Reliance, Inc. (NYSE:RS) Shares Sold by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH trimmed its holdings in Reliance, Inc. (NYSE:RS) by 38.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,424 shares of the industrial products company’s stock after selling 885 shares during the period. Lingohr Asset Management GmbH’s holdings in Reliance were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Pacer Advisors Inc. increased its position in Reliance by 6,311.2% during the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock worth $219,841,000 after purchasing an additional 803,730 shares during the last quarter. Principal Financial Group Inc. increased its position in Reliance by 53.5% during the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock worth $195,402,000 after purchasing an additional 252,955 shares during the last quarter. Boston Partners increased its position 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 last quarter. Bank of New York Mellon Corp increased its position 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Reliance by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,453 shares of the industrial products company’s stock worth $107,018,000 after purchasing an additional 2,921 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Trading Up 0.7 %

Shares of RS stock opened at $282.66 on Thursday. 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 firm has a market cap of $14.97 billion, a PE ratio of 18.31 and a beta of 0.87. The company has a 50-day moving average of $287.60 and a two-hundred day moving average of $289.86. Reliance, Inc. has a 1-year low of $256.98 and a 1-year high of $342.20.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52). The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. On average, analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Reliance’s previous quarterly dividend of $1.10. Reliance’s payout ratio is 31.09%.

Insiders Place Their Bets

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $300.52, for a total transaction 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. The trade was a 25.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on RS. The Goldman Sachs Group began coverage on shares of Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective for the company. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, KeyCorp increased their target price on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock 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.