Lido Advisors LLC Acquires 47 Shares of Reliance, Inc. (NYSE:RS)

Lido Advisors LLC boosted its stake in shares of Reliance, Inc. (NYSE:RS) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 998 shares of the industrial products company’s stock after acquiring an additional 47 shares during the quarter. Lido Advisors LLC’s holdings in Reliance were worth $269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RS. Proficio Capital Partners LLC acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $7,352,000. Pure Financial Advisors LLC boosted its position in Reliance by 232.9% in the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock valued at $2,499,000 after buying an additional 6,493 shares during the last quarter. Nordea Investment Management AB boosted its position in Reliance by 11.0% in the 4th quarter. Nordea Investment Management AB now owns 4,951 shares of the industrial products company’s stock valued at $1,332,000 after buying an additional 489 shares during the last quarter. Occidental Asset Management LLC increased its stake in shares of Reliance by 5.8% in the 4th quarter. Occidental Asset Management LLC now owns 16,494 shares of the industrial products company’s stock valued at $4,441,000 after buying an additional 898 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Reliance by 19.7% during the third quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock worth $136,718,000 after acquiring an additional 77,937 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Trading Up 0.5 %

NYSE RS opened at $296.45 on Wednesday. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87. The stock has a 50-day simple moving average of $282.61 and a 200 day simple moving average of $289.52. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $15.68 billion, a PE ratio of 19.20 and a beta of 0.91.

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

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, May 23rd. Reliance’s dividend payout ratio is currently 34.41%.

Insider Buying and Selling

In related news, CEO Karla R. Lewis sold 31,136 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $300.52, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RS has been the subject of a number of research reports. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. KeyCorp lifted their price target on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $319.00.

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.