Oak Thistle LLC Boosts Holdings in Reliance, Inc. (NYSE:RS)

Oak Thistle LLC lifted its stake in shares of Reliance, Inc. (NYSE:RS) by 103.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,123 shares of the industrial products company’s stock after buying an additional 1,081 shares during the quarter. Oak Thistle LLC’s holdings in Reliance were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC raised its holdings in Reliance by 68.2% in the second quarter. Virtu Financial LLC now owns 4,276 shares of the industrial products company’s stock worth $1,221,000 after purchasing an additional 1,734 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Reliance by 2.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 27,950 shares of the industrial products company’s stock worth $7,982,000 after buying an additional 637 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Reliance by 10.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,512 shares of the industrial products company’s stock worth $4,275,000 after acquiring an additional 1,418 shares in the last quarter. SkyOak Wealth LLC purchased a new position in Reliance during the 2nd quarter valued at about $225,000. Finally, Hsbc Holdings PLC boosted its stake in Reliance by 78.5% during the second quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company’s stock worth $82,816,000 after acquiring an additional 127,422 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark V. Kaminski sold 5,000 shares of Reliance stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $298.01, for a total transaction of $1,490,050.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Karla R. Lewis sold 3,892 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the transaction, the chief executive officer now owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,724 shares of company stock worth $6,856,500 over the last ninety days. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. BMO Capital Markets reduced their price objective on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. KeyCorp cut their target price on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, The Goldman Sachs Group began coverage on Reliance in a research report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Reliance currently has an average rating of “Hold” and an average target price of $328.83.

Reliance Trading Up 0.9 %

Shares of NYSE:RS opened at $284.41 on Friday. The stock has a 50 day moving average of $293.56 and a 200 day moving average of $289.88. The company has a market cap of $15.39 billion, a PE ratio of 15.62 and a beta of 0.91. Reliance, Inc. has a 12-month low of $256.98 and a 12-month high of $342.20. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Reliance (NYSE:RS) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.00 earnings per share. As a group, equities research analysts expect that Reliance, Inc. will post 16.42 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a dividend of $1.10 per share. The ex-dividend date was Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.55%. Reliance’s dividend payout ratio is presently 24.16%.

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.