Versant Capital Management Inc Purchases 131 Shares of Reliance, Inc. (NYSE:RS)

Versant Capital Management Inc boosted its position in shares of Reliance, Inc. (NYSE:RS) by 157.8% in the fourth quarter, Holdings Channel reports. The fund owned 214 shares of the industrial products company’s stock after purchasing an additional 131 shares during the quarter. Versant Capital Management Inc’s holdings in Reliance were worth $58,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Reliance during the 3rd quarter valued at about $41,000. UMB Bank n.a. boosted its holdings in shares of Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after buying an additional 53 shares during the last quarter. National Bank of Canada FI grew its position in Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after buying an additional 41 shares during the period. Brooklyn Investment Group purchased a new stake in Reliance during the third quarter valued at approximately $78,000. Finally, Covestor Ltd raised its position in Reliance by 17.6% in the third quarter. Covestor Ltd now owns 462 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 69 shares during the period. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Shares of Reliance stock opened at $267.75 on Monday. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 14.70 and a beta of 0.91. 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 stock’s 50-day simple moving average is $297.94 and its 200-day simple moving average is $290.52. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20.

Reliance (NYSE:RS) last posted its quarterly 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 return on equity of 13.68% and a net margin of 7.42%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned $5.00 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts expect that Reliance, Inc. will post 16.42 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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

Analysts Set New Price Targets

RS has been the subject of a number of recent research reports. The Goldman Sachs Group assumed coverage on shares of Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective for the company. BMO Capital Markets reduced their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, KeyCorp decreased their price objective 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 analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $328.83.

Insider Buying and Selling at Reliance

In other news, SVP William A. Smith II sold 6,500 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 16,849 shares in the company, valued at approximately $5,420,491.79. This represents a 27.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of the firm’s stock in a transaction on 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. Insiders sold 21,724 shares of company stock valued at $6,856,500 in the last 90 days. Insiders own 0.69% of the company’s stock.

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.