900 Shares in Reliance, Inc. (NYSE:RS) Acquired by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Reliance, Inc. (NYSE:RS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 900 shares of the industrial products company’s stock, valued at approximately $242,000.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Reliance in the 3rd quarter worth about $41,000. Versant Capital Management Inc raised its holdings in Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after buying an additional 131 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Reliance in the third quarter worth approximately $78,000. Jones Financial Companies Lllp grew its holdings in shares of Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock valued at $89,000 after buying an additional 304 shares during the last quarter. Finally, Providence First Trust Co bought a new stake in shares of Reliance during the fourth quarter valued at approximately $90,000. 79.26% of the stock is owned by institutional investors.

Reliance Trading Up 0.4 %

Shares of RS stock opened at $294.41 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The company has a market cap of $15.60 billion, a price-to-earnings ratio of 19.07 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 firm has a fifty day moving average price of $288.87 and a 200-day moving average price of $290.25.

Reliance (NYSE:RS) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($0.52). Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.04 billion. As a group, equities analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $1.20 per share. This is a boost from Reliance’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.80 dividend on an annualized basis and a yield of 1.63%. Reliance’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RS. The Goldman Sachs Group started coverage on Reliance in a research report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective on the stock. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Finally, KeyCorp boosted their target price on Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Reliance currently has a consensus rating of “Hold” and a consensus target price of $329.17.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 90,230 shares in the company, valued at $27,115,919.60. This trade represents a 25.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.69% of the company’s stock.

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.