owns 83,884 shares of the company’s stock, valued at $27,091,176.64. The disclosure for this sale can be found here. Insiders have sold a total of 90,996 shares of company stock valued at $29,052,928 in the last quarter. 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.