Mn Services Vermogensbeheer B.V. Has $6.06 Million Stake in Reliance, Inc. (NYSE:RS)

Mn Services Vermogensbeheer B.V. lifted its stake in shares of Reliance, Inc. (NYSE:RS) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,500 shares of the industrial products company’s stock after purchasing an additional 400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Reliance were worth $6,058,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Integrated Advisors Network LLC lifted its holdings in Reliance by 8.1% in the third quarter. Integrated Advisors Network LLC now owns 1,130 shares of the industrial products company’s stock valued at $327,000 after buying an additional 85 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in Reliance by 16.1% in the third quarter. First Trust Direct Indexing L.P. now owns 1,640 shares of the industrial products company’s stock valued at $474,000 after buying an additional 228 shares during the period. New York State Common Retirement Fund lifted its holdings in Reliance by 5.5% in the third quarter. New York State Common Retirement Fund now owns 122,104 shares of the industrial products company’s stock valued at $35,314,000 after buying an additional 6,354 shares during the period. Pure Financial Advisors LLC lifted its holdings in Reliance by 16.2% in the third quarter. Pure Financial Advisors LLC now owns 2,788 shares of the industrial products company’s stock valued at $806,000 after buying an additional 388 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Reliance by 0.3% in the third quarter. Janney Montgomery Scott LLC now owns 19,578 shares of the industrial products company’s stock valued at $5,662,000 after buying an additional 58 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Up 0.8 %

Shares of NYSE:RS opened at $297.36 on Friday. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The company has a market capitalization of $16.09 billion, a PE ratio of 19.26 and a beta of 0.91. The company has a 50 day moving average price of $284.18 and a two-hundred day moving average price of $289.80.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.74 by ($0.52). Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.04 billion. Analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $1.20 per share. This is an increase from Reliance’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 7th. This represents a $4.80 annualized dividend and a dividend yield of 1.61%. Reliance’s dividend payout ratio is currently 31.09%.

Insider Transactions at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the sale, the chief executive officer now owns 85,117 shares of the company’s stock, valued at $27,569,396.30. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. KeyCorp increased their price objective on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group began coverage on shares of Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $329.17.

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.