Lingohr Asset Management GmbH Sells 885 Shares of Reliance, Inc. (NYSE:RS)

Lingohr Asset Management GmbH lessened its position in shares of Reliance, Inc. (NYSE:RS) by 38.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,424 shares of the industrial products company’s stock after selling 885 shares during the quarter. Lingohr Asset Management GmbH’s holdings in Reliance were worth $379,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RS. Pacer Advisors Inc. raised its stake in shares of Reliance by 6,311.2% during the 4th quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock worth $219,841,000 after acquiring an additional 803,730 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Reliance by 53.5% during the 4th 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 in the last quarter. Edge Capital Group LLC bought a new position in shares of Reliance during the 4th quarter worth approximately $46,979,000. Woodward Diversified Capital LLC bought a new position in shares of Reliance during the 4th quarter worth approximately $21,015,000. Finally, Raymond James Financial Inc. bought a new position in shares of Reliance during the 4th quarter worth approximately $20,640,000. Institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

RS has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target on the stock. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, KeyCorp upped their price target on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $329.17.

Reliance Stock Up 0.7 %

RS stock opened at $282.66 on Thursday. The firm’s fifty day simple moving average is $287.60 and its 200-day simple moving average is $289.86. The company has a market capitalization of $14.97 billion, a P/E ratio of 18.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.74 by ($0.52). The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. As a group, equities research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $1.20 dividend. This is an increase from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, March 7th. Reliance’s dividend payout ratio is 31.09%.

Insider Activity

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 90,230 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. 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.