Reliance, Inc. (NYSE:RS) Stock Position Raised by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. lifted its position in Reliance, Inc. (NYSE:RS) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,423 shares of the industrial products company’s stock after acquiring an additional 648 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Reliance were worth $2,443,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Reliance by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company’s stock valued at $333,809,000 after acquiring an additional 53,747 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Reliance by 19.7% in the 3rd quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock valued at $136,718,000 after acquiring an additional 77,937 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Reliance by 7.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 296,033 shares of the industrial products company’s stock valued at $85,616,000 after acquiring an additional 20,056 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Reliance by 78.5% in the 2nd quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company’s stock valued at $82,816,000 after acquiring an additional 127,422 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Reliance by 0.3% in the 3rd quarter. Victory Capital Management Inc. now owns 203,156 shares of the industrial products company’s stock valued at $58,755,000 after acquiring an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective on the stock. BMO Capital Markets dropped their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, KeyCorp dropped their price objective on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Reliance currently has a consensus rating of “Hold” and a consensus target price of $328.83.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the sale, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at $27,569,396.30. This represents a 4.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William A. Smith II sold 6,500 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at approximately $5,420,491.79. This trade represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,724 shares of company stock worth $6,856,500. 0.69% of the stock is owned by insiders.

Reliance Stock Performance

Shares of RS opened at $306.94 on Wednesday. The company’s fifty day moving average is $302.57 and its 200-day moving average is $292.21. Reliance, Inc. has a 12 month low of $261.77 and a 12 month high of $342.20. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 16.86 and a beta of 0.87. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12.

Reliance (NYSE:RS) last posted its earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) 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 analyst estimates of $3.38 billion. During the same quarter in the previous year, the business posted $5.00 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities analysts expect that Reliance, Inc. will post 16.42 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $1.10 dividend. The ex-dividend date was Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.43%. Reliance’s payout ratio is presently 24.16%.

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.