Integrated Advisors Network LLC Invests $230,000 in Reliance, Inc. (NYSE:RS)

Integrated Advisors Network LLC acquired a new stake in Reliance, Inc. (NYSE:RS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 823 shares of the industrial products company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Partnership Wealth Management LLC acquired a new stake in Reliance in the fourth quarter valued at $43,000. Blue Trust Inc. increased its holdings in Reliance by 187.9% in the fourth quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 186 shares during the period. Planned Solutions Inc. acquired a new stake in Reliance in the fourth quarter valued at $89,000. GAMMA Investing LLC acquired a new stake in Reliance in the fourth quarter valued at $114,000. Finally, Principal Securities Inc. acquired a new stake in Reliance in the fourth quarter valued at $128,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Price Performance

RS stock opened at $283.19 on Thursday. The stock has a market capitalization of $16.26 billion, a PE ratio of 13.23 and a beta of 0.90. The company’s 50-day moving average is $298.12 and its 200-day moving average is $299.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.74 and a quick ratio of 3.21. Reliance, Inc. has a 1 year low of $237.14 and a 1 year high of $342.20.

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

Reliance Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RS. BMO Capital Markets decreased their price objective on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a report on Friday, April 26th. StockNews.com cut shares of Reliance from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and upped their price target for the company from $280.00 to $380.00 in a research report on Thursday, April 11th.

Insider Buying and Selling

In related news, COO Stephen Paul Koch sold 20,421 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 7,552 shares in the company, valued at approximately $2,230,709.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Stephen Paul Koch sold 20,421 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 7,552 shares in the company, valued at approximately $2,230,709.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Donald Hoffman sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 44,042 shares in the company, valued at approximately $12,773,941.68. The disclosure for this sale can be found here. Insiders have sold 40,421 shares of company stock worth $11,866,855 in the last quarter. Insiders own 0.69% of the company’s stock.

Reliance 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.