Focus Partners Wealth Purchases 172 Shares of Reliance, Inc. (NYSE:RS)

Focus Partners Wealth increased its position in shares of Reliance, Inc. (NYSE:RS) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,519 shares of the industrial products company’s stock after acquiring an additional 172 shares during the period. Focus Partners Wealth’s holdings in Reliance were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RS. Coppell Advisory Solutions LLC grew its stake in Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company’s stock worth $49,000 after buying an additional 128 shares in the last quarter. Transce3nd LLC bought a new position in Reliance in the 4th quarter worth $58,000. Quarry LP raised its holdings in Reliance by 83.7% in the 4th quarter. Quarry LP now owns 259 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 118 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 304 shares in the last quarter. Finally, Providence First Trust Co bought a new position in shares of Reliance in the 4th quarter worth about $90,000. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Down 0.2%

NYSE RS opened at $303.71 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $285.84 and a two-hundred day moving average of $290.26. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 19.67 and a beta of 0.91. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $326.87.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.11. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.30 earnings per share. On average, analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.58%. Reliance’s dividend payout ratio (DPR) is presently 34.41%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp increased their price objective on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and an average target price of $319.00.

Insiders Place Their Bets

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the transaction, the chief executive officer now owns 90,230 shares in the company, valued at approximately $27,115,919.60. This trade represents a 25.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

About Reliance

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.