Public Employees Retirement Association of Colorado Cuts Position in Reliance, Inc. (NYSE:RS)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Reliance, Inc. (NYSE:RSFree Report) by 69.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,671 shares of the industrial products company’s stock after selling 13,066 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Reliance were worth $1,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RS. Catalyst Capital Advisors LLC acquired a new stake in Reliance during the 3rd quarter worth about $33,000. Partnership Wealth Management LLC acquired a new position in shares of Reliance in the 4th quarter valued at about $43,000. Altshuler Shaham Ltd lifted its holdings in shares of Reliance by 183.6% in the 3rd quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock valued at $54,000 after buying an additional 134 shares during the period. Blue Trust Inc. lifted its holdings in shares of Reliance by 187.9% in the 4th quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock valued at $75,000 after buying an additional 186 shares during the period. Finally, Planned Solutions Inc. acquired a new position in shares of Reliance in the 4th quarter valued at about $89,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on Reliance

Insider Transactions at Reliance

In other news, COO Stephen Paul Koch sold 20,421 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 7,552 shares in the company, valued at $2,230,709.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Stephen Paul Koch sold 20,421 shares of Reliance stock in a transaction on Friday, May 31st. The stock was sold at an average price of $295.38, for a total value of $6,031,954.98. Following the completion of the transaction, the chief operating officer now directly owns 7,552 shares in the company, valued at $2,230,709.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Donald Hoffman sold 5,000 shares of Reliance stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $289.81, for a total value 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 $14,212,862.02. The disclosure for this sale can be found here. Insiders sold a total of 40,421 shares of company stock worth $11,866,855 over the last ninety days. Company insiders own 0.69% of the company’s stock.

Reliance Price Performance

RS stock opened at $284.43 on Tuesday. The business has a fifty day moving average of $306.74 and a two-hundred day moving average of $299.36. The company has a quick ratio of 3.21, a current ratio of 5.74 and a debt-to-equity ratio of 0.14. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 6.38 and a beta of 0.90. Reliance, Inc. has a 52-week low of $237.14 and a 52-week high of $342.20.

Reliance (NYSE:RSGet Free Report) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.21). The business 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%. Reliance’s revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business earned $6.37 EPS. As a group, research analysts anticipate that Reliance, Inc. will post 19.63 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a dividend of $1.10 per share. The ex-dividend date was Thursday, May 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.55%. Reliance’s dividend payout ratio is currently 20.55%.

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.

Featured Stories

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance, Inc. (NYSE:RSFree Report).

Institutional Ownership by Quarter for Reliance (NYSE:RS)

Receive News & Ratings for Reliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance and related companies with MarketBeat.com's FREE daily email newsletter.