Reliance, Inc. (NYSE:RS) Shares Purchased by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Reliance, Inc. (NYSE:RS) by 2.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 148,730 shares of the industrial products company’s stock after purchasing an additional 4,007 shares during the period. Reliance makes up about 2.5% of Deroy & Devereaux Private Investment Counsel Inc.’s holdings, making the stock its 3rd largest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Reliance were worth $43,014,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RS. Innealta Capital LLC purchased a new stake in Reliance in the 2nd quarter valued at about $28,000. UMB Bank n.a. grew its holdings in Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after buying an additional 53 shares during the period. National Bank of Canada FI grew its holdings in Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after buying an additional 41 shares during the period. Headlands Technologies LLC purchased a new stake in Reliance in the 1st quarter valued at about $86,000. Finally, International Assets Investment Management LLC purchased a new stake in Reliance in the 2nd quarter valued at about $117,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Buying and Selling at Reliance

In other news, Director Mark V. Kaminski sold 5,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $298.01, for a total transaction of $1,490,050.00. 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 currently owned by company insiders.

Reliance Stock Performance

RS stock opened at $286.34 on Friday. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The firm has a market cap of $15.75 billion, a P/E ratio of 15.72 and a beta of 0.85. Reliance, Inc. has a 12-month low of $251.46 and a 12-month high of $342.20. The stock’s 50 day simple moving average is $284.42 and its 200 day simple moving average is $290.12.

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 firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $5.00 earnings per share. As a group, equities research analysts predict that Reliance, Inc. will post 16.96 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, November 22nd. Reliance’s dividend payout ratio is presently 24.16%.

Analyst Ratings Changes

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

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.