Reliance, Inc. (NYSE:RS) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its stake in shares of Reliance, Inc. (NYSE:RS) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,211 shares of the industrial products company’s stock after selling 1,276 shares during the quarter. Fisher Asset Management LLC’s holdings in Reliance were worth $1,737,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its holdings in shares of Reliance by 378.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,919 shares of the industrial products company’s stock worth $1,655,000 after acquiring an additional 4,682 shares during the period. United Capital Management of KS Inc. increased its position in 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 purchasing an additional 219 shares during the last quarter. Vest Financial LLC raised its stake in 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 purchasing an additional 12,423 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Reliance by 15.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 210,218 shares of the industrial products company’s stock valued at $55,125,000 after purchasing an additional 28,889 shares during the last quarter. Finally, Comerica Bank purchased a new stake in shares of Reliance in the 3rd quarter valued at approximately $8,173,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on RS shares. Citigroup lowered shares of Reliance from a “buy” rating to a “neutral” rating and lifted their price target for the company from $280.00 to $380.00 in a research report on Thursday, April 11th. BMO Capital Markets decreased their price target on Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. KeyCorp raised their price objective on Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Finally, StockNews.com raised shares of Reliance from a “hold” rating to a “buy” rating in a research report on Tuesday.

Reliance Stock Down 0.9 %

NYSE:RS opened at $292.81 on Thursday. Reliance, Inc. has a 52 week low of $229.12 and a 52 week high of $342.20. The stock’s fifty day moving average is $319.19 and its two-hundred day moving average is $293.74. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 5.08 and a beta of 0.92. The company has a quick ratio of 3.21, a current ratio of 5.74 and a debt-to-equity ratio of 0.14.

Reliance (NYSE:RS) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.21). The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Reliance had a net margin of 8.67% and a return on equity of 16.26%. The business’s revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $6.37 earnings per share. Research analysts anticipate that Reliance, Inc. will post 19.6 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.50%. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 650 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $322.96, for a total value of $209,924.00. Following the sale, the chief executive officer now directly owns 83,884 shares in the company, valued at $27,091,176.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Karla R. Lewis sold 650 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $322.96, for a total transaction of $209,924.00. Following the sale, the chief executive officer now directly owns 83,884 shares in the company, valued at $27,091,176.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Donald Hoffman sold 5,000 shares of Reliance stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $289.81, for a total transaction of $1,449,050.00. Following the completion of the transaction, the director now owns 49,042 shares of the company’s stock, valued at approximately $14,212,862.02. The disclosure for this sale can be found here. Insiders sold 100,996 shares of company stock valued at $31,966,978 in the last 90 days. Company insiders own 0.69% of the company’s stock.

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.