B. Metzler seel. Sohn & Co. Holding AG Takes $634,000 Position in Reliance, Inc. (NYSE:RS)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Reliance, Inc. (NYSE:RS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,192 shares of the industrial products company’s stock, valued at approximately $634,000.

A number of other institutional investors have also modified their holdings of the company. Archer Investment Corp grew its holdings in Reliance by 307.9% in the third quarter. Archer Investment Corp now owns 1,285 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 970 shares during the period. Dearborn Partners LLC lifted its stake in shares of Reliance by 4.1% in the third quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock worth $24,989,000 after acquiring an additional 3,419 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Reliance by 2.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,634 shares of the industrial products company’s stock valued at $762,000 after buying an additional 62 shares during the last quarter. Metis Global Partners LLC grew its holdings in Reliance by 37.5% during the 3rd quarter. Metis Global Partners LLC now owns 3,508 shares of the industrial products company’s stock worth $1,015,000 after acquiring an additional 956 shares in the last quarter. Finally, Curi RMB Capital LLC lifted its position in shares of Reliance by 2.1% during the third quarter. Curi RMB Capital LLC now owns 7,637 shares of the industrial products company’s stock worth $2,209,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. KeyCorp decreased their target price on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. BMO Capital Markets reduced their price objective on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. One equities 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $326.40.

Reliance Stock Performance

Shares of RS stock opened at $319.27 on Monday. The firm has a market cap of $17.28 billion, a P/E ratio of 17.53 and a beta of 0.85. The stock’s 50-day moving average is $295.33 and its two-hundred day moving average is $290.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. Reliance, Inc. has a fifty-two week low of $261.77 and a fifty-two week high of $342.20.

Reliance (NYSE:RS) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a return on equity of 13.68% and a net margin of 7.42%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm earned $5.00 EPS. Reliance’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts predict that Reliance, Inc. will post 16.45 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, November 22nd. Reliance’s dividend payout ratio is 24.16%.

Insider Buying and Selling

In other Reliance news, SVP William A. Smith II sold 6,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total value of $2,091,115.00. Following the sale, the senior vice president now directly owns 16,849 shares in the company, valued at $5,420,491.79. This trade represents a 27.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $298.01, for a total value of $1,490,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,832 shares of company stock valued at $5,595,881. Insiders own 0.69% of the company’s stock.

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.