Reliance, Inc. (NYSE:RS) Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its position in Reliance, Inc. (NYSE:RS) by 45.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,338 shares of the industrial products company’s stock after selling 6,197 shares during the period. Sigma Planning Corp’s holdings in Reliance were worth $2,052,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Reliance by 14.5% during the first quarter. BlackRock Inc. now owns 6,453,558 shares of the industrial products company’s stock valued at $1,656,886,000 after acquiring an additional 815,429 shares during the last quarter. CI Private Wealth LLC acquired a new stake in shares of Reliance during the fourth quarter valued at $82,101,000. Norges Bank acquired a new stake in shares of Reliance during the fourth quarter valued at $78,366,000. State Street Corp boosted its stake in shares of Reliance by 16.4% during the first quarter. State Street Corp now owns 2,549,898 shares of the industrial products company’s stock valued at $467,524,000 after acquiring an additional 359,364 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Reliance by 121.1% during the first quarter. First Trust Advisors LP now owns 515,735 shares of the industrial products company’s stock valued at $94,560,000 after acquiring an additional 282,481 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RS. Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and increased their price objective for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. KeyCorp raised their price target on Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, BMO Capital Markets raised their price target on Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Reliance has a consensus rating of “Moderate Buy” and an average target price of $365.67.

Reliance Stock Down 0.2 %

Shares of NYSE:RS opened at $319.49 on Monday. The stock’s 50-day moving average price is $324.38 and its two-hundred day moving average price is $290.44. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 5.63 and a beta of 0.87. The company has a current ratio of 5.66, a quick ratio of 3.23 and a debt-to-equity ratio of 0.15. Reliance, Inc. has a 12-month low of $229.12 and a 12-month high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.81. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.31 billion. Reliance had a return on equity of 17.53% and a net margin of 9.02%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business posted $5.87 EPS. On average, research analysts forecast that Reliance, Inc. will post 19.51 EPS for the current year.

Reliance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 7th. Reliance’s dividend payout ratio (DPR) is 19.46%.

Insider Transactions at Reliance

In other news, Director James Donald Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total value of $12,918,000.00. Following the transaction, the director now directly owns 54,042 shares in the company, valued at approximately $17,452,863.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director James Donald Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total transaction of $12,918,000.00. Following the sale, the director now directly owns 54,042 shares in the company, valued at approximately $17,452,863.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Arthur Ajemyan sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $322.95, for a total value of $968,850.00. Following the sale, the chief financial officer now owns 15,577 shares in the company, valued at $5,030,592.15. The disclosure for this sale can be found here. Insiders have sold a total of 85,996 shares of company stock worth $27,603,878 in the last three months. 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.