Quantinno Capital Management LP Has $1.32 Million Stake in Reliance, Inc. (NYSE:RS)

Quantinno Capital Management LP boosted its holdings in shares of Reliance, Inc. (NYSE:RS) by 47.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,558 shares of the industrial products company’s stock after acquiring an additional 1,469 shares during the period. Quantinno Capital Management LP’s holdings in Reliance were worth $1,318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of RS. Trust Point Inc. increased its stake in shares of Reliance by 3.6% during the 3rd quarter. Trust Point Inc. now owns 972 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 34 shares during the last quarter. National Bank of Canada FI raised its stake in Reliance by 17.9% during the second 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 last quarter. Fulton Bank N.A. raised its stake in Reliance by 3.1% during the third quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock worth $454,000 after buying an additional 47 shares during the last quarter. Consolidated Planning Corp raised its stake in Reliance by 7.1% during the second quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company’s stock worth $215,000 after buying an additional 50 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Down 1.5 %

Shares of RS opened at $301.69 on Friday. The firm has a market capitalization of $16.33 billion, a P/E ratio of 16.57 and a beta of 0.87. Reliance, Inc. has a 12-month low of $263.80 and a 12-month high of $342.20. 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 has a fifty day moving average price of $303.42 and a 200-day moving average price of $292.38.

Reliance (NYSE:RS) last announced its earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.00 earnings per share. Equities research analysts expect that Reliance, Inc. will post 16.42 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, November 22nd. Reliance’s dividend payout ratio is presently 24.16%.

Analysts Set New Price Targets

RS has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on shares of Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target on the stock. KeyCorp cut their price target on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Finally, BMO Capital Markets cut their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $328.83.

Insider Activity at Reliance

In related news, Director Mark V. Kaminski sold 5,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the sale, the chief executive officer now owns 85,117 shares in the company, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,724 shares of company stock valued at $6,856,500 over the last three months. 0.69% of the stock is owned by corporate insiders.

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.