Reliance, Inc. (NYSE:RS) Stock Holdings Lowered by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Reliance, Inc. (NYSE:RS) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,527 shares of the industrial products company’s stock after selling 8,927 shares during the period. California Public Employees Retirement System’s holdings in Reliance were worth $32,722,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RS. Quarry LP purchased a new stake in shares of Reliance in the 3rd quarter valued at approximately $41,000. Versant Capital Management Inc lifted its holdings in shares of Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 131 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Reliance by 1,216.0% in the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock worth $89,000 after buying an additional 304 shares during the period. Providence First Trust Co purchased a new position in shares of Reliance during the fourth quarter valued at $90,000. Finally, UMB Bank n.a. raised its position in Reliance by 41.8% during the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock valued at $95,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Karla R. Lewis sold 31,136 shares of Reliance 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

Reliance Trading Up 1.9 %

Shares of RS stock opened at $294.43 on Thursday. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20. The company has a market cap of $15.60 billion, a PE ratio of 19.07 and a beta of 0.87. 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 business’s 50 day moving average is $289.13 and its two-hundred day moving average is $290.84.

Reliance (NYSE:RS) last posted its 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 firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. Equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current 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. The ex-dividend date was Friday, March 7th. This represents a $4.80 dividend on an annualized basis and a yield of 1.63%. This is a positive change from Reliance’s previous quarterly dividend of $1.10. Reliance’s dividend payout ratio (DPR) is 31.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. 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. Five investment 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, the stock has an average rating of “Hold” and a consensus price target of $329.17.

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.