TD Private Client Wealth LLC Purchases 625 Shares of Reliance, Inc. (NYSE:RS)

TD Private Client Wealth LLC increased its position in shares of Reliance, Inc. (NYSE:RS) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,444 shares of the industrial products company’s stock after buying an additional 625 shares during the quarter. TD Private Client Wealth LLC’s holdings in Reliance were worth $927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. lifted its position in Reliance by 6,311.2% during the 4th quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock worth $219,841,000 after buying an additional 803,730 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Reliance by 53.5% in the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock valued at $195,402,000 after acquiring an additional 252,955 shares during the last quarter. Boston Partners raised its holdings in Reliance by 7.6% during the fourth quarter. Boston Partners now owns 716,280 shares of the industrial products company’s stock worth $192,894,000 after acquiring an additional 50,528 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Reliance by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 503,400 shares of the industrial products company’s stock valued at $135,546,000 after purchasing an additional 25,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Reliance by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,453 shares of the industrial products company’s stock valued at $107,018,000 after purchasing an additional 2,921 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Trading Down 1.7 %

RS stock opened at $276.77 on Monday. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 17.93 and a beta of 0.87. The company has a fifty day moving average price of $288.07 and a two-hundred day moving average price of $289.97. 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 posted its earnings results on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share 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 firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.04 billion. Equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Increases Dividend

The firm also recently announced 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 boost from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a dividend yield of 1.73%. Reliance’s dividend payout ratio (DPR) is currently 31.09%.

Insider Activity

In related news, CEO Karla R. Lewis sold 31,136 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the transaction, the chief executive officer now owns 90,230 shares in the company, valued at approximately $27,115,919.60. This trade represents a 25.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group began coverage on Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective for the company. KeyCorp increased their price target on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $329.17.

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.