California Public Employees Retirement System Has $34.42 Million Holdings in Reliance, Inc. (NYSE:RS)

California Public Employees Retirement System cut its holdings in shares of Reliance, Inc. (NYSE:RS) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,054 shares of the industrial products company’s stock after selling 3,575 shares during the quarter. California Public Employees Retirement System owned 0.21% of Reliance worth $34,416,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in Reliance by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,197,200 shares of the industrial products company’s stock worth $313,942,000 after acquiring an additional 12,166 shares during the period. Invesco Ltd. lifted its holdings in shares of Reliance by 35.4% during the 3rd quarter. Invesco Ltd. now owns 723,755 shares of the industrial products company’s stock valued at $189,790,000 after buying an additional 189,326 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Reliance by 6.0% during the 3rd quarter. Northern Trust Corp now owns 675,801 shares of the industrial products company’s stock valued at $177,215,000 after buying an additional 37,971 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Reliance by 7.1% during the 4th quarter. Pacer Advisors Inc. now owns 536,462 shares of the industrial products company’s stock valued at $150,038,000 after buying an additional 35,627 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Reliance by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 324,868 shares of the industrial products company’s stock valued at $85,190,000 after buying an additional 1,465 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Performance

Shares of NYSE RS opened at $290.42 on Friday. The company has a quick ratio of 3.23, a current ratio of 5.74 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $324.88 and its two-hundred day moving average is $291.41. The company has a market cap of $16.68 billion, a P/E ratio of 13.56, a P/E/G ratio of 5.15 and a beta of 0.87. Reliance, Inc. has a 12 month low of $229.12 and a 12 month high of $342.20.

Reliance (NYSE:RS) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.30 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.21). The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $6.37 earnings per share. On average, equities analysts expect that Reliance, Inc. will post 19.51 EPS for the current year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, May 23rd. Reliance’s dividend payout ratio is presently 20.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RS shares. BMO Capital Markets reduced their price target on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a report on Friday. KeyCorp boosted their target price on Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. StockNews.com lowered Reliance from a “buy” rating to a “hold” rating in a report on Friday. Finally, Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $280.00 to $380.00 in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Reliance presently has an average rating of “Hold” and a consensus price target of $362.33.

Insider Activity

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

Reliance Company 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.