Proficio Capital Partners LLC Buys Shares of 27,304 Reliance, Inc. (NYSE:RS)

Proficio Capital Partners LLC bought a new stake in Reliance, Inc. (NYSE:RS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,304 shares of the industrial products company’s stock, valued at approximately $7,352,000. Proficio Capital Partners LLC owned about 0.05% of Reliance as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RS. Quarry LP bought a new stake in shares of Reliance in the 3rd quarter worth approximately $41,000. Versant Capital Management Inc lifted its position 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. Brooklyn Investment Group bought a new stake in shares of Reliance in the 3rd quarter worth approximately $78,000. Jones Financial Companies Lllp lifted its position in shares of Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 304 shares during the period. Finally, Providence First Trust Co bought a new stake in shares of Reliance in the 4th quarter worth approximately $90,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Buying and Selling

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by insiders.

Reliance Stock Up 1.5 %

NYSE RS opened at $283.15 on Monday. The stock has a fifty day moving average of $286.94 and a 200-day moving average of $289.96. The stock has a market capitalization of $15.00 billion, a P/E ratio of 18.34 and a beta of 0.87. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21.

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

Reliance Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. KeyCorp raised their target price on Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group assumed coverage on Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $329.17.

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.