Reliance, Inc. (NYSE:RS) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in shares of Reliance, Inc. (NYSE:RSFree Report) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,415 shares of the industrial products company’s stock after selling 194 shares during the period. US Bancorp DE’s holdings in Reliance were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RS. Sequoia Financial Advisors LLC lifted its stake 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 valued at $1,655,000 after buying an additional 4,682 shares during the period. UBS Group AG increased its position in shares of Reliance by 262.0% in the fourth quarter. UBS Group AG now owns 45,016 shares of the industrial products company’s stock worth $12,590,000 after acquiring an additional 32,580 shares in the last quarter. Vest Financial LLC increased its position in shares of Reliance by 35.2% in the fourth quarter. Vest Financial LLC now owns 47,759 shares of the industrial products company’s stock worth $13,357,000 after acquiring an additional 12,423 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Reliance by 15.9% in 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 acquiring an additional 28,889 shares in the last quarter. Finally, Comerica Bank purchased a new position in shares of Reliance in the third quarter valued at $8,173,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the subject of several analyst reports. StockNews.com downgraded shares of Reliance from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. BMO Capital Markets dropped their price objective on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and raised their target price for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. Finally, KeyCorp raised their target price 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.

Get Our Latest Research Report on RS

Reliance Stock Performance

Shares of RS opened at $289.58 on Friday. Reliance, Inc. has a one year low of $237.14 and a one year high of $342.20. The company has a 50-day moving average of $308.58 and a two-hundred day moving average of $298.87. The stock has a market cap of $16.63 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 6.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.74 and a quick ratio of 3.21.

Reliance (NYSE:RSGet Free Report) last posted its quarterly 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). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.76 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.37 earnings per share. On average, equities research analysts expect that Reliance, Inc. will post 19.63 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 23rd. Reliance’s payout ratio is presently 20.55%.

Insider Activity at Reliance

In other news, COO Stephen Paul Koch sold 20,421 shares of Reliance stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $295.38, for a total value of $6,031,954.98. Following the transaction, the chief operating officer now owns 7,552 shares of the company’s stock, valued at $2,230,709.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Stephen Paul Koch sold 20,421 shares of Reliance stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $295.38, for a total value of $6,031,954.98. Following the transaction, the chief operating officer now owns 7,552 shares of the company’s stock, valued at $2,230,709.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Donald Hoffman sold 5,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $290.04, for a total transaction of $1,450,200.00. Following the completion of the sale, the director now owns 44,042 shares in the company, valued at approximately $12,773,941.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,421 shares of company stock valued at $11,866,855. 0.69% of the stock is currently owned by corporate insiders.

About Reliance

(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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