Reliance, Inc. (NYSE:RS) Position Decreased by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lowered its holdings in Reliance, Inc. (NYSE:RS) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,361 shares of the industrial products company’s stock after selling 1,144 shares during the period. Treasurer of the State of North Carolina owned about 0.05% of Reliance worth $7,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc grew its position in Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after buying an additional 131 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Reliance by 1,216.0% during the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 304 shares in the last quarter. Providence First Trust Co acquired a new position in shares of Reliance in the 4th quarter worth $90,000. UMB Bank n.a. raised its position in shares of Reliance by 41.8% during the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 104 shares during the period. Finally, Abound Wealth Management lifted its holdings in shares of Reliance by 35,700.0% during the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 357 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Karla R. Lewis sold 31,136 shares of the firm’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 transaction, the chief executive officer now owns 90,230 shares in the company, valued at approximately $27,115,919.60. This trade represents a 25.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is owned by corporate insiders.

Reliance Price Performance

NYSE RS opened at $279.38 on Monday. The company has a 50 day simple moving average of $285.85 and a 200-day simple moving average of $290.06. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $330.46. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 18.09 and a beta of 0.83. 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 (NYSE:RS) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52). Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.04 billion. Equities research analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.72%. Reliance’s dividend payout ratio (DPR) is 31.09%.

Analyst Ratings Changes

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

Reliance 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.