Integrated Advisors Network LLC Acquires 85 Shares of Reliance, Inc. (NYSE:RS)

Integrated Advisors Network LLC boosted its holdings in shares of Reliance, Inc. (NYSE:RS) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,130 shares of the industrial products company’s stock after acquiring an additional 85 shares during the quarter. Integrated Advisors Network LLC’s holdings in Reliance were worth $327,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Reliance in the 2nd quarter worth approximately $28,000. UMB Bank n.a. lifted its position in shares of Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 53 shares during the period. National Bank of Canada FI lifted its position in shares of Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 41 shares during the period. Headlands Technologies LLC acquired a new position in shares of Reliance in the 1st quarter worth approximately $86,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Reliance in the 2nd quarter worth approximately $117,000. 79.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Reliance

In other news, Director Mark V. Kaminski sold 5,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $298.01, for a total value of $1,490,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Reliance Stock Up 0.3 %

Reliance stock opened at $287.09 on Friday. The company has a market capitalization of $15.79 billion, a PE ratio of 15.77 and a beta of 0.85. The firm’s fifty day moving average is $284.57 and its 200 day moving average is $290.10. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. Reliance, Inc. has a 12-month low of $261.77 and a 12-month high of $342.20.

Reliance (NYSE:RS) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $5.00 EPS. As a group, sell-side analysts predict that Reliance, Inc. will post 16.96 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.53%. Reliance’s dividend payout ratio (DPR) is presently 24.16%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. KeyCorp dropped their price target on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. BMO Capital Markets dropped their target price on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Wolfe Research downgraded shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $326.40.

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.