Thrivent Financial for Lutherans Has $3.74 Million Holdings in Reliance, Inc. (NYSE:RS)

Thrivent Financial for Lutherans trimmed its position in shares of Reliance, Inc. (NYSE:RSFree Report) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,925 shares of the industrial products company’s stock after selling 951 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Reliance were worth $3,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Assetmark Inc. lifted its stake in Reliance by 24.2% during the third quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock worth $8,074,000 after purchasing an additional 5,431 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Reliance by 292.7% in the second quarter. Harbor Capital Advisors Inc. now owns 3,593 shares of the industrial products company’s stock worth $1,026,000 after acquiring an additional 2,678 shares during the last quarter. Janus Henderson Group PLC increased its stake in Reliance by 96.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,981 shares of the industrial products company’s stock valued at $1,664,000 after purchasing an additional 2,447 shares in the last quarter. AXA S.A. increased its position in shares of Reliance by 5.4% during the second quarter. AXA S.A. now owns 79,334 shares of the industrial products company’s stock valued at $22,658,000 after acquiring an additional 4,032 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Reliance in the first quarter worth $849,000. 79.26% of the stock is owned by institutional investors.

Reliance Trading Up 1.1 %

NYSE RS opened at $322.93 on Tuesday. Reliance, Inc. has a 52 week low of $261.77 and a 52 week high of $342.20. The company has a 50 day moving average price of $296.20 and a 200 day moving average price of $290.96. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The firm has a market cap of $17.48 billion, a PE ratio of 17.73 and a beta of 0.85.

Reliance (NYSE:RSGet Free Report) last posted its earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (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 analyst estimates of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.00 earnings per share. As a group, sell-side analysts forecast that Reliance, Inc. will post 16.45 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $1.10 per share. The ex-dividend date is Friday, November 22nd. This represents a $4.40 annualized dividend and a dividend yield of 1.36%. Reliance’s dividend payout ratio (DPR) is presently 24.16%.

Insider Activity at Reliance

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 stock was sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the completion of the sale, the senior vice president now owns 16,849 shares of the company’s stock, valued at $5,420,491.79. This trade represents a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction of $1,490,050.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,832 shares of company stock valued at $5,595,881. 0.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RS has been the topic of several research reports. BMO Capital Markets dropped their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. KeyCorp decreased their target price on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $326.40.

Get Our Latest Analysis on RS

About Reliance

(Free Report)

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.

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Institutional Ownership by Quarter for Reliance (NYSE:RS)

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