Unigestion Holding SA Makes New $358,000 Investment in Reliance, Inc. (NYSE:RS)

Unigestion Holding SA bought a new position in Reliance, Inc. (NYSE:RSFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,281 shares of the industrial products company’s stock, valued at approximately $358,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new position in shares of Reliance during the third quarter valued at $33,000. Partnership Wealth Management LLC bought a new position in shares of Reliance during the fourth quarter valued at $43,000. Altshuler Shaham Ltd lifted its holdings in shares of Reliance by 183.6% during the third quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 134 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Reliance by 187.9% during the fourth quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 186 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of Reliance during the fourth quarter valued at $89,000. 79.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RS shares. Citigroup downgraded Reliance from a “buy” rating to a “neutral” rating and upped their price target for the company from $280.00 to $380.00 in a report on Thursday, April 11th. BMO Capital Markets lowered their target price on Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. KeyCorp increased their target price on Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, StockNews.com downgraded Reliance from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th.

Read Our Latest Research Report on Reliance

Reliance Stock Performance

Shares of RS opened at $284.43 on Tuesday. The company has a quick ratio of 3.21, a current ratio of 5.74 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $306.74 and a two-hundred day simple moving average of $299.36. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 6.38 and a beta of 0.90. Reliance, Inc. has a 52 week low of $237.14 and a 52 week high of $342.20.

Reliance (NYSE:RSGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.21). The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.37 EPS. On average, analysts expect that Reliance, Inc. will post 19.63 EPS for the current year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, May 23rd. Reliance’s payout ratio is 20.55%.

Insiders Place Their Bets

In related news, Director James Donald Hoffman sold 5,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $290.04, for a total transaction of $1,450,200.00. Following the completion of the sale, the director now owns 44,042 shares in the company, valued at $12,773,941.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James Donald Hoffman sold 5,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $290.04, for a total transaction of $1,450,200.00. Following the completion of the sale, the director now owns 44,042 shares in the company, valued at $12,773,941.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen Paul Koch sold 20,421 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $295.38, for a total value of $6,031,954.98. Following the sale, the chief operating officer now owns 7,552 shares of the company’s stock, valued at approximately $2,230,709.76. The disclosure for this sale can be found here. Insiders sold a total of 40,421 shares of company stock worth $11,866,855 over the last quarter. 0.69% of the stock is currently owned by corporate insiders.

Reliance Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Reliance (NYSE:RS)

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