Cerity Partners LLC Has $5.31 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

Cerity Partners LLC reduced its holdings in shares of Reliance, Inc. (NYSE:RS) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,610 shares of the industrial products company’s stock after selling 100 shares during the quarter. Cerity Partners LLC’s holdings in Reliance were worth $5,309,000 at the end of the most recent reporting period.

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

Insider Transactions at Reliance

In related news, CEO Karla R. Lewis sold 31,136 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RS shares. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. KeyCorp lifted their price objective on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Reliance currently has a consensus rating of “Hold” and an average target price of $319.00.

Reliance Price Performance

RS opened at $279.38 on Friday. The company 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 quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $285.85 and a 200-day moving average price of $290.06. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $330.46.

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). The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. Equities analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Increases Dividend

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

About Reliance

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.