Sigma Planning Corp Sells 408 Shares of Reliance, Inc. (NYSE:RS)

Sigma Planning Corp cut its holdings in shares of Reliance, Inc. (NYSE:RS) by 17.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,981 shares of the industrial products company’s stock after selling 408 shares during the period. Sigma Planning Corp’s holdings in Reliance were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RS. Pacer Advisors Inc. raised its stake in Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock worth $219,841,000 after buying an additional 803,730 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Reliance by 53.5% during the 4th quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock worth $195,402,000 after acquiring an additional 252,955 shares during the period. Woodward Diversified Capital LLC bought a new position in shares of Reliance in the 4th quarter worth approximately $21,015,000. KBC Group NV lifted its stake in shares of Reliance by 68.8% in the 3rd quarter. KBC Group NV now owns 139,660 shares of the industrial products company’s stock valued at $40,391,000 after purchasing an additional 56,933 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of Reliance in the 3rd quarter valued at approximately $12,389,000. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Shares of NYSE:RS opened at $294.23 on Thursday. The business has a fifty day moving average price of $283.00 and a 200-day moving average price of $289.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The company has a market capitalization of $15.92 billion, a PE ratio of 19.06 and a beta of 0.90. Reliance, Inc. has a 1-year low of $256.98 and a 1-year high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52). The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.04 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. As a group, equities analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $1.20 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a yield of 1.63%. Reliance’s dividend payout ratio is 31.09%.

Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the transaction, the chief executive officer now owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RS shares. KeyCorp upped their price target on Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research note on Monday. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $329.17.

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.