Mitsubishi UFJ Asset Management Co. Ltd. Has $11.21 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Reliance, Inc. (NYSE:RS) by 12.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,849 shares of the industrial products company’s stock after buying an additional 4,500 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Reliance worth $11,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RS. Quarry LP purchased a new stake in shares of Reliance during the third quarter worth $41,000. Versant Capital Management Inc increased its position in 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 purchasing an additional 131 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Reliance by 1,216.0% during the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 304 shares in the last quarter. Providence First Trust Co acquired a new stake in shares of Reliance during the 4th quarter valued at about $90,000. Finally, UMB Bank n.a. grew its stake in shares of Reliance by 41.8% in the 4th quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock valued at $95,000 after buying an additional 104 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Performance

NYSE:RS opened at $288.72 on Tuesday. The firm has a market capitalization of $15.29 billion, a PE ratio of 18.70 and a beta of 0.87. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $289.02 and its 200 day simple moving average is $290.74.

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

Reliance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $1.20 per share. The ex-dividend date was Friday, March 7th. 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%. Reliance’s payout ratio is 31.09%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RS shares. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group assumed coverage on shares of Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target on the stock. Finally, KeyCorp upped their price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $329.17.

Insider Activity

In other news, CEO Karla R. Lewis sold 31,136 shares of the company’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 completion of the transaction, the chief executive officer now owns 90,230 shares of the company’s stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by company insiders.

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.