2,236 Shares in Reliance, Inc. (NYSE:RS) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC bought a new position in Reliance, Inc. (NYSE:RS) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,236 shares of the industrial products company’s stock, valued at approximately $625,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lindbrook Capital LLC raised its holdings in shares of Reliance by 8.4% in the 4th quarter. Lindbrook Capital LLC now owns 480 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 37 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Reliance by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 1,023 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 41 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Reliance by 0.3% in the 4th quarter. Arizona State Retirement System now owns 16,094 shares of the industrial products company’s stock worth $4,501,000 after acquiring an additional 54 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Reliance by 6.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 907 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 54 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Reliance by 0.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,010 shares of the industrial products company’s stock worth $3,639,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

RS has been the subject of several analyst reports. BMO Capital Markets decreased their price objective on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Citigroup lowered shares of Reliance from a “buy” rating to a “neutral” rating and increased their price objective for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. Finally, StockNews.com lowered shares of Reliance from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th.

Insider Activity

In other news, COO Stephen Paul Koch sold 20,421 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $295.38, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Stephen Paul Koch sold 20,421 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Donald Hoffman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $290.04, for a total transaction of $1,450,200.00. Following the completion of the transaction, the director now directly owns 44,042 shares of the company’s stock, valued at $12,773,941.68. The disclosure for this sale can be found here. Insiders sold 40,421 shares of company stock valued at $11,866,855 in the last three months. Company insiders own 0.69% of the company’s stock.

Reliance Trading Down 0.5 %

NYSE:RS opened at $283.32 on Wednesday. Reliance, Inc. has a 52 week low of $237.14 and a 52 week high of $342.20. The firm has a 50-day moving average price of $299.09 and a two-hundred day moving average price of $299.86. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 13.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74.

Reliance (NYSE:RS) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.21). Reliance had a net margin of 8.67% and a return on equity of 16.26%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the company earned $6.37 earnings per share. The firm’s revenue was down 8.1% on a year-over-year basis. On average, equities analysts expect that Reliance, Inc. will post 18.77 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, May 23rd. Reliance’s dividend payout ratio is currently 20.55%.

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.