Lindbrook Capital LLC Purchases 37 Shares of Reliance, Inc. (NYSE:RS)

Lindbrook Capital LLC raised its position in shares of Reliance, Inc. (NYSE:RS) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 480 shares of the industrial products company’s stock after acquiring an additional 37 shares during the quarter. Lindbrook Capital LLC’s holdings in Reliance were worth $134,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Millburn Ridgefield Corp bought a new stake in Reliance during the third quarter valued at $33,000. Catalyst Capital Advisors LLC bought a new stake in Reliance during the third quarter valued at $33,000. Altshuler Shaham Ltd boosted its position in 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 acquiring an additional 134 shares during the last quarter. UMB Bank n.a. boosted its position in Reliance by 26.4% during the third quarter. UMB Bank n.a. now owns 230 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 48 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Reliance by 187.9% during the 4th quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Trading Down 1.7 %

RS opened at $314.00 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.66 and a quick ratio of 3.23. Reliance, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $342.20. The firm has a market capitalization of $18.03 billion, a PE ratio of 13.89, a P/E/G ratio of 5.63 and a beta of 0.87. The company’s 50-day moving average is $324.81 and its 200 day moving average is $290.87.

Reliance (NYSE:RS) last posted its earnings results on Thursday, February 15th. The industrial products company reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.81. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the business posted $5.87 EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. As a group, research analysts predict that Reliance, Inc. will post 19.51 earnings per share for the current fiscal year.

Reliance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Reliance’s previous quarterly dividend of $1.00. Reliance’s dividend payout ratio is currently 19.46%.

Insider Buying and Selling

In other Reliance news, CFO Arthur Ajemyan sold 3,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $322.95, for a total value of $968,850.00. Following the completion of the sale, the chief financial officer now owns 15,577 shares in the company, valued at approximately $5,030,592.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Reliance news, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $318.97, for a total value of $13,507,103.62. Following the completion of the sale, the chief executive officer now owns 84,534 shares in the company, valued at approximately $26,963,809.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Arthur Ajemyan sold 3,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $322.95, for a total transaction of $968,850.00. Following the completion of the sale, the chief financial officer now owns 15,577 shares of the company’s stock, valued at approximately $5,030,592.15. The disclosure for this sale can be found here. Insiders have sold 85,996 shares of company stock worth $27,603,878 in the last quarter. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RS shares. Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $280.00 to $380.00 in a research report on Thursday, April 11th. KeyCorp increased their price objective on shares of Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Finally, BMO Capital Markets increased their price objective on shares of Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $365.67.

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.