Bryce Point Capital LLC Buys Shares of 5,244 Reliance, Inc. (NYSE:RS)

Bryce Point Capital LLC acquired a new position in Reliance, Inc. (NYSE:RS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,244 shares of the industrial products company’s stock, valued at approximately $1,412,000.

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Reliance in the third quarter worth about $41,000. Versant Capital Management Inc grew its position in Reliance by 157.8% in the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 131 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock worth $89,000 after buying an additional 304 shares during the period. Providence First Trust Co purchased a new position in shares of Reliance during the fourth quarter worth approximately $90,000. Finally, UMB Bank n.a. grew its position in shares of Reliance by 41.8% during the 4th quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock worth $95,000 after buying an additional 104 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Performance

Shares of RS stock opened at $289.24 on Wednesday. The firm has a 50 day moving average of $288.99 and a two-hundred day moving average of $290.82. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20. The stock has a market capitalization of $15.32 billion, a PE ratio of 18.73 and a beta of 0.87.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $2.22 EPS 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. On average, research analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.80 annualized dividend and a yield of 1.66%. This is a boost from Reliance’s previous quarterly dividend of $1.10. Reliance’s dividend payout ratio is presently 31.09%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RS. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. KeyCorp lifted their price objective on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Reliance presently has a consensus rating of “Hold” and a consensus price target of $329.17.

Insider Buying and Selling

In other news, CEO Karla R. Lewis sold 31,136 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the sale, the chief executive officer now directly owns 90,230 shares of the company’s stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

About Reliance

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.