Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 174 Shares of Reliance, Inc. (NYSE:RS)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in Reliance, Inc. (NYSE:RS) by 1.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,953 shares of the industrial products company’s stock after selling 174 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Reliance were worth $3,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new stake in Reliance in the third quarter valued at approximately $41,000. Versant Capital Management Inc increased its stake in shares of Reliance by 157.8% during the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 131 shares during the period. Brooklyn Investment Group bought a new position in shares of Reliance during the third quarter worth approximately $78,000. Jones Financial Companies Lllp increased its stake 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 worth $89,000 after purchasing an additional 304 shares during the period. Finally, Providence First Trust Co bought a new position in shares of Reliance during the fourth quarter worth approximately $90,000. Institutional investors own 79.26% of the company’s stock.

Reliance Trading Down 1.7 %

Shares of NYSE:RS opened at $276.77 on Monday. The company has a market capitalization of $14.66 billion, a P/E ratio of 17.93 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 company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The business’s 50 day simple moving average is $288.07 and its 200 day simple moving average is $289.97.

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

Reliance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Reliance’s previous quarterly dividend of $1.10. Reliance’s dividend payout ratio (DPR) is currently 31.09%.

Insider Buying and Selling at Reliance

In other Reliance 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 sale, the chief executive officer now owns 90,230 shares of the company’s stock, valued at approximately $27,115,919.60. This trade represents a 25.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RS shares. The Goldman Sachs Group started coverage on Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price on the stock. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, KeyCorp increased their target price on 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 assigned a buy rating to the stock. According to MarketBeat.com, Reliance presently has an average rating of “Hold” and an average 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.