Centiva Capital LP Has $795,000 Stock Holdings in Reliance, Inc. (NYSE:RS)

Centiva Capital LP decreased its position in shares of Reliance, Inc. (NYSE:RS) by 70.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,952 shares of the industrial products company’s stock after selling 7,099 shares during the period. Centiva Capital LP’s holdings in Reliance were worth $795,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC grew its position in shares of Reliance by 4.1% in the fourth quarter. Quent Capital LLC now owns 941 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 37 shares during the last quarter. Johnson Investment Counsel Inc. increased its position in Reliance by 0.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company’s stock worth $3,002,000 after buying an additional 39 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Reliance by 3.1% during the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company’s stock worth $361,000 after buying an additional 40 shares during the last quarter. Forum Financial Management LP boosted its position in shares of Reliance by 2.8% in the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company’s stock valued at $436,000 after acquiring an additional 44 shares during the period. Finally, Lido Advisors LLC grew its stake in shares of Reliance by 4.9% in the fourth quarter. Lido Advisors LLC now owns 998 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

Separately, KeyCorp increased their price target on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $319.00.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the firm’s stock in a transaction dated 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 owns 90,230 shares in the company, valued at approximately $27,115,919.60. This trade represents a 25.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by insiders.

Reliance Stock Performance

Shares of NYSE RS opened at $295.42 on Friday. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 19.13 and a beta of 0.91. Reliance, Inc. has a one year low of $250.07 and a one year high of $326.87. The business has a fifty day simple moving average of $282.75 and a 200 day simple moving average of $289.57. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.11. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the previous year, the business earned $5.30 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. Sell-side analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.62%. Reliance’s dividend payout ratio (DPR) is presently 34.41%.

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.