Diversified Trust Co Has $2.05 Million Stock Position in Reliance, Inc. (NYSE:RS)

Diversified Trust Co raised its stake in Reliance, Inc. (NYSE:RS) by 18.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,121 shares of the industrial products company’s stock after purchasing an additional 943 shares during the period. Diversified Trust Co’s holdings in Reliance were worth $2,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in shares of Reliance in the 1st quarter worth about $25,000. Contravisory Investment Management Inc. acquired a new position in Reliance in the first quarter valued at about $30,000. Partnership Wealth Management LLC bought a new position in Reliance during the fourth quarter worth about $43,000. Rise Advisors LLC bought a new position in Reliance during the first quarter worth about $49,000. Finally, Blue Trust Inc. boosted its holdings in Reliance by 187.9% during the fourth quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock worth $75,000 after buying an additional 186 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Activity at Reliance

In other Reliance news, COO Stephen Paul Koch sold 20,421 shares of Reliance stock in a transaction on Friday, May 31st. The stock was sold at an average price of $295.38, for a total value of $6,031,954.98. Following the completion of the transaction, the chief operating officer now directly owns 7,552 shares of the company’s stock, valued at approximately $2,230,709.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director James Donald Hoffman sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $289.81, for a total transaction of $1,449,050.00. Following the completion of the transaction, the director now owns 49,042 shares of the company’s stock, valued at approximately $14,212,862.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen Paul Koch sold 20,421 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $295.38, for a total value of $6,031,954.98. Following the completion of the transaction, the chief operating officer now directly owns 7,552 shares of the company’s stock, valued at approximately $2,230,709.76. The disclosure for this sale can be found here. Insiders sold 40,421 shares of company stock worth $11,866,855 in the last ninety days. 0.69% of the stock is owned by company insiders.

Reliance Stock Performance

Shares of NYSE RS traded down $4.35 during midday trading on Monday, hitting $281.25. 90,958 shares of the company’s stock were exchanged, compared to its average volume of 297,505. The company has a quick ratio of 3.21, a current ratio of 5.74 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a 12 month low of $237.14 and a 12 month high of $342.20. The company’s 50 day moving average price is $292.28 and its 200 day moving average price is $300.60. The firm has a market capitalization of $16.15 billion, a PE ratio of 13.14 and a beta of 0.87.

Reliance (NYSE:RS) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.21). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.76 billion. Reliance had a net margin of 8.67% and a return on equity of 16.26%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $6.37 earnings per share. As a group, analysts predict that Reliance, Inc. will post 18.66 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a $1.10 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $4.40 annualized dividend and a yield of 1.56%. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RS. StockNews.com cut Reliance from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Bank of America dropped their price target on Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets dropped their target price on Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and lifted their target price for the company from $280.00 to $380.00 in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $355.50.

About Reliance

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.