Xponance Inc. Has $1.96 Million Holdings in Reliance, Inc. (NYSE:RS)

Xponance Inc. cut its holdings in Reliance, Inc. (NYSE:RS) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,015 shares of the industrial products company’s stock after selling 60 shares during the period. Xponance Inc.’s holdings in Reliance were worth $1,962,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of RS. Invesco Ltd. lifted its position in Reliance by 35.4% during the third quarter. Invesco Ltd. now owns 723,755 shares of the industrial products company’s stock worth $189,790,000 after purchasing an additional 189,326 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Reliance by 68.6% in the third quarter. Hsbc Holdings PLC now owns 193,347 shares of the industrial products company’s stock worth $50,699,000 after acquiring an additional 78,699 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Reliance by 6.0% in the third quarter. Northern Trust Corp now owns 675,801 shares of the industrial products company’s stock worth $177,215,000 after acquiring an additional 37,971 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Reliance by 26.2% in the third quarter. Panagora Asset Management Inc. now owns 171,614 shares of the industrial products company’s stock worth $45,002,000 after acquiring an additional 35,627 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Reliance by 7.1% in the fourth quarter. Pacer Advisors Inc. now owns 536,462 shares of the industrial products company’s stock worth $150,038,000 after acquiring an additional 35,627 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Reliance

In other news, CEO Karla R. Lewis sold 650 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $322.96, for a total transaction of $209,924.00. Following the completion of the sale, the chief executive officer now owns 83,884 shares of the company’s stock, valued at approximately $27,091,176.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total value of $13,507,103.62. Following the transaction, the chief executive officer now directly owns 84,534 shares in the company, valued at approximately $26,963,809.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Karla R. Lewis sold 650 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $322.96, for a total value of $209,924.00. Following the completion of the transaction, the chief executive officer now owns 83,884 shares in the company, valued at $27,091,176.64. The disclosure for this sale can be found here. Insiders sold a total of 85,996 shares of company stock valued at $27,603,878 in the last quarter. 0.69% of the stock is currently owned by company insiders.

Reliance Stock Performance

NYSE:RS opened at $314.00 on Wednesday. The company 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 has a 50 day simple moving average of $324.81 and a two-hundred day simple moving average of $290.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.23 and a current ratio of 5.66. Reliance, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $342.20.

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

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $1.10 per share. This is an increase from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.40 annualized dividend and a dividend yield of 1.40%. Reliance’s dividend payout ratio (DPR) is 19.46%.

Analysts Set New Price Targets

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

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.