Reliance, Inc. (NYSE:RS) Shares Sold by Amundi

Amundi reduced its position in shares of Reliance, Inc. (NYSE:RS) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,438 shares of the industrial products company’s stock after selling 23,681 shares during the period. Amundi’s holdings in Reliance were worth $39,174,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Reliance during the third quarter valued at about $41,000. Versant Capital Management Inc increased its position in shares of Reliance by 157.8% during the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 131 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Reliance during the third quarter valued at about $78,000. Jones Financial Companies Lllp increased its position in shares of Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 304 shares during the last quarter. Finally, Providence First Trust Co purchased a new position in shares of Reliance in the fourth quarter valued at approximately $90,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Down 1.3 %

Reliance stock opened at $277.82 on Thursday. The firm has a market capitalization of $14.72 billion, a P/E ratio of 17.99 and a beta of 0.87. The stock’s fifty day simple moving average is $286.22 and its 200-day simple moving average is $290.01. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a twelve month low of $256.98 and a twelve month high of $342.20.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.74 by ($0.52). The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. As a group, equities analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Reliance’s previous quarterly dividend of $1.10. Reliance’s dividend payout ratio is 31.09%.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the transaction, the chief executive officer now owns 90,230 shares in the company, valued at $27,115,919.60. This represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective for the company. KeyCorp upped their price objective on Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Finally, Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Reliance has an average rating of “Hold” and a consensus price target of $329.17.

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.