Reliance, Inc. (NYSE:RS) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its holdings in shares of Reliance, Inc. (NYSE:RS) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,715 shares of the industrial products company’s stock after purchasing an additional 49 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Reliance were worth $2,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fulton Bank N.A. grew its holdings in Reliance by 11.3% in the 4th quarter. Fulton Bank N.A. now owns 1,747 shares of the industrial products company’s stock valued at $470,000 after buying an additional 177 shares during the period. Oliver Luxxe Assets LLC grew its holdings in Reliance by 5.0% in the fourth quarter. Oliver Luxxe Assets LLC now owns 21,176 shares of the industrial products company’s stock valued at $5,702,000 after purchasing an additional 1,002 shares during the period. Nordea Investment Management AB increased its position in Reliance by 11.0% during the fourth quarter. Nordea Investment Management AB now owns 4,951 shares of the industrial products company’s stock worth $1,332,000 after purchasing an additional 489 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Reliance during the fourth quarter worth approximately $302,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Reliance by 18.1% in the 4th quarter. GAMMA Investing LLC now owns 823 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Activity at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the sale, the chief executive officer now owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of the stock in a transaction dated Monday, October 28th. The stock was 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. Over the last 90 days, insiders sold 21,724 shares of company stock valued at $6,856,500. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the subject of a number of research analyst reports. BMO Capital Markets cut 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. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday. The Goldman Sachs Group started coverage on Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price for the company. Finally, KeyCorp cut their price target on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $328.83.

Reliance Stock Up 0.1 %

NYSE RS opened at $267.72 on Friday. 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 fifty-two week low of $256.98 and a fifty-two week high of $342.20. The business has a 50 day moving average price of $295.72 and a two-hundred day moving average price of $290.02. The stock has a market cap of $14.49 billion, a PE ratio of 14.70 and a beta of 0.91.

Reliance (NYSE:RS) last announced its earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the company posted $5.00 earnings per share. Reliance’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Reliance, Inc. will post 16.42 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, November 22nd. Reliance’s dividend payout ratio (DPR) is 24.16%.

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.