Reliance, Inc. (NYSE:RS) Shares Bought by Curi RMB Capital LLC

Curi RMB Capital LLC raised its stake in Reliance, Inc. (NYSE:RS) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,637 shares of the industrial products company’s stock after acquiring an additional 155 shares during the period. Curi RMB Capital LLC’s holdings in Reliance were worth $2,209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its position in shares of Reliance by 8.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 988 shares of the industrial products company’s stock worth $330,000 after buying an additional 81 shares during the period. Empowered Funds LLC acquired a new position in shares of Reliance during the first quarter worth approximately $421,000. SG Americas Securities LLC boosted its position in shares of Reliance by 98.8% during the first quarter. SG Americas Securities LLC now owns 2,368 shares of the industrial products company’s stock worth $791,000 after buying an additional 1,177 shares during the period. Bleakley Financial Group LLC acquired a new position in shares of Reliance during the first quarter worth approximately $237,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Reliance by 10.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 30,181 shares of the industrial products company’s stock worth $10,086,000 after buying an additional 2,761 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. KeyCorp reduced their price objective on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Wolfe Research cut Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a report on Friday, July 26th. Finally, BMO Capital Markets dropped their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $326.40.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 6,332 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the transaction, the chief financial officer now directly owns 9,245 shares in the company, valued at $2,941,574.10. The trade was a 40.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark V. Kaminski sold 5,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,832 shares of company stock valued at $5,595,881 in the last three months. 0.69% of the stock is currently owned by company insiders.

Reliance Price Performance

NYSE RS opened at $310.33 on Friday. The stock has a market capitalization of $16.80 billion, a P/E ratio of 17.04 and a beta of 0.85. Reliance, Inc. has a 1 year low of $261.77 and a 1 year high of $342.20. The business’s fifty day moving average is $291.32 and its two-hundred day moving average is $289.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31.

Reliance (NYSE:RS) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.02). The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. Reliance’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $5.00 EPS. On average, research analysts forecast that Reliance, Inc. will post 16.45 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, November 22nd. Reliance’s dividend payout ratio (DPR) is currently 24.16%.

Reliance 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.