Reliance, Inc. (NYSE:RS) Shares Sold by Eagle Strategies LLC

Eagle Strategies LLC cut its holdings in shares of Reliance, Inc. (NYSE:RS) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,342 shares of the industrial products company’s stock after selling 86 shares during the period. Eagle Strategies LLC’s holdings in Reliance were worth $1,214,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RS. Raymond James Financial Services Advisors Inc. grew its stake in shares of Reliance by 212.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,876 shares of the industrial products company’s stock valued at $1,261,000 after acquiring an additional 4,672 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Reliance by 0.8% during the first quarter. American Century Companies Inc. now owns 11,264 shares of the industrial products company’s stock worth $2,065,000 after purchasing an additional 88 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of Reliance during the first quarter worth about $1,533,000. Great West Life Assurance Co. Can lifted its position in shares of Reliance by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 40,567 shares of the industrial products company’s stock worth $7,679,000 after purchasing an additional 3,058 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Reliance by 14.6% during the first quarter. Sei Investments Co. now owns 35,984 shares of the industrial products company’s stock worth $6,602,000 after purchasing an additional 4,573 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on RS. BMO Capital Markets increased their price target on shares of Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. KeyCorp raised their target price on shares of Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a report on Friday, February 16th.

Insider Buying and Selling

In other Reliance news, Director James Donald Hoffman sold 40,000 shares of Reliance stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $322.95, for a total transaction of $12,918,000.00. Following the completion of the sale, the director now owns 54,042 shares of the company’s stock, valued at approximately $17,452,863.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Karla R. Lewis sold 650 shares of Reliance stock in a transaction on Friday, February 16th. The shares were sold at an average price of $322.96, for a total value of $209,924.00. Following the completion of the sale, the chief executive officer now owns 83,884 shares of the company’s stock, valued at approximately $27,091,176.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Donald Hoffman sold 40,000 shares of Reliance stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $322.95, for a total transaction of $12,918,000.00. Following the completion of the sale, the director now directly owns 54,042 shares of the company’s stock, valued at approximately $17,452,863.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,996 shares of company stock valued at $27,603,878. Company insiders own 0.62% of the company’s stock.

Reliance Price Performance

Shares of NYSE RS traded down $3.94 during mid-day trading on Wednesday, reaching $332.01. 189,749 shares of the company traded hands, compared to its average volume of 243,814. Reliance, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $342.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.66 and a quick ratio of 3.23. The firm has a market cap of $19.07 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 4.82 and a beta of 0.87. The stock has a fifty day simple moving average of $319.23 and a 200-day simple moving average of $286.83.

Reliance (NYSE:RS) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.81. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.31 billion. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.87 earnings per share. Equities research analysts anticipate that Reliance, Inc. will post 19.34 EPS for the current fiscal year.

Reliance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $1.10 dividend. This is a positive change from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.40 dividend on an annualized basis and a yield of 1.33%. Reliance’s dividend payout ratio (DPR) is currently 19.46%.

Reliance 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.