TD Waterhouse Canada Inc. Increases Stock Position in Reliance, Inc. (NYSE:RS)

TD Waterhouse Canada Inc. grew its position in Reliance, Inc. (NYSE:RS) by 49.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 368 shares of the industrial products company’s stock after buying an additional 121 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Reliance were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of RS. Quent Capital LLC raised its holdings in Reliance by 4.1% in the fourth quarter. Quent Capital LLC now owns 941 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 37 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in Reliance by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company’s stock valued at $3,002,000 after purchasing an additional 39 shares during the period. Townsquare Capital LLC raised its stake in Reliance by 3.1% during the 4th quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 40 shares during the last quarter. Forum Financial Management LP raised its stake in shares of Reliance by 2.8% during the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company’s stock worth $436,000 after purchasing an additional 44 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Reliance by 0.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 7,715 shares of the industrial products company’s stock worth $2,077,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Transactions at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the transaction, the chief executive officer now owns 90,230 shares in the company, valued at $27,115,919.60. The trade was a 25.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RS. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. KeyCorp upped their price objective on Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $319.00.

Reliance Stock Down 0.2 %

RS opened at $284.54 on Monday. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87. The business has a 50-day moving average of $283.42 and a two-hundred day moving average of $289.57. 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 stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 18.43 and a beta of 0.83.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.11. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $1.20 per share. The ex-dividend date is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.69%. Reliance’s dividend payout ratio (DPR) is 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.