Reliance, Inc. (NYSE:RS) Shares Acquired by Numerai GP LLC

Numerai GP LLC grew its stake in shares of Reliance, Inc. (NYSE:RS) by 615.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,884 shares of the industrial products company’s stock after acquiring an additional 5,062 shares during the quarter. Numerai GP LLC’s holdings in Reliance were worth $1,584,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in Reliance by 9.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company’s stock valued at $998,886,000 after purchasing an additional 319,576 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Reliance by 10.4% during the fourth quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company’s stock worth $398,381,000 after purchasing an additional 138,866 shares during the period. First Trust Advisors LP boosted its position in Reliance by 15.5% in the fourth quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company’s stock valued at $372,364,000 after buying an additional 185,873 shares during the last quarter. Pacer Advisors Inc. boosted its position in Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock valued at $219,841,000 after buying an additional 803,730 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Reliance by 53.5% in the 4th quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock worth $195,402,000 after buying an additional 252,955 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CEO Karla R. Lewis sold 31,136 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 90,230 shares of the company’s stock, valued at $27,115,919.60. The trade was a 25.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by insiders.

Reliance Stock Down 1.7%

Reliance stock opened at $299.19 on Wednesday. The business’s 50-day moving average price is $283.80 and its 200 day moving average price is $289.86. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The firm has a market cap of $15.73 billion, a price-to-earnings ratio of 19.38 and a beta of 0.91. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $326.87.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, topping the consensus estimate of $3.66 by $0.11. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.30 EPS. As a group, sell-side analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, May 23rd. 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.