Reliance, Inc. (NYSE:RS) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its stake in Reliance, Inc. (NYSE:RS) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,319 shares of the industrial products company’s stock after selling 41 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Reliance were worth $355,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in RS. Quarry LP acquired a new position in shares of Reliance in the third quarter valued at approximately $41,000. Versant Capital Management Inc boosted its position in Reliance by 157.8% during the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 131 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Reliance in the third quarter valued at $78,000. UMB Bank n.a. lifted its position in shares of Reliance by 41.8% in the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 104 shares in the last quarter. Finally, Abound Wealth Management lifted its position in shares of Reliance by 35,700.0% in the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the transaction, the chief executive officer now directly owns 90,230 shares in the company, valued at approximately $27,115,919.60. This trade represents a 25.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Reliance Stock Up 0.8 %

Shares of Reliance stock opened at $297.36 on Friday. Reliance, Inc. has a 12-month low of $256.98 and a 12-month high of $342.20. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $16.09 billion, a PE ratio of 19.26 and a beta of 0.91. The stock’s fifty day moving average is $283.62 and its 200-day moving average is $289.62.

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

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $1.20 dividend. This is a boost from Reliance’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 7th. This represents a $4.80 annualized dividend and a yield of 1.61%. Reliance’s dividend payout ratio is 31.09%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RS shares. KeyCorp increased their target price on Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. The Goldman Sachs Group started coverage on Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price on the stock. Finally, Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Reliance currently has a consensus rating of “Hold” and a consensus price target of $329.17.

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.