Charles Schwab Investment Management Inc. Purchases 964 Shares of Reliance, Inc. (NYSE:RS)

Charles Schwab Investment Management Inc. lifted its position in shares of Reliance, Inc. (NYSE:RSFree Report) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,632 shares of the industrial products company’s stock after purchasing an additional 964 shares during the period. Charles Schwab Investment Management Inc. owned 0.68% of Reliance worth $108,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new stake in shares of Reliance during the third quarter worth $33,000. Catalyst Capital Advisors LLC bought a new position in shares of Reliance during the third quarter worth approximately $33,000. Altshuler Shaham Ltd raised its position in shares of Reliance by 183.6% in the third quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock valued at $54,000 after buying an additional 134 shares in the last quarter. Blue Trust Inc. raised its position in shares of Reliance by 187.9% in the fourth quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock valued at $75,000 after buying an additional 186 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of Reliance in the fourth quarter valued at approximately $89,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Arthur Ajemyan sold 3,000 shares of Reliance stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total value of $968,850.00. Following the transaction, the chief financial officer now directly owns 15,577 shares of the company’s stock, valued at $5,030,592.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Karla R. Lewis sold 650 shares of Reliance stock in a transaction dated 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 directly owns 83,884 shares of the company’s stock, valued at approximately $27,091,176.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Arthur Ajemyan sold 3,000 shares of the company’s 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 sale, the chief financial officer now owns 15,577 shares in the company, valued at approximately $5,030,592.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,996 shares of company stock valued at $31,966,978. Company insiders own 0.69% of the company’s stock.

Reliance Stock Performance

NYSE RS opened at $293.15 on Friday. The firm’s fifty day moving average price is $318.15 and its two-hundred day moving average price is $294.41. The stock has a market cap of $16.84 billion, a PE ratio of 13.69, a PEG ratio of 5.13 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74. Reliance, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $342.20.

Reliance (NYSE:RSGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.21). The firm had revenue of $3.64 billion for 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 company’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.37 EPS. On average, equities analysts expect that Reliance, Inc. will post 19.63 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a $1.10 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.50%. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Analyst Upgrades and Downgrades

RS has been the subject of several analyst reports. StockNews.com raised Reliance from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Citigroup downgraded Reliance from a “buy” rating to a “neutral” rating and boosted their price target for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. BMO Capital Markets reduced their price objective on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, KeyCorp raised 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.

Read Our Latest Research Report on RS

Reliance Company 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.

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Institutional Ownership by Quarter for Reliance (NYSE:RS)

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