Trajan Wealth LLC Buys Shares of 702 Reliance, Inc. (NYSE:RS)

Trajan Wealth LLC purchased a new position in shares of Reliance, Inc. (NYSE:RS) during the third quarter, Holdings Channel.com reports. The fund purchased 702 shares of the industrial products company’s stock, valued at approximately $203,000.

Other large investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Reliance during the second quarter worth about $28,000. UMB Bank n.a. grew its stake in shares of Reliance by 27.0% during the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 53 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Reliance during the first quarter worth about $86,000. National Bank of Canada FI grew its stake in shares of Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 41 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Reliance during the first quarter worth about $125,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RS shares. Wolfe Research lowered Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price target on the stock. in a research note on Friday, July 26th. 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. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $326.40.

Insider Buying and Selling at Reliance

In other news, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $298.01, for a total value of $1,490,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Reliance Trading Down 1.6 %

Shares of NYSE:RS opened at $289.59 on Thursday. Reliance, Inc. has a 12-month low of $251.46 and a 12-month high of $342.20. The company has a market capitalization of $15.93 billion, a PE ratio of 15.90 and a beta of 0.85. The business has a 50 day moving average of $284.30 and a two-hundred day moving average of $290.13. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Reliance (NYSE:RS) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the firm posted $5.00 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, analysts forecast that Reliance, Inc. will post 16.96 EPS for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, November 22nd. Reliance’s payout ratio is presently 24.16%.

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.