Reliance, Inc. (NYSE:RS) Shares Sold by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC trimmed its holdings in Reliance, Inc. (NYSE:RS) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,355 shares of the industrial products company’s stock after selling 60 shares during the period. Uncommon Cents Investing LLC’s holdings in Reliance were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. United Capital Management of KS Inc. increased its holdings in shares of Reliance by 0.8% in the 3rd quarter. United Capital Management of KS Inc. now owns 26,668 shares of the industrial products company’s stock valued at $6,993,000 after acquiring an additional 219 shares during the period. Vest Financial LLC increased its stake in Reliance by 35.2% in the 4th quarter. Vest Financial LLC now owns 47,759 shares of the industrial products company’s stock valued at $13,357,000 after buying an additional 12,423 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Reliance by 15.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 210,218 shares of the industrial products company’s stock valued at $55,125,000 after buying an additional 28,889 shares during the period. Natixis acquired a new position in Reliance in the 2nd quarter valued at $166,000. Finally, Comerica Bank acquired a new position in Reliance in the 3rd quarter valued at $8,173,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RS shares. KeyCorp boosted their price objective on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. BMO Capital Markets boosted their target price on shares of Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th.

Reliance Price Performance

Shares of Reliance stock traded down $2.72 on Thursday, hitting $334.18. The company’s stock had a trading volume of 214,462 shares, compared to its average volume of 249,247. Reliance, Inc. has a 52-week low of $229.12 and a 52-week high of $337.11. The company has a quick ratio of 3.23, a current ratio of 5.66 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $309.62 and a 200-day moving average price of $282.15. The company has a market capitalization of $19.19 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 4.73 and a beta of 0.87.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $4.73 EPS for the quarter, topping the consensus estimate of $3.92 by $0.81. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.31 billion. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.87 EPS. On average, equities research analysts expect that Reliance, Inc. will post 19.34 earnings per share for the current fiscal year.

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.32%. This is a positive change from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 7th. Reliance’s dividend payout ratio is 19.46%.

Insider Activity

In other news, Director James Donald Hoffman sold 40,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $322.95, for a total transaction of $12,918,000.00. Following the completion of the transaction, the director now owns 54,042 shares of the company’s stock, valued at approximately $17,452,863.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Reliance news, Director James Donald Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total value of $12,918,000.00. Following the completion of the transaction, the director now owns 54,042 shares in the company, valued at approximately $17,452,863.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total value of $968,850.00. Following the completion of the transaction, the chief financial officer now owns 15,577 shares of the company’s stock, valued at approximately $5,030,592.15. The disclosure for this sale can be found here. Insiders sold a total of 85,996 shares of company stock valued at $27,603,878 in the last 90 days. 0.62% of the stock is currently owned by insiders.

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.