WINTON GROUP Ltd Invests $6.43 Million in Reliance, Inc. (NYSE:RS)

WINTON GROUP Ltd bought a new stake in Reliance, Inc. (NYSE:RS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,878 shares of the industrial products company’s stock, valued at approximately $6,429,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. lifted its stake in Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock valued at $219,841,000 after acquiring an additional 803,730 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Reliance by 53.5% in the 4th quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock valued at $195,402,000 after purchasing an additional 252,955 shares during the last quarter. Boston Partners grew its holdings in Reliance by 7.6% during the fourth quarter. Boston Partners now owns 716,280 shares of the industrial products company’s stock worth $192,894,000 after purchasing an additional 50,528 shares during the period. Bank of New York Mellon Corp grew its holdings in Reliance by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 503,400 shares of the industrial products company’s stock worth $135,546,000 after purchasing an additional 25,750 shares during the period. Finally, American Century Companies Inc. increased its position in Reliance by 1,127.9% during the fourth quarter. American Century Companies Inc. now owns 426,986 shares of the industrial products company’s stock worth $114,971,000 after buying an additional 392,213 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $9,356,990.72. Following the sale, the chief executive officer now directly owns 90,230 shares of the company’s stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Reliance Stock Up 0.4 %

RS stock opened at $294.41 on Thursday. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of 19.07 and a beta of 0.87. The business’s fifty day moving average price is $288.87 and its two-hundred day moving average price is $290.25.

Reliance (NYSE:RS) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.22 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 return on equity of 11.87% and a net margin of 6.33%. On average, equities analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $1.20 dividend. 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 1.63%. The ex-dividend date of this dividend was Friday, March 7th. Reliance’s payout ratio is 31.09%.

Analysts Set New Price Targets

Several brokerages have recently commented on RS. The Goldman Sachs Group initiated coverage on Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price for the company. 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. Finally, Wolfe Research raised shares of 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 presently has a consensus rating of “Hold” and an average price target of $329.17.

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.