GAMMA Investing LLC Boosts Stock Position in Reliance, Inc. (NYSE:RS)

GAMMA Investing LLC boosted its stake in shares of Reliance, Inc. (NYSE:RS) by 18.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 823 shares of the industrial products company’s stock after acquiring an additional 126 shares during the quarter. GAMMA Investing LLC’s holdings in Reliance were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Reliance during the third quarter worth $41,000. Versant Capital Management Inc lifted its stake in shares of Reliance by 157.8% in the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 131 shares during the period. UMB Bank n.a. boosted its holdings 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 in the last quarter. National Bank of Canada FI increased its stake in shares of Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 41 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Reliance during the third quarter worth about $78,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Reliance

In other Reliance news, Director Mark V. Kaminski sold 5,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Karla R. Lewis sold 3,892 shares of Reliance stock in a transaction dated 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 owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,724 shares of company stock worth $6,856,500. 0.69% of the stock is owned by insiders.

Reliance Stock Down 0.3 %

RS opened at $270.57 on Wednesday. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 14.86 and a beta of 0.91. The business’s fifty day moving average is $296.94 and its two-hundred day moving average is $290.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31.

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

Reliance Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RS shares. BMO Capital Markets dropped their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group assumed coverage on Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective on the stock. Finally, KeyCorp reduced their target price on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $328.83.

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.