Sherbrooke Park Advisers LLC Has $545,000 Position in Reliance, Inc. (NYSE:RS)

Sherbrooke Park Advisers LLC lowered its holdings in Reliance, Inc. (NYSE:RS) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,024 shares of the industrial products company’s stock after selling 299 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Reliance were worth $545,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Coppell Advisory Solutions LLC grew its position in Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 128 shares during the period. Transce3nd LLC acquired a new stake in Reliance in the 4th quarter valued at $58,000. Quarry LP boosted its holdings in Reliance by 83.7% during the 4th quarter. Quarry LP now owns 259 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 118 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in 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 during the last quarter. Finally, Providence First Trust Co purchased a new position in Reliance during the 4th quarter worth $90,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Price Performance

RS opened at $303.96 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The company has a market capitalization of $15.98 billion, a price-to-earnings ratio of 19.69 and a beta of 0.91. The firm’s fifty day moving average price is $284.80 and its two-hundred day moving average price is $290.02. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $326.87.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.11. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.30 EPS. As a group, analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, May 23rd. Reliance’s payout ratio is 34.41%.

Analyst Upgrades and Downgrades

Separately, KeyCorp lifted their price objective on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $319.00.

Insider Transactions at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction on Monday, February 24th. The stock was sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the sale, the chief executive officer now directly owns 90,230 shares in the company, valued at $27,115,919.60. The trade was a 25.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.

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.