Hunter Associates Investment Management LLC Has $2.03 Million Stake in Reliance, Inc. (NYSE:RS)

Hunter Associates Investment Management LLC boosted its stake in Reliance, Inc. (NYSE:RS) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,036 shares of the industrial products company’s stock after acquiring an additional 706 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Reliance were worth $2,026,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Reliance during the 2nd quarter worth approximately $28,000. UMB Bank n.a. increased its stake in Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after buying an additional 53 shares during the last quarter. National Bank of Canada FI increased its stake in Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after buying an additional 41 shares during the last quarter. Headlands Technologies LLC bought a new stake in Reliance during the 1st quarter worth about $86,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Reliance during the 2nd quarter worth about $117,000. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Up 4.9 %

NYSE RS opened at $297.54 on Tuesday. The business has a fifty day moving average price of $283.99 and a two-hundred day moving average price of $290.34. The stock has a market capitalization of $16.37 billion, a PE ratio of 16.34 and a beta of 0.85. Reliance, Inc. has a fifty-two week low of $249.29 and a fifty-two week high of $342.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58.

Reliance (NYSE:RS) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.02). Reliance had a return on equity of 13.68% and a net margin of 7.42%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company earned $5.00 earnings per share. Reliance’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities analysts expect that Reliance, Inc. will post 16.96 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, November 22nd. Reliance’s dividend payout ratio is 24.16%.

Analysts Set New Price Targets

RS has been the subject of a number of analyst reports. KeyCorp decreased their price target on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Wolfe Research lowered shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price target on the stock. in a research report on Friday, July 26th. Finally, BMO Capital Markets cut their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $326.40.

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.