Reliance, Inc. (NYSE:RS) Shares Sold by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC decreased its holdings in Reliance, Inc. (NYSE:RS) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,633 shares of the industrial products company’s stock after selling 64 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in Reliance were worth $440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James & Associates boosted its position in shares of Reliance by 26.1% in the 3rd quarter. Raymond James & Associates now owns 33,713 shares of the industrial products company’s stock valued at $9,750,000 after purchasing an additional 6,985 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Reliance by 27,269.0% in the third quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company’s stock worth $32,453,000 after buying an additional 111,803 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Reliance by 9.7% during the third quarter. Assenagon Asset Management S.A. now owns 8,769 shares of the industrial products company’s stock valued at $2,536,000 after acquiring an additional 777 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Reliance by 112.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,569 shares of the industrial products company’s stock worth $2,482,000 after purchasing an additional 4,537 shares during the period. Finally, Forsta AP Fonden boosted its stake in Reliance by 6.6% in the 3rd quarter. Forsta AP Fonden now owns 11,300 shares of the industrial products company’s stock worth $3,268,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. KeyCorp raised their price objective on Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, The Goldman Sachs Group started coverage on Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Reliance currently has an average rating of “Hold” and a consensus target price of $329.17.

Reliance Stock Performance

Shares of NYSE RS opened at $299.55 on Tuesday. The business’s 50-day simple moving average is $282.16 and its 200-day simple moving average is $289.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20. The firm has a market cap of $16.21 billion, a price-to-earnings ratio of 19.40 and a beta of 0.90.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52). Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.04 billion. As a group, equities research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, March 7th. This is a boost from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.60%. Reliance’s payout ratio is currently 31.09%.

Insider Activity

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 85,117 shares of the company’s stock, valued at $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.69% of the stock is currently owned by company insiders.

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.