Mutual of America Capital Management LLC Sells 3,146 Shares of Reliance, Inc. (NYSE:RS)

Mutual of America Capital Management LLC trimmed its position in shares of Reliance, Inc. (NYSE:RS) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,735 shares of the industrial products company’s stock after selling 3,146 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Reliance worth $8,600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Archer Investment Corp increased its holdings in Reliance by 307.9% in the 3rd quarter. Archer Investment Corp now owns 1,285 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 970 shares during the last quarter. Dearborn Partners LLC increased its holdings in Reliance by 4.1% in the 3rd quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock valued at $24,989,000 after acquiring an additional 3,419 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Reliance by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,634 shares of the industrial products company’s stock valued at $762,000 after acquiring an additional 62 shares during the last quarter. Metis Global Partners LLC increased its holdings in Reliance by 37.5% in the 3rd quarter. Metis Global Partners LLC now owns 3,508 shares of the industrial products company’s stock valued at $1,015,000 after acquiring an additional 956 shares during the last quarter. Finally, Curi RMB Capital LLC increased its holdings in Reliance by 2.1% in the 3rd quarter. Curi RMB Capital LLC now owns 7,637 shares of the industrial products company’s stock valued at $2,209,000 after acquiring an additional 155 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Price Performance

RS stock opened at $310.33 on Tuesday. Reliance, Inc. has a 12 month low of $261.77 and a 12 month high of $342.20. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $292.08 and a 200 day moving average price of $290.15. The stock has a market cap of $16.80 billion, a PE ratio of 17.04 and a beta of 0.85.

Reliance (NYSE:RS) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a return on equity of 13.68% and a net margin of 7.42%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the firm posted $5.00 earnings per share. Reliance’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Reliance, Inc. will post 16.45 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $1.10 dividend. The ex-dividend date is Friday, November 22nd. This represents a $4.40 annualized dividend and a yield of 1.42%. Reliance’s dividend payout ratio (DPR) is 24.16%.

Insider Buying and Selling at Reliance

In other Reliance news, SVP William A. Smith II sold 6,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total value of $2,091,115.00. Following the completion of the sale, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at $5,420,491.79. The trade was a 27.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $298.01, for a total transaction of $1,490,050.00. The disclosure for this sale can be found here. Insiders sold a total of 17,832 shares of company stock valued at $5,595,881 in the last three months. Company insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

RS has been the subject of a number of recent research reports. BMO Capital Markets dropped their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wolfe Research cut shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price objective for the company. in a research note on Friday, July 26th. Finally, KeyCorp dropped their price objective on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $326.40.

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.