Sanctuary Advisors LLC Increases Stock Holdings in Reliance, Inc. (NYSE:RS)

Sanctuary Advisors LLC boosted its stake in Reliance, Inc. (NYSE:RS) by 7.8% in the third quarter, Holdings Channel reports. The fund owned 11,401 shares of the industrial products company’s stock after buying an additional 827 shares during the quarter. Sanctuary Advisors LLC’s holdings in Reliance were worth $3,640,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Reliance in the second quarter valued at $28,000. Quarry LP acquired a new position in Reliance in the 3rd quarter worth $41,000. UMB Bank n.a. lifted its holdings in Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after buying an additional 53 shares in the last quarter. National Bank of Canada FI boosted its position in Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after buying an additional 41 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Reliance during the third quarter valued at about $78,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RS shares. The Goldman Sachs Group started coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target on the stock. KeyCorp cut their target price on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, BMO Capital Markets decreased their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $328.83.

Reliance Trading Down 1.4 %

Shares of NYSE RS opened at $288.00 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $303.70 and its two-hundred day moving average price is $292.15. Reliance, Inc. has a 52-week low of $264.99 and a 52-week high of $342.20. The stock has a market capitalization of $15.59 billion, a P/E ratio of 15.82 and a beta of 0.87.

Reliance (NYSE:RS) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the firm posted $5.00 earnings per share. Reliance’s revenue was down 5.6% compared to the same quarter last year. On average, analysts anticipate that Reliance, Inc. will post 16.42 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, November 22nd. Reliance’s dividend payout ratio (DPR) is presently 24.16%.

Insider Activity at Reliance

In other news, SVP William A. Smith II sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the completion of the transaction, the senior vice president now owns 16,849 shares in the company, valued at approximately $5,420,491.79. This represents a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Karla R. Lewis sold 3,892 shares of Reliance stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the sale, the chief executive officer now owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,724 shares of company stock valued at $6,856,500 in the last quarter. Insiders own 0.69% of the company’s stock.

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.