Stifel Financial Corp Has $228,000 Stock Holdings in Reliance, Inc. (NYSE:RS)

Stifel Financial Corp lowered its stake in Reliance, Inc. (NYSE:RS) by 93.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 788 shares of the industrial products company’s stock after selling 12,046 shares during the quarter. Stifel Financial Corp’s holdings in Reliance were worth $228,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP acquired a new stake in Reliance in the 3rd quarter valued at $41,000. UMB Bank n.a. increased its position 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 valued at $72,000 after acquiring an additional 53 shares during the last quarter. National Bank of Canada FI increased its position in shares of Reliance by 17.9% in the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 41 shares during the last quarter. Brooklyn Investment Group bought a new stake in Reliance during the third quarter worth about $78,000. Finally, International Assets Investment Management LLC acquired a new position in Reliance during the second quarter valued at approximately $117,000. 79.26% of the stock is owned by institutional investors.

Insider Activity at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the sale, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $298.01, for a total value of $1,490,050.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,724 shares of company stock worth $6,856,500. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

RS has been the topic of several recent analyst reports. BMO Capital Markets lowered their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. KeyCorp lowered their target price on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target for the company. 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 company. According to data from MarketBeat, Reliance presently has a consensus rating of “Hold” and a consensus target price of $328.83.

Reliance Trading Down 0.6 %

Shares of Reliance stock opened at $269.73 on Monday. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 14.81 and a beta of 0.87. The business has a fifty day simple moving average of $300.02 and a two-hundred day simple moving average of $290.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58.

Reliance (NYSE:RS) last announced its earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.02). The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.00 EPS. Research analysts forecast that Reliance, Inc. will post 16.42 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a $1.10 dividend. The ex-dividend date was Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.63%. Reliance’s payout ratio is presently 24.16%.

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.