California State Teachers Retirement System Buys 9,068 Shares of Reliance, Inc. (NYSE:RS)

California State Teachers Retirement System boosted its stake in shares of Reliance, Inc. (NYSE:RSFree Report) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,196 shares of the industrial products company’s stock after buying an additional 9,068 shares during the quarter. California State Teachers Retirement System owned approximately 0.20% of Reliance worth $32,218,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MMCAP International Inc. SPC bought a new position in Reliance during the fourth quarter worth about $845,000. Capstone Investment Advisors LLC bought a new position in Reliance during the fourth quarter worth about $228,000. TFO Wealth Partners LLC boosted its position in Reliance by 48,075.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,927 shares of the industrial products company’s stock worth $539,000 after purchasing an additional 1,923 shares during the period. Treasurer of the State of North Carolina boosted its position in Reliance by 4.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 37,595 shares of the industrial products company’s stock worth $10,515,000 after purchasing an additional 1,515 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Reliance by 3.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,159 shares of the industrial products company’s stock worth $1,722,000 after purchasing an additional 193 shares during the period. Institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com cut shares of Reliance from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. KeyCorp boosted their price objective on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, BMO Capital Markets dropped their target price on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research report on Friday, April 26th.

View Our Latest Stock Analysis on RS

Reliance Trading Down 3.1 %

Shares of RS opened at $287.91 on Wednesday. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 6.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74. Reliance, Inc. has a fifty-two week low of $234.56 and a fifty-two week high of $342.20. The firm has a 50 day moving average price of $310.40 and a 200-day moving average price of $298.83.

Reliance (NYSE:RSGet Free Report) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.30 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.21). Reliance had a return on equity of 16.26% and a net margin of 8.67%. The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the firm earned $6.37 earnings per share. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. As a group, equities research analysts forecast that Reliance, Inc. will post 19.63 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, May 23rd. Reliance’s payout ratio is currently 20.55%.

Insider Buying and Selling at Reliance

In other Reliance news, COO Stephen Paul Koch sold 20,421 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $295.38, for a total transaction of $6,031,954.98. Following the transaction, the chief operating officer now directly owns 7,552 shares of the company’s stock, valued at approximately $2,230,709.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director James Donald Hoffman sold 5,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $294.36, for a total value of $1,471,800.00. Following the sale, the director now directly owns 34,042 shares of the company’s stock, valued at approximately $10,020,603.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stephen Paul Koch sold 20,421 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $295.38, for a total transaction of $6,031,954.98. Following the completion of the sale, the chief operating officer now directly owns 7,552 shares in the company, valued at $2,230,709.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,421 shares of company stock valued at $11,866,855. 0.69% of the stock is currently owned by company insiders.

Reliance Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Reliance (NYSE:RS)

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