Uncommon Cents Investing LLC Sells 60 Shares of Reliance, Inc. (NYSE:RS)

Uncommon Cents Investing LLC cut its holdings in Reliance, Inc. (NYSE:RS) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,355 shares of the industrial products company’s stock after selling 60 shares during the period. Uncommon Cents Investing LLC’s holdings in Reliance were worth $379,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new stake in Reliance in the third quarter worth $33,000. Catalyst Capital Advisors LLC bought a new position in shares of Reliance during the third quarter valued at about $33,000. Worth Asset Management LLC bought a new position in shares of Reliance during the first quarter valued at about $28,000. Altshuler Shaham Ltd raised its stake in shares of Reliance by 183.6% during the third quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 134 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Reliance by 160.0% during the first quarter. Advisory Services Network LLC now owns 221 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 136 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RS. KeyCorp upped their price objective on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. BMO Capital Markets boosted their price target on shares of Reliance from $295.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th.

Insider Activity

In other news, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the sale, the chief executive officer now owns 84,534 shares in the company, valued at $26,963,809.98. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Karla R. Lewis sold 42,346 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $318.97, for a total value of $13,507,103.62. Following the sale, the chief executive officer now owns 84,534 shares in the company, valued at $26,963,809.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Arthur Ajemyan sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total transaction of $968,850.00. Following the completion of the sale, the chief financial officer now owns 15,577 shares in the company, valued at approximately $5,030,592.15. The disclosure for this sale can be found here. Insiders have sold a total of 85,996 shares of company stock worth $27,603,878 over the last 90 days. 0.62% of the stock is currently owned by insiders.

Reliance Stock Down 0.8 %

Shares of NYSE RS traded down $2.72 on Thursday, reaching $334.18. 214,462 shares of the company’s stock traded hands, compared to its average volume of 249,247. Reliance, Inc. has a 12 month low of $229.12 and a 12 month high of $337.11. The business’s 50 day simple moving average is $309.62 and its two-hundred day simple moving average is $282.15. The company has a market cap of $19.19 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 4.73 and a beta of 0.87. The company has a quick ratio of 3.23, a current ratio of 5.66 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS) last announced its earnings results on Thursday, February 15th. The industrial products company reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.81. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter last year, the firm earned $5.87 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, equities research analysts forecast that Reliance, Inc. will post 19.34 EPS for the current fiscal year.

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.10 per share. This is a boost from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 7th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.32%. Reliance’s dividend payout ratio is presently 19.46%.

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.