Reliance, Inc. (NYSE:RS) Shares Sold by Sprott Inc.

Sprott Inc. cut its position in shares of Reliance, Inc. (NYSE:RS) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,560 shares of the industrial products company’s stock after selling 100 shares during the period. Sprott Inc. owned 0.08% of Reliance worth $11,190,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RS. Raymond James & Associates boosted its stake in shares of Reliance by 26.1% during the 3rd quarter. Raymond James & Associates now owns 33,713 shares of the industrial products company’s stock worth $9,750,000 after acquiring an additional 6,985 shares in the last quarter. International Assets Investment Management LLC boosted its position in Reliance by 27,269.0% during the third quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company’s stock worth $32,453,000 after purchasing an additional 111,803 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Reliance by 9.7% during the third quarter. Assenagon Asset Management S.A. now owns 8,769 shares of the industrial products company’s stock worth $2,536,000 after purchasing an additional 777 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Reliance by 112.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,569 shares of the industrial products company’s stock valued at $2,482,000 after purchasing an additional 4,537 shares during the period. Finally, Forsta AP Fonden lifted its position in shares of Reliance by 6.6% during the 3rd quarter. Forsta AP Fonden now owns 11,300 shares of the industrial products company’s stock valued at $3,268,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Karla R. Lewis sold 31,136 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the completion of the sale, the chief executive officer now directly owns 90,230 shares in the company, valued at approximately $27,115,919.60. This trade represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by corporate insiders.

Reliance Price Performance

Shares of NYSE RS opened at $296.22 on Wednesday. The firm has a 50-day simple moving average of $282.48 and a 200-day simple moving average of $289.55. 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 stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 19.19 and a beta of 0.90. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52). The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. On average, equities analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $1.20 per share. This is an increase from Reliance’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.80 dividend on an annualized basis and a yield of 1.62%. Reliance’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RS. The Goldman Sachs Group assumed coverage on shares of Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target on the stock. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, KeyCorp upped their price target on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $329.17.

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.