Reliance, Inc. (NYSE:RS) Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its stake in Reliance, Inc. (NYSE:RS) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,234 shares of the industrial products company’s stock after acquiring an additional 56 shares during the period. Avantax Advisory Services Inc.’s holdings in Reliance were worth $332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RS. Quarry LP purchased a new position in shares of Reliance during the third quarter worth about $41,000. Versant Capital Management Inc boosted its position in shares of Reliance by 157.8% during the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 131 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Reliance during the 3rd quarter valued at approximately $78,000. Jones Financial Companies Lllp increased its position in shares of Reliance by 1,216.0% in the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock valued at $89,000 after buying an additional 304 shares in the last quarter. Finally, Providence First Trust Co acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $90,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Reliance Stock Up 3.6 %

Shares of NYSE:RS opened at $287.68 on Tuesday. 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 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a market cap of $15.24 billion, a PE ratio of 18.63 and a beta of 0.87. The company has a fifty day simple moving average of $288.33 and a 200 day simple moving average of $290.08.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share 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. On average, equities research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $1.20 dividend. This is an increase from Reliance’s previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 7th. This represents a $4.80 annualized dividend and a dividend yield of 1.67%. Reliance’s dividend payout ratio (DPR) is 31.09%.

Insider Buying and Selling

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 stock was sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the completion of the transaction, the chief executive officer now owns 90,230 shares in the company, valued at approximately $27,115,919.60. The trade was a 25.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

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.