Bokf Na Sells 53 Shares of Reliance, Inc. (NYSE:RS)

Bokf Na lessened its position in Reliance, Inc. (NYSE:RS) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,887 shares of the industrial products company’s stock after selling 53 shares during the period. Bokf Na’s holdings in Reliance were worth $2,538,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Reliance during the first quarter worth $25,000. Innealta Capital LLC bought a new stake in Reliance in the second quarter valued at about $28,000. Contravisory Investment Management Inc. acquired a new stake in shares of Reliance in the 1st quarter valued at approximately $30,000. Rise Advisors LLC acquired a new stake in Reliance in the first quarter worth $49,000. Finally, National Bank of Canada FI lifted its holdings in Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 41 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Reliance Trading Up 1.4 %

NYSE:RS opened at $277.95 on Friday. The company has a market cap of $15.29 billion, a P/E ratio of 12.98 and a beta of 0.85. Reliance, Inc. has a twelve month low of $237.14 and a twelve month high of $342.20. The business has a 50 day moving average price of $287.13 and a two-hundred day moving average price of $299.49. The company has a quick ratio of 2.43, a current ratio of 5.02 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS) last announced its earnings results on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.08). Reliance had a return on equity of 14.73% and a net margin of 7.99%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the company posted $6.49 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, analysts expect that Reliance, Inc. will post 17.21 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Friday, August 16th. Reliance’s dividend payout ratio is currently 20.55%.

Analyst Ratings Changes

A number of analysts recently issued reports on RS shares. KeyCorp lowered their target price on Reliance from $341.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, July 3rd. Bank of America lowered their price objective on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Finally, Wolfe Research cut shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price objective on the stock. in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $329.40.

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.