Reliance, Inc. (NYSE:RS) Holdings Decreased by Kathmere Capital Management LLC

Kathmere Capital Management LLC decreased its stake in shares of Reliance, Inc. (NYSE:RS) by 13.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 859 shares of the industrial products company’s stock after selling 136 shares during the period. Kathmere Capital Management LLC’s holdings in Reliance were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Astoria Portfolio Advisors LLC. raised its position in Reliance by 4.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 778 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 36 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Reliance by 8.4% during the fourth quarter. Lindbrook Capital LLC now owns 480 shares of the industrial products company’s stock worth $134,000 after buying an additional 37 shares in the last quarter. Rational Advisors LLC increased its holdings in shares of Reliance by 33.6% in the first quarter. Rational Advisors LLC now owns 159 shares of the industrial products company’s stock valued at $53,000 after buying an additional 40 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Reliance by 4.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,023 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 41 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Reliance by 0.3% in the 4th quarter. Arizona State Retirement System now owns 16,094 shares of the industrial products company’s stock valued at $4,501,000 after purchasing an additional 54 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Performance

RS traded down $8.73 on Friday, hitting $287.22. 402,335 shares of the stock traded hands, compared to its average volume of 386,900. The business has a fifty day moving average price of $290.99 and a two-hundred day moving average price of $303.26. The company has a current ratio of 5.02, a quick ratio of 2.43 and a debt-to-equity ratio of 0.15. Reliance, Inc. has a 52 week low of $237.14 and a 52 week high of $342.20. The firm has a market capitalization of $16.50 billion, a PE ratio of 13.42 and a beta of 0.86.

Reliance (NYSE:RS) last issued its earnings results on Thursday, July 25th. The industrial products company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.08). The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Reliance had a net margin of 7.99% and a return on equity of 14.73%. Reliance’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $6.49 earnings per share. On average, research analysts predict that Reliance, Inc. will post 18.06 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, August 16th. This represents a $4.40 annualized dividend and a yield of 1.53%. Reliance’s dividend payout ratio is 20.55%.

Insider Transactions at Reliance

In related news, COO Stephen Paul Koch sold 20,421 shares of Reliance stock in a transaction dated 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 of the company’s stock, valued at $2,230,709.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Reliance news, COO Stephen Paul Koch sold 20,421 shares of the company’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 transaction, the chief operating officer now owns 7,552 shares of the company’s stock, valued at approximately $2,230,709.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Donald Hoffman sold 5,000 shares of Reliance stock in a transaction on 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 completion of the sale, the director now directly owns 34,042 shares of the company’s stock, valued at $10,020,603.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,421 shares of company stock valued at $8,967,605. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup downgraded 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 report on Thursday, April 11th. StockNews.com cut shares of Reliance from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Bank of America cut their target price on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Wolfe Research cut shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price target on the stock. in a report on Friday, July 26th. Finally, BMO Capital Markets reduced their price objective on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $329.40.

Reliance Company 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.