United Capital Management of KS Inc. Has $8.89 Million Position in Reliance, Inc. (NYSE:RS)

United Capital Management of KS Inc. raised its holdings in shares of Reliance, Inc. (NYSE:RS) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,737 shares of the industrial products company’s stock after purchasing an additional 943 shares during the quarter. Reliance makes up 1.9% of United Capital Management of KS Inc.’s holdings, making the stock its 16th biggest position. United Capital Management of KS Inc.’s holdings in Reliance were worth $8,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of Reliance in the second quarter valued at approximately $28,000. UMB Bank n.a. increased its position in Reliance by 27.0% during the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after buying an additional 53 shares during the period. National Bank of Canada FI increased its position in Reliance by 17.9% during the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after buying an additional 41 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Reliance during the first quarter worth $86,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Reliance in the second quarter valued at about $117,000. 79.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the completion of the sale, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at approximately $5,420,491.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Arthur Ajemyan sold 6,332 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the transaction, the chief financial officer now directly owns 9,245 shares of the company’s stock, valued at $2,941,574.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William A. Smith II sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the completion of the sale, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at $5,420,491.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,832 shares of company stock worth $5,595,881. Insiders own 0.69% of the company’s stock.

Reliance Price Performance

Shares of NYSE RS opened at $320.62 on Monday. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $287.35 and its 200-day moving average price is $289.10. The firm has a market capitalization of $17.35 billion, a P/E ratio of 17.61 and a beta of 0.85. Reliance, Inc. has a 1-year low of $261.77 and a 1-year high of $342.20.

Reliance (NYSE:RS) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.02). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.00 EPS. Equities research analysts anticipate that Reliance, Inc. will post 16.65 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.37%. Reliance’s dividend payout ratio (DPR) is presently 24.16%.

Analyst Ratings Changes

A number of research firms recently commented on RS. BMO Capital Markets lowered their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. KeyCorp dropped their price objective on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, Wolfe Research cut Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price for the company. in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $326.40.

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.