Jones Financial Companies Lllp Has $89,000 Stake in Reliance, Inc. (NYSE:RS)

Jones Financial Companies Lllp increased its holdings in Reliance, Inc. (NYSE:RS) by 1,216.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329 shares of the industrial products company’s stock after buying an additional 304 shares during the period. Jones Financial Companies Lllp’s holdings in Reliance were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in shares of Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock valued at $219,841,000 after buying an additional 803,730 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Reliance by 53.5% in the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock valued at $195,402,000 after buying an additional 252,955 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Reliance by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 503,400 shares of the industrial products company’s stock valued at $135,546,000 after buying an additional 25,750 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Reliance by 7.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 296,033 shares of the industrial products company’s stock valued at $85,616,000 after buying an additional 20,056 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Reliance by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 285,871 shares of the industrial products company’s stock valued at $82,677,000 after buying an additional 1,499 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Up 1.5 %

Shares of RS opened at $283.15 on Monday. 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 $15.00 billion, a P/E ratio of 18.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $286.94 and a two-hundred day simple moving average of $289.96.

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

Reliance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Reliance’s previous quarterly dividend of $1.10. Reliance’s payout ratio is presently 31.09%.

Insiders Place Their Bets

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the sale, the chief executive officer now owns 90,230 shares of the company’s stock, valued at approximately $27,115,919.60. The trade was a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

RS has been the subject of a number of analyst reports. KeyCorp lifted their price target on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group initiated coverage on shares of Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $329.17.

About Reliance

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.