Siemens Fonds Invest GmbH Invests $1.12 Million in Reliance, Inc. (NYSE:RS)

Siemens Fonds Invest GmbH purchased a new position in shares of Reliance, Inc. (NYSE:RS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,163 shares of the industrial products company’s stock, valued at approximately $1,121,000.

Several other institutional investors have also modified their holdings of RS. Proficio Capital Partners LLC acquired a new stake in Reliance in the fourth quarter worth about $7,352,000. Pure Financial Advisors LLC lifted its holdings in Reliance by 232.9% in the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock worth $2,499,000 after purchasing an additional 6,493 shares during the period. Occidental Asset Management LLC lifted its holdings in Reliance by 5.8% in the fourth quarter. Occidental Asset Management LLC now owns 16,494 shares of the industrial products company’s stock worth $4,441,000 after purchasing an additional 898 shares during the period. BTS Asset Management Inc. acquired a new stake in Reliance in the fourth quarter worth about $707,000. Finally, Loomis Sayles & Co. L P lifted its holdings in Reliance by 3.5% in the 4th quarter. Loomis Sayles & Co. L P now owns 48,213 shares of the industrial products company’s stock valued at $12,982,000 after acquiring an additional 1,640 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp upped 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Reliance has an average rating of “Hold” and an average price target of $319.00.

Insider Activity

In related news, CEO Karla R. Lewis sold 31,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the sale, the chief executive officer now owns 90,230 shares of the company’s stock, valued at approximately $27,115,919.60. The trade was a 25.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by corporate insiders.

Reliance Price Performance

NYSE RS opened at $303.96 on Friday. The stock’s 50-day moving average price is $284.80 and its two-hundred day moving average price is $290.02. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market cap of $15.98 billion, a PE ratio of 19.69 and a beta of 0.91. 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 the consensus estimate 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 return on equity of 11.87% and a net margin of 6.33%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.30 EPS. On average, analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

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 issued a $1.20 dividend. The ex-dividend date is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.58%. Reliance’s dividend payout ratio is 34.41%.

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.