Fractal Investments LLC Trims Stake in Reliance, Inc. (NYSE:RS)

Fractal Investments LLC reduced its position in shares of Reliance, Inc. (NYSE:RS) by 56.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. Fractal Investments LLC’s holdings in Reliance were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new position in Reliance during the 3rd quarter worth $33,000. Catalyst Capital Advisors LLC purchased a new position in Reliance during the 3rd quarter worth $33,000. Altshuler Shaham Ltd increased its holdings in Reliance by 183.6% during the 3rd quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 134 shares during the period. UMB Bank n.a. increased its holdings in Reliance by 26.4% during the 3rd quarter. UMB Bank n.a. now owns 230 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 48 shares during the period. Finally, Blue Trust Inc. increased its holdings in Reliance by 187.9% during the 4th quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 186 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Reliance

In other Reliance news, CEO Karla R. Lewis sold 42,346 shares of Reliance stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the completion of the sale, the chief executive officer now owns 84,534 shares of the company’s stock, valued at approximately $26,963,809.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Reliance news, CEO Karla R. Lewis sold 42,346 shares of Reliance stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the completion of the sale, the chief executive officer now owns 84,534 shares of the company’s stock, valued at approximately $26,963,809.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Donald Hoffman sold 40,000 shares of Reliance stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total value of $12,918,000.00. Following 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. Insiders sold 85,996 shares of company stock valued at $27,603,878 in the last quarter. 0.69% of the stock is currently owned by corporate insiders.

Reliance Stock Down 0.1 %

Shares of Reliance stock traded down $0.45 during trading on Wednesday, reaching $313.49. The company’s stock had a trading volume of 300,993 shares, compared to its average volume of 237,314. The company has a quick ratio of 3.23, a current ratio of 5.66 and a debt-to-equity ratio of 0.15. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 5.63 and a beta of 0.87. Reliance, Inc. has a 1-year low of $229.12 and a 1-year high of $342.20. The company has a 50-day simple moving average of $325.31 and a two-hundred day simple moving average of $291.25.

Reliance (NYSE:RS) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.81. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Reliance had a return on equity of 17.53% and a net margin of 9.02%. The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.87 EPS. As a group, equities analysts forecast that Reliance, Inc. will post 19.51 earnings per share for the current year.

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.10 dividend. This is a boost from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 7th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.40%. Reliance’s dividend payout ratio (DPR) is presently 19.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RS shares. KeyCorp lifted their price target on Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a report on Friday, February 16th. 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. Finally, BMO Capital Markets lifted their price target on Reliance from $295.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $365.67.

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.