Vontobel Holding Ltd. Has $488,000 Holdings in Reliance, Inc. (NYSE:RS)

Vontobel Holding Ltd. cut its position in shares of Reliance, Inc. (NYSE:RS) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,746 shares of the industrial products company’s stock after selling 340 shares during the quarter. Vontobel Holding Ltd.’s holdings in Reliance were worth $488,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in shares of Reliance by 378.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,919 shares of the industrial products company’s stock worth $1,655,000 after buying an additional 4,682 shares during the period. United Capital Management of KS Inc. increased its position in shares of Reliance by 0.8% during the third quarter. United Capital Management of KS Inc. now owns 26,668 shares of the industrial products company’s stock worth $6,993,000 after buying an additional 219 shares during the period. Vest Financial LLC increased its position in shares of Reliance by 35.2% during the fourth quarter. Vest Financial LLC now owns 47,759 shares of the industrial products company’s stock worth $13,357,000 after buying an additional 12,423 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Reliance by 15.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 210,218 shares of the industrial products company’s stock worth $55,125,000 after buying an additional 28,889 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Reliance during the third quarter worth $8,173,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Reliance

In other Reliance news, Director James Donald Hoffman sold 40,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $322.95, for a total value of $12,918,000.00. Following the transaction, the director now directly owns 54,042 shares of the company’s stock, valued at $17,452,863.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James Donald Hoffman sold 40,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $322.95, for a total value of $12,918,000.00. Following the completion of the sale, the director now owns 54,042 shares in the company, valued at $17,452,863.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the completion of the sale, the chief executive officer now owns 84,534 shares of the company’s stock, valued at approximately $26,963,809.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,996 shares of company stock valued at $27,603,878. Corporate insiders own 0.69% of the company’s stock.

Reliance Stock Up 0.1 %

Shares of NYSE RS opened at $319.76 on Tuesday. The firm has a market cap of $18.36 billion, a PE ratio of 14.14, a P/E/G ratio of 5.63 and a beta of 0.87. Reliance, Inc. has a 12-month low of $229.12 and a 12-month high of $342.20. The company’s fifty day simple moving average is $324.81 and its 200 day simple moving average is $290.87. The company has a quick ratio of 3.23, a current ratio of 5.66 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.81. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the firm earned $5.87 earnings per share. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Reliance, Inc. will post 19.51 earnings per share for the current fiscal year.

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 7th. Reliance’s dividend payout ratio (DPR) is 19.46%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RS. KeyCorp increased their target price on shares of Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. BMO Capital Markets increased their target price on shares of Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Citigroup lowered shares of Reliance from a “buy” rating to a “neutral” rating and increased their target price for the stock from $280.00 to $380.00 in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.67.

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.