Planned Solutions Inc. Takes $89,000 Position in Reliance, Inc. (NYSE:RS)

Planned Solutions Inc. acquired a new stake in shares of Reliance, Inc. (NYSE:RS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 320 shares of the industrial products company’s stock, valued at approximately $89,000.

Several other institutional investors also recently bought and sold shares of RS. Worth Asset Management LLC acquired a new stake in Reliance in the first quarter valued at approximately $28,000. Millburn Ridgefield Corp purchased a new stake in shares of Reliance during the 3rd quarter valued at $33,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Reliance in the 3rd quarter worth $33,000. Penserra Capital Management LLC purchased a new position in Reliance during the 1st quarter worth $46,000. Finally, Altshuler Shaham Ltd increased its position in Reliance by 183.6% during the 3rd 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. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Trading Up 1.7 %

Reliance stock opened at $336.90 on Thursday. The stock has a 50-day moving average price of $309.62 and a 200 day moving average price of $282.15. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 4.73 and a beta of 0.87. Reliance, Inc. has a 52 week low of $229.12 and a 52 week high of $337.11. The company has a quick ratio of 3.23, a current ratio of 5.66 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $4.73 EPS for the quarter, beating the consensus estimate of $3.92 by $0.81. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.31 billion. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.87 EPS. Sell-side analysts anticipate that Reliance, Inc. will post 19.34 EPS for the current year.

Reliance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.31%. This is a positive change from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 7th. Reliance’s dividend payout ratio (DPR) is 19.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. KeyCorp raised their price target on shares of Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a report on Friday, February 16th.

Insider Activity at Reliance

In related news, CEO Karla R. Lewis sold 650 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $322.96, for a total transaction of $209,924.00. Following the sale, the chief executive officer now owns 83,884 shares in the company, valued at $27,091,176.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Karla R. Lewis sold 650 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $322.96, for a total transaction of $209,924.00. Following the sale, 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 available at this hyperlink. Also, CEO Karla R. Lewis sold 42,346 shares of Reliance stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $318.97, for a total value of $13,507,103.62. Following the completion of the transaction, the chief executive officer now owns 84,534 shares of the company’s stock, valued at approximately $26,963,809.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,996 shares of company stock worth $27,603,878. 0.62% of the stock is owned by corporate insiders.

Reliance Company 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.