Mitsubishi UFJ Trust & Banking Corp Has $24.46 Million Holdings in Reliance, Inc. (NYSE:RS)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Reliance, Inc. (NYSE:RS) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 90,834 shares of the industrial products company’s stock after selling 11,978 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.17% of Reliance worth $24,458,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RS. Proficio Capital Partners LLC acquired a new position in Reliance in the fourth quarter valued at about $7,352,000. Toronto Dominion Bank raised its position in shares of Reliance by 26.7% in the 3rd quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock valued at $2,371,000 after acquiring an additional 1,729 shares during the period. Pure Financial Advisors LLC boosted its stake in Reliance by 232.9% during the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock worth $2,499,000 after acquiring an additional 6,493 shares during the last quarter. World Investment Advisors LLC acquired a new position in Reliance during the third quarter valued at approximately $4,600,000. Finally, Nordea Investment Management AB increased its stake in Reliance by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 4,951 shares of the industrial products company’s stock valued at $1,332,000 after purchasing an additional 489 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RS shares. KeyCorp lifted their price target on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. The Goldman Sachs Group began coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price for the company. Finally, Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Five 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 currently has an average rating of “Hold” and an average target price of $329.17.

Reliance Trading Down 0.2 %

RS opened at $293.85 on Friday. The firm’s fifty day simple moving average is $289.06 and its 200 day simple moving average is $290.28. The stock has a market capitalization of $15.57 billion, a P/E ratio of 19.03 and a beta of 0.87. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20.

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

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.63%. Reliance’s dividend payout ratio (DPR) is 31.09%.

Insider Transactions at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the sale, the chief executive officer now directly owns 90,230 shares in the company, valued at approximately $27,115,919.60. The trade was a 25.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by 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.