Keybank National Association OH Has $459,000 Holdings in Reliance, Inc. (NYSE:RS)

Keybank National Association OH lifted its position in shares of Reliance, Inc. (NYSE:RS) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,703 shares of the industrial products company’s stock after buying an additional 137 shares during the quarter. Keybank National Association OH’s holdings in Reliance were worth $459,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. SpiderRock Advisors LLC acquired a new stake in Reliance in the third quarter worth $707,000. Verdence Capital Advisors LLC acquired a new stake in Reliance in the third quarter worth $203,000. Assetmark Inc. grew its holdings in Reliance by 24.2% in the third quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock worth $8,074,000 after purchasing an additional 5,431 shares during the period. Covestor Ltd grew its holdings in Reliance by 17.6% in the third quarter. Covestor Ltd now owns 462 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 69 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Reliance by 21.6% in the third quarter. Crossmark Global Holdings Inc. now owns 4,437 shares of the industrial products company’s stock worth $1,284,000 after purchasing an additional 788 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Up 1.9 %

Shares of NYSE RS opened at $288.72 on Monday. The stock has a market capitalization of $15.29 billion, a P/E ratio of 18.70 and a beta of 0.87. The company has a 50-day moving average price of $285.62 and a 200-day moving average price of $289.99. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58.

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

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $1.20 per share. This is a positive change from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, March 7th. Reliance’s dividend payout ratio (DPR) is presently 31.09%.

Insider Activity at Reliance

In related news, CEO Karla R. Lewis sold 31,136 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 90,230 shares of the company’s stock, valued at $27,115,919.60. This trade represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by insiders.

Analysts Set New Price Targets

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